The Macau government decided on Monday to terminate early an agreement with the Macau Jockey Club to operate the city's horse race meetings from April 1, marking the end of horse racing activities in the gaming hub.

The agreement, signed in 2018, was intended to last until August 31, 2042 on the condition that the club would invest 1.5 billion patacas in sustainable development by the end of last year, which it failed to do.

The club submitted a request to the government in 2023 to terminate its horseracing concession, citing its operational difficulties and the inability of horse-racing activities to meet the current development needs of society.

"Despite having a history of over 40 years, modern horse racing in Macao has experienced a decline in popularity among locals and tourists in recent years," a government statement said.

The Taipa racecourse and its related facilities will revert to the government after April 1. However, they would be temporarily provided to the club to ensure an orderly and phased transfer of horses to other locations by March 31, 2025.