Organized by the Macau Gaming Equipment Manufacturers Association (MGEMA), this year’s MGS Summit will be held on Wednesday 16 November 2022. IAG sits down with MGEMA Chairman Jay Chun to learn more about the return of MGS Summit.
IAG: The COVID-19 situation in Macau is still uncertain but that won’t stop MGS Summit from holding an online event. Why is it important to bring the industry together for an event like MGS Summit at this time?
Jay Chun: Considering the COVID-19 situation in Macau in recent years, MGS decided to move online and held an online summit for the first time in 2021, and it was quite successful. Therefore, in 2022, we will continue to hold it in an online format. On one hand, it will provide a platform for the industry affected by the pandemic to communicate and exchange ideas on how to break through, while on the other hand, this year is key and important for changes to Macau’s gaming laws, as well as the industry.
A summit like MGS to bring together all major enterprises and practitioners in Macau and in the region to jointly discuss the future, the development and the needs of Macau’s gaming industry is necessary.
IAG: What are the key topics and issues that will be discussed at MGS Summit?
JC: To keep up with the development of the era and industry, and to conform to the market adjustment of the gaming industry under the framework of the new gaming laws, this year’s theme will be “A NEW E.R.A – Entertainment, Renovation, Alignment”.
During the full-day summit, we will invite industry participants to take part and discuss the following six topics: “Macau’s Gaming Industry in a New Era”, “Technological Development of Macau’s Gaming Equipment Manufacturing”, “How to achieve a win-win situation for the industry under the Diversified Concept”, “The Digital Future – Internet, Currency and Beyond”, “Looking at Hengqin: Policy, Finance, and Real Industries” and “Expanding the Market: What’s Happening in Other Regions in Asia.”
IAG: Trade shows have changed due to COVID-19. What do you believe will be the main changes to trade shows going forward?
JC: Before the pandemic, the MICE industry was mainly physical, with virtual events only taking place as an added feature. However, during the pandemic, the MICE industry was forced to move online and optimize the exhibition experience through virtual technologies. Therefore, in the future, the MICE industry may apply face to face events as the core while introducing more virtual digital technology as an auxiliary, therefore presenting more hybrid exhibitions.
On the other hand, more exhibitors will have to observe strict cost controls due to the pandemic, so it is necessary to optimize the effect on the basis of the same or lower cost.
IAG: What is the long-term future of MGS?
JC: For MGS, the cores are always “Macau, “MICE/tradeshows” and “entertainment manufacturing technology”. Based on that, MGS will try to find the industry development trend with all of our exhibitors and industry professionals, while actively exploring in terms of internationalization, diversification and technology.
IAG: MGS began as a very gaming-focussed show but has gradually diversified. How do you see this playing out in the future?
JC: From the perspective of the industry, diversification is not just an attempt to increase revenue but it is also a requirement for enterprises written down in black and white by the government (particularly in the public tender document in recent times). In tandem with this trend, MGS, based on its own position as a leisure, entertainment and technology show, will expand in the areas of digital technology, eSports, cultural tourism and others, helping the industry look for a win-win solution to foster harmony between entertainment and diversified sectors.
IAG: MGS is organized by the MGEMA. Can you tell us about the association, its background and mission, and how it differs from other manufacturing associations globally?
JC: With more than 125 members comprised of technology and entertainment companies, the Macau Gaming Equipment Manufacturers Association (MGEMA) was founded in 2012 and is a non-profit association. For the past 10 years, the MGEMA has responded to the guidelines of the Macao SAR Government’s development vision of long-term sustainability.
Given the efforts of its members in creating the highest revenue of gaming equipment production in the past, the MGEMA has become one of the largest trade groups in the Asia-Pacific region. As a major contributor to the Macau economy, we have focused on maintaining a good relationship with the Macau government, and conveyed a message to the public that Macau is a city of creativity and innovation. Compared with other similar associations and trade groups in other regions around the world, we have not only spoken up for our members and the Macau gaming equipment manufacturing industry and made suggestions to the government, but we have also actively participated in all activities that can facilitate the development of the Macau entertainment and technology industry. This can help to broaden the horizon and create more opportunities for the Macau gaming equipment manufacturing industry.
IAG: How does the MGEMA plan to help the industry as it emerges from COVID-19?
JC: We believe that the demand for gaming equipment from Macau casinos in the next few years will be merged into the global rigid demand that stands at US$40 billion a year. In regard to the mid-to-long-term development of the industry, Macau should target the international market and encourage local companies to export their products, thus sharing a slice of that global US$40-billion market. It is necessary for the gaming industry to have structural adjustment and strengthen the development of the mass market so as to achieve the appropriate economic diversifications and sustainable development of Macau. This means it is essential to further bolster the quantity and quality of gaming equipment in Macau.
IAG: You have two co-organisers this year in Nam Kwong Culture and Creativity Industry Co Ltd and China National Machinery Industry International Co. What role do these organisations play?
JC: Nam Kwong Culture and Creativity Industry Co., Ltd is an outstanding state-owned company of culture and creativity, conferences and exhibitions, competitions and events, and advertising design and production. China National Machinery Industry International Co., Ltd is the largest and strongest state-owned company in the MICE sector of China. Both Nam Kwong and China National Machinery have been organizers of MGS since 2018, and have given full play to their respective strengths to expedite the professional operation of MGS.
They have helped MGS achieve its successful transformation into a leisure and technology show. Both companies are the major forces behind the integration of MGS into the overall economic development platform for the country and the Guangdong-Hong Kong-Macau Greater Bay Area, as well as cementing the role of MGS as a leisure, technology and commercial exchange platform and gateway between Macau, Mainland China and the rest of the world.
IAG: Finally Jay, why should people attend MGS Online Summit in November?
JC: This year, we’ll continue to invite representatives from Macau concessionaires and major equipment manufacturers to attend and participate in the summit discussions and speeches on the above six main topics, further discussing and interpreting the important changes in the market under the influence of various factors such as Macau’s new gaming law, gambling license re-tendering as well as the pandemic, while examining the current state of development of the industry in other regions in Asia.
As a professional media and consulting agency for the industry, IAG will also play an influential role to collaborate with MGS to present the most professional show that captures the latest trends for the industry.
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