Extension of deadline to MTCSL

The MTC Sports and Leisure Ltd (MTCSL) has now until 7 April 2022 to submit all relevant documents for the Horse Racing Division (HRD) and the Gambling Regulatory Authority (GRA) to consider its application for a Horse Racing Organiser’s license.

This extension of the deadline was given to MTCSL on 25 March 2022, date on which it was expected to furnish essential documentation and information, namely : (i) latest audited financial statements for the period ending December 2021, (ii) certificate of solvency from auditors, (iii) lease agreements between MTC and MTCSL and (iv) information on MTCSL and its beneficial owners establishing to the satisfaction of the HRD that they must fulfil the criteria of fitness and propriety and other legal obligations pertaining on the Horse Racing Organiser.

The MTCSL applied for a Horse Racing Organiser’s Licence on 7 February 2022 and took the undertaking in writing to get its audited financial statements together with its certificate of solvency ready by 28 February 2022. Since then, the HRD has been lenient to MTCSL by giving several extensions of deadline, respectively on 11 March 2022 and 25 March 2022.

The GRA has reminded MTCSL that the new deadline of 7 April 2022 is final as stakeholders need to have visibility on the 2022 racing season. In the event MTCSL does not submit all required documentation an information by the final date, its application for a Horse Racing Organiser’s License will lapse.

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