Owner of billion-dollar horse racing project requests to open more betting on illegal land

Land use purpose not changed

The Department of Natural Resources and Environment (DONRE) of Lam Dong has just sent a document to the Department of Planning and Investment (DPI) of the province to give its opinion on the project of Thien Ma - Madagui Horse Racing Course - Polo and Horse Performance Club (Thien Ma - Madagui Horse Racing Course).

This is a project invested by Thien Ma – Madagui Horse Racing Joint Stock Company (Thien Ma Company), with a scale of 70 hectares, located in village 4, Da Oai commune, Da Huoai district, Lam Dong province.

Based on the separation from the 335.86ha Da Huoai Horse Breeding and Training Center and Tourism project of Hong Lam - Madagui Company Limited (Hong Lam Company), the Thien Ma - Madagui Horse Racing Course project was granted the first investment certificate in 2011. The project's operating period is until 2056.

According to the Department of Natural Resources and Environment of Lam Dong, in May 2022, the People's Committee of Lam Dong province issued a decision to adjust the land area leased to Thien Ma Company and Hong Lam Company to implement projects in Da Oai commune, Da Huoai district.

Specifically: Hong Lam Company leased 155 hectares of land to build the Da Huoai Horse Racing and Tourism Center project and leased 56 hectares to implement the Hong Lam – Madagui Golf Course project. Both of these lands are perennial crops, with a term of use until 2056;

Thien Ma Company leased 67 hectares of land to implement the Thien Ma – Madagui Horse Racing Course project. This land is also used for perennial crops, with a term of use until 2056.

A corner of the Thien Ma – Madagui Racecourse project – Polo and horse performance club. (Photo: VGP/Manh Hung)

Lam Dong Department of Natural Resources and Environment said that according to the established land records so far, the project of Hong Lam Company and Thien Ma Company has not completed the land use purpose change records. The reason is that the two companies have not completed the approval of the adjustment of the master plan and the detailed plan 1/500 of the project.

Therefore, Lam Dong Department of Natural Resources and Environment has not yet had a basis to determine the location, boundaries, and area of land that needs to change land use purpose.

Regarding the proposal to adjust the Thien Ma Horse Racing Course project, Lam Dong Department of Natural Resources and Environment requested Lam Dong Department of Planning and Investment to consider the scale of the land fund to suit the reality. The land area needs to be determined according to land type criteria such as commercial service land, land for construction of sports facilities or other types of land suitable for the planning.

Regarding the planning of land use within the scope of the project, Lam Dong Department of Natural Resources and Environment proposed to consult the People's Committee of Da Huoai district to be consistent with the local land use planning for the period 2021 - 2030.

Regarding the review of the current status of the constructed items at the project, Lam Dong Department of Natural Resources and Environment proposed to establish a field inspection team, identify any violations, if any, and propose handling according to regulations.

Project behind schedule, investor requests to open 50 betting points

Regarding the Thien Ma – Madagui Horse Racing Course project, the Ministry of Planning and Investment also reported on the proposed project adjustment contents of Thien Ma Company.

Specifically, Thien Ma Company proposed to adjust the project name and add some project objectives such as: Building a dog racing track; organizing horse and dog racing activities; betting on horse and dog racing inside and outside the racetrack.

In addition, Thien Ma Company wants to increase the project investment capital from VND1,002 billion to more than VND1,548 billion. Of which, the investor's contributed capital is VND265 billion, the rest is mobilized capital and borrowed capital.

For off-track betting business, Thien Ma Company proposes to open 50 betting points (28 large points and 22 small points) nationwide.

According to the Ministry of Planning and Investment, the Thien Ma Horse Racing Course project has not been implemented on schedule according to the investment certificate. The investor has built a number of items and works without being allocated or leased land. At the same time, the construction procedures for the separated project have not been carried out.

The project has been implemented since 2011 and has adjusted many contents, including the project implementation progress. During the implementation process, Thien Ma Company had some violations, the project progress was prolonged, slower than the regulations, and the level of investment capital implementation was low.

Regarding the proposal to add horse and dog racing betting business to the project of Thien Ma Company, according to the Ministry of Planning and Investment, this content is under the Prime Minister's authority to approve the investment policy. For the remaining contents, Lam Dong Provincial People's Committee directed Lam Dong Department of Planning and Investment to consider according to its authority.

In case the project is approved by the Prime Minister in principle to add the betting business objective, before organizing betting activities, Thien Ma Company must carry out the procedure of granting a certificate of eligibility for betting business.

Hanoi wants to get richer from the horse racing track of more than 400 USD

According to Hanoi City, the entertainment complex and horse racing track project in Soc Son district will help increase budget revenue from tax collection by 66 million USD/year.

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