*****************************************************
Pursuant to the Betting Duty Ordinance, the Secretary for Home Affairs today (September 8) approved an application from the HKJC Horse Race Betting Limited to enter into a new agreement with Macau Horse Racing Company to continue the one-way betting arrangement for qualified bets on Hong Kong horse races to be accepted in Macau.
The one-way betting arrangement was approved in January 2005 following the signing of a Deed for Telecast and Placing of Bets on Horse Races between the two companies. Since then, people in Macau have been able to place bets on Hong Kong horse races at the authorised venues of the Macau Horse Racing Company.
Following the enactment of the Betting Duty (Amendment) Ordinance 2006 in July this year, the two parties have agreed to terminate the old deed and sign a new one to reflect the changes in the horse race betting duty system.
A spokesman for the Home Affairs Bureau reiterated that the acceptance of qualified bets would benefit Hong Kong in terms of additional betting duty receivable.
He said: "The Government considers that acceptance of overseas bets on local races would not encourage gambling in Hong Kong as it explored overseas markets rather than expanded the local gambling market."
Ends/Friday, September 8, 2006
Issued at HKT 15:07
NNNN
