Thursday, 22 June 2017 00:44

    Horse-racing courses in the final furlong

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    Hong Kong’s Matrix Holding Limited has proposed to develop a horse racing complex, the move came immediately after the decree on betting services for specific sport games was submitted to the government in June.

    According to a VIR’s source, Hong Kong’s Matrix Holding Limited aims to set up a complex which consists of a horse racetrack, a healthcare unit, betting and entertainment services in the central city of Danang.

    The complex’s total investment  capital has not been released, but it will not be less than $47 million, which is known as the minimum investment capital sum for a horse-racing course to be licensed in accordance to the latest draft decree on betting services for specific sport games.

    The source shared with VIR that investors had calculated the cost for renting land to run the complex.

    They have spent a great deal of time and effort on this project and emphasised that that they could not make profits from horse racing unless they are permitted to provide entertainment services, such as betting.

    According to the draft decree, betting services could only commence after investors have completed the set up of all equipment for the sport game operation.

    Investors would be also allowed to operate betting shops that offer betting services in selected cities and provinces where the operation would be closely monitored by the Ministry of Finance.

    In the same line, last month Australian Golden Turf Club Limited Company received an investment certificate for a $100 million investment for a racecourse in the south-central province of Phu Yen.

     

    The course includes a grandstand, horse and dog racing tracks, and a high-class tourism area to prepare for betting services when the decree is ratified.

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