Macau Horse Racing Company Limited, the company behind the Macau Jockey Club, announced with regret that it has reached an agreement with the Macau government to terminate its concession contract. Under this agreement, the contract will expire on April 1, 2024.

The Macau Jockey Club was founded through a contract between the Portuguese government and shareholders. However, the introduction of flat horse racing by the Taiwanese consortium in 1989 impacted the club’s business negatively. In 1991, the government requested the club to undergo a restructuring led by the local gambling leaders, which allowed it to continue its operations.

Throughout its history, the Macau Jockey Club has always strived to diversify gaming and racing on horses and support the growth of tourism in the special administrative region. Despite this, Macau Horse Racing Company Limited pointed out that it has been operating at a loss, accumulated in excess of 2.5 billion.

To make matters worse, there has been limited room for the development and growth of the horse racing industry in Macau, the company added. This issue was further exacerbated by the COVID-19 pandemic and China’s Zero-COVID policy, which brought further adverse effects.

As a result, sustaining the Macau Jockey Club’s operations became increasingly difficult.

The Company Thanked Its Supporters

According to the official announcement, the Macau Horse Racing Company Limited’s board of directors eventually decided to cease all racing-related operations. Despite that, the current member facilities will remain available to the Macau Jockey Club’s members, the company added.

It also used the opportunity to thank all colleagues who supported the company throughout the years, lauding their valuable contributions.

You have all served with a high level of professionalism with global recognition. The company will conduct necessary briefing sessions for the staff, provide assistance and job referrals, and comply with the provisions of Macau labor law to provide appropriate compensation.

Macau Horse Racing Company Limited statement

The Macau Horse Racing Company also expressed its appreciation of all horse owners and members, thanking them for their ongoing support. It added that specific details regarding the necessary arrangement for their horses will be provided at a later date and no later than March 31.

The post Macau Jockey Club Terminates Concession as Losses Exceed $2.5B appeared first on Keno Wizard.

Churchill Downs Racetrack’s Jockey Club Suites, built and officially opened just in time for the 2004 Kentucky Derby, will undergo a massive renovation valued at $14 million. The purpose of the renovation procedure is to modernize the luxurious hospitality offerings at the iconic racetrack home of The Kentucky Derby, the longest yearly sporting event in the US held every year since 1875. 

All of Churchill Downs’ 61 suites located on the fourth, fifth, and sixth floors at the Jockey Club in the tower adjacent to the historic Twin Spires along the homestretch will be included in the renovation project. Plans also include all restrooms, dining spaces, and common areas of the club used by up to 2,500 guests, which is the Jockey Club Suites’ maximum accommodation capacity. 

The Suites, “a Core Premium Hospitality Product” 

According to Churchill Downs’ president, Mike Anderson, the modernization project has the purpose of guaranteeing that both existing and upcoming suite holders will be granted the premium entertainment experiences that Churchill Downs is best known for, especially during the much-anticipated Kentucky Derby Week along with the rest of the popular racing events including the thoroughbred horse race meets in spring, September and fall held in Louisville.

Prices for a suite at the Jockey Club start at $750 and they go up during the biggest events throughout the year. For example, during the Kentucky Derby, guests frequently pay more than $200,000 for a single suite. Single suite options can accommodate up to 24 guests while double suites can host up to 50 guests. All suites offer food and beverage options that can be customized by guests according to their personal needs.

All rooms feature private self-service wagering terminals, reserved parking, souvenir glasses on Derby Day and Oaks Day, along with a dedicated wait staff, a wet bar, temperature-controlled bar and kitchen areas with dedicated lounge seatings, and private balconies with panoramic views over the racetrack.

The Jockey Club Suites Clubhouse features dining tables suitable for ten guests per table. The same Clubhouse is also home to the Grand Foyer, the Triple Crown Ballroom, and the Derby and Oaks meeting rooms. The freshly opened Triple Crown Balcony is a top-tier rental space for special events held during the year.

The Makeover to Be Completed in Time for the Next Derby

While Churchill Downs has not offered any details regarding the exact modernization that will take place at the suites, the process is expected to be over right in time for the upcoming 150th Kentucky Derby that will take place on May 3-4, 2024. 

The 149th Derby held on May 5, 2023, once again gathered over 150,000 exuberant fans eager to watch America’s greatest race. Next year’s derby is expected to bring together the same vibrant and spirited public, many of whom will be able to seek accommodation in the freshly renovated suites at the Jockey Club. 

At the end of June, FanDuel’s director of communications, Alexander Pitocchelli, confirmed their plans to sign up a partnership with Churchill Downs in order to secure access to Kentucky’s sports betting market.

Last September, Churchill Downs Incorporated acquired Ellis Park Racing and Gaming in Henderson, Kentucky as a result of a cash deal valued at $79 million.

The post Churchill Downs’ Jockey Club Suites to Receive Makeover for Kentucky Derby appeared first on Keno Wizard.