Macau Chief Executive Ho Iat Seng said this week that it could be “eight to 10 years” before the land upon which the Macau horse racing course sits is developed for future use.
Ho attended a question-and-answer session of the Legislative Assembly on Tuesday, during which he talked about the development of concert venues in Macau as well as the planning of the racecourse land. The Macau government terminated the Macau Jockey Club’s racing concession as of 1 April 2024 due to mounting losses.
In response to questioning, the Chief Executive said, “When the 2022 concession contract with the six concessionaires was granted, negotiations were already underway with them to have investments in non-gaming elements. After much negotiation, the amount of investment for the next 10 years was fixed.
“Macau has a foundation in performing concert venues, with better indoor venues than our neighbors. We’re building on that foundation and we’re thinking about more planning.
“We have a good indoor venue, but now we have a new requirement for an outdoor venue. We tried to have concerts near the Macau Tower, but it didn’t help the community economy, and this year’s concert at the Olympic Sport Centre Stadium (Taipa) inconvenienced the residents, proving that this venue is not suitable.”
Ho also pointed out that Hong Kong will soon have a 50,000-capacity stadium for concerts and Macau should find a venue for 50,000 people too.
“We have been looking into whether there is any unused land that can be used,” he said. “We hope to find a venue for 50,000 people by the end of this year, and we are confident that we will be able to deliver by the end of the year.
“We have a 20,000-person venue next to the Macau Tower and we’ll find a 50,000-person venue in Taipa.”
However, Ho noted, “This is a temporary site and it is not possible to dig the foundation again.”
Asked if the long-term location for a 50,000-person venue could be the racecourse land, the Chief Executive said he couldn’t disclose but stressed that development of the racecourse site would not be a short-term project.
“I can’t answer what the racecourse will do in the future, but it will be a multi-functional place, not a casino or accommodation,” he explained.
“The racecourse was handed back to the government on 1 April and is a long-term project. In the past, we have not considered what the racecourse should be, whether it should be used for sports or performing in the future, whether it should be invested by the government or be handed over to other people for investment. It is a whole series of things.
“[But] a racecourse is not a matter of two or three years’ planning, it may be a matter of eight or 10 years’ planning. It is a matter of long-term planning.
“It’s a multi-purpose plan that needs to be evaluated by an international organization, but that’s a year or two away.”
Lawrence Ho, the Chairman and CEO of Melco, has already expressed interest in developing the site, telling analysts in March that his company would respond “positively” if invited by the government.
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