The Macau SAR Government announced that it will terminate the operating contract with Macau Macau on April 1 this year, and terminate the horse racing event from that day.The original horse racing contract was valid until 2042.
Comprehensive Macau Special Administrative Region Government Information Bureau and Radio Hong Kong on Monday (January 15) reported that Li Weinong, the director of the Economic Finance Department, signed a termination agreement on behalf of the Macau Special Administrative Region Government and the Macau Macau Corporation.From the date, the company's horse race specialized batch of the contract is terminated.
The Macau Special Administrative Region Government signed documents with the Macau Macau Corporation in 2018 to extend the term of the horsesman -racing specialized business to the contract for 24 years and 6 months, from March 1, 2018 to August 31, 2042The condition is that before the end of last year, the $ 1.5 billion (about S $ 248 million) was needed to ensure sustainable development.
However, the Macau horse racing company proposed to the Macau Special Administrative Region last year that due to the difficulty of the company's operations and the horse racing activities could not meet the development needs of the society, they applied for the dismissal of the management of the horse racing.
The Macau horse racing company promises to properly handle the labor rights and interests of nearly 600 affected employees in accordance with the law, and to transfer the existing horses to the field by March 31, 2025.
In addition, after the race batch of the horse race is lifted, the land and related facilities of the racecourse will return to the Macau Special Administrative Region for free.
