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MJC gets approval for new season

September 12, 2023 Macau iGaming & Gambling

The Macau Jockey Club (MJC) has been given the green light for its upcoming 2023/2024 season, quelling concerns about its future. The Macau government has officially approved the season, with the first meeting scheduled for September 29.

Recent reports had cast doubt on the MJC’s future, suggesting that it might not meet the necessary facility upgrade requirements outlined when it received a 24-year concession extension in February 2018. Contrary to these concerns, the MJC has confirmed a full racing season, spanning from September 29, 2023, to August 31, 2024. Additionally, night races are set to resume in January, although details regarding the number of races and horse participation remain undisclosed.

The racing scene in Macau has experienced a significant decline, with the horse population dwindling from a peak of 1,200 two decades ago to just 220 horses today. Likewise, the number of annual races has plummeted from 1,200 in 2003 to only a single meet with a few races per week.

Further exacerbating the situation, MJC employees have reported that the organization has not expanded its staff numbers post-pandemic and has halted the recruitment of new personnel. These developments had raised concerns among officials about the club’s future, especially given the aging state of its facilities and mounting losses.

The MJC disclosed accumulated losses of MOP$2.1 billion (approximately US$260 million) as of 2022, marking an increase of about MOP$200 million (around US$25 million) over the previous year. Despite these financial challenges, the MJC appears determined to press forward with its upcoming season and hopes to revitalize its operations in Macau’s competitive gaming landscape.

Original story by: IAG

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