Macau Jockey Club, China, is to invest MOP3.5 billion (US$433.8 million) to diversification projects including a “horse theme park”.
The investment was revealed by by legislator Ella Lei Ching I during a Legislative Assembly (AL)
In August, plans were revealed detailing investments at the Macau Jockey Club that would include improving facilities, smart stables, a horse theme park and a riding school.
However there were concerns that the plans may be in trouble, since the operators of the Jockey Club had not made a profit since 2014.
Two hotels added to plans
According to the new investment plan, the money will be used in four phases. Plans have also been made for a park in the middle of the MJC compound and two hotels: a service apartment hotel and a 2-star hotel.
Construction for the hotel will begin in 2020. It is due to be completed between 2024 to 2026.
An investment plan was one of the conditions the Macau Jockey club had to fulfil in order to receive a 24-year extension of its horse racing betting monopoly. The extension was approved in February, and now the club must invest MOP1.5 billion (US$186 million) in improving the facilities at the venue and increasing non-gaming facilities.
Image courtesy Pointsmgods via Wikicommons
Macau | Updated: Jockey Club to invest up to MOP4.5 bln into diversifying its business
