Another lap around the course


The Macau SAR Government has extended for a period of six months, the concession granted to the Macau Horse Racing Company Limited for the commercial exploitation of horse racing, a dispatch in the official gazette announced yesterday.
Under the executive order, the duration of the contract is extended until February 28, 2018.
The company, operated by Angela Leong On Kei, runs the Macau Jockey Club (MJC), which has failed to yield annual profits since 2005.
In its latest financial results, published in July, the company recorded losses of MOP4.07 billion for the financial year ended December 2016.
The MJC generated total revenues from horserace betting of MOP141 million in 2016, down 15 per cent from MOP166 million in 2015, according to official data from the Gaming Inspection and Co-ordination Bureau (DICJ).