Jay Chun: MGS Summit 2022 to discuss Macau market changes across six core topics

August 22, 2022 Macau Events & Announcements Industry Updates

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.