The Vietnamese government has approved an investment policy for the Thien Ma - Madagui Horse and Dog Racing Track, a 1,500 billion VND ($60 million) project in Lam Dong province, officially permitting betting operations.

Deputy Prime Minister Nguyen Hoa Binh recently signed the decision granting investment approval for the racecourse, located in Da Huoai District. The project, developed by Thien Ma - Madagui Horse Racing JSC, is one of 12 investment projects certified at the Lam Dong Provincial Planning Conference for the 2021-2030 period with a 2050 vision.

Key details of the racecourse project

Under the approved plan, the Lam Dong People's Committee is responsible for overseeing legal compliance, ensuring progress, and supervising the project's implementation.

The provincial authorities must also verify the completion of the dog racing track before granting a business license for betting operations.

Meanwhile, Thien Ma - Madagui is required to:

Outline a clear investment and funding plan for the project.

Ensure timely construction and implementation in line with commitments.

Establish a secure and stable betting system, including technology, software, and operational procedures.

Guarantee public security and order at the racecourse.

Speaking with VietNamNet, Nguyen Ngoc My, Chairman of Thien Ma - Madagui JSC, stated that following approval for betting operations, the company is expediting legal procedures and construction work.

A long-awaited project with a history of delays

 
The 70-hectare racecourse was initially granted investment certification in 2011. However, due to issues with land clearance and regulatory changes, the project has faced repeated delays.

In 2017, the company was permitted to operate a temporary 1,200-meter track and held nine prize-winning horse races. However, because the project lacked authorization for betting activities, authorities later ordered a halt to racing operations.

To comply with Asian Racing Federation (ARF) standards, Thien Ma - Madagui later modified its plans, expanding the closed-loop track to 2,000 meters. The company also sought approval for betting operations, both onsite and through a network of 50 betting locations across Vietnam (28 large and 22 small venues).

Thien Ma - Madagui JSC has extensive experience in horse racing, having previously partnered with Phu Tho Sports Club (District 11, Ho Chi Minh City) in 2004 to operate Phu Tho Racecourse before it closed in 2011.

The company also developed Lam Son Greyhound Racing Track in Vung Tau in 2000, which operated for over two decades before ceasing operations in 2023.

Anh Phuong