MACAU, S.A.R. - Gambling on horseracing will continue to be in the hands of the Macau Jockey Club.
Earlier this week, the Macau Government, through an executive order signed by Chief Executive Fernando Chui Sai On extended MJC's bookmaking concession until August 31, 2011 allowing the Stanley Ho-controlled bookmaking firm to handle horseracing bets for another year.
MJC is part of Ho's gaming enterprise in Macau and is locally incorporated as Companhia de Corridas de Cavalos de Macau (Macau Horse Racing Company).
According to the order, the extension took effect last September 1st based on MJC's concession agreement signed with the Macau authorities last August 4, 1995. The said agreement was amended in 2000 through an executive order that regulated MJC's bookmaking operations.
For the first half of 2010, MJC has gross receipts of US$ 29.41 million, a 46% increase over the same period last year. It posted a betting amount of about US$ 150.2 million from January to June, up 46.6% over 2009.
Source: Macau News
