The MGS Summit promises a deep dive into the transformation of Macau’s gaming industry with a high-profile panel discussion featuring representatives from all six gaming concessionaires. Titled “Pioneering a New Macau,” this panel will dissect the day-to-day implications of Macau’s new 10-year gaming concessions. These concessions, totaling a staggering MOP$109 billion (US$13.6 billion), signal a pivotal shift from a VIP-centric market to one strategically centered on mass appeal. The discussion, moderated by Professor Davis Fong of the University of Macau, will also explore the impact of technological advancements, the push for international visitation, and the evolving Asia-Pacific resort industry landscape.
Key Elements of the Panel Discussion:
Overview of Macau’s New 10-Year Gaming Concessions:
A comprehensive examination of the key requirements under the new concessions, emphasizing the ambitious MOP$109 billion investment in non-gaming initiatives.
Insight into the government’s vision for economic diversification, spanning areas such as MICE, entertainment, sports, art and culture, community development, health, maritime tourism, and more.
Transition from VIP to Mass Market:
Exploration of the strategic shift from catering predominantly to VIP clientele to a more inclusive mass market approach.
Analysis of the challenges and opportunities associated with this transition and its potential impact on Macau’s economic landscape.
Technological Impact on Concessionaires:
Examination of how rapid technological changes in an increasingly digital world are influencing the operations and strategies of Macau’s gaming concessionaires.
Discussion on how these technological advancements are reshaping the gaming experience and business models.
Internationalization and Changing Visitational Landscape:
Insights into the concessionaires’ perspectives on the government’s desire for more international visitation to Macau.
Analysis of the changing international landscape for the Asia-Pacific resort industry and its implications for Macau’s gaming sector.
Panelists and Their Perspectives:
Craig Fullalove (Wynn Macau): Chief Financial Officer and Chief Administrative Officer.
Frank McFadden (SJM Resorts): Chief Operating Officer – Gaming & Hospitality.
Buddy Lam (Galaxy Entertainment Group): Executive Vice President, Corporate Office.
Raymond Lo (Melco Resorts): Senior Vice President and Property General Manager of Altira Macau and Mocha Clubs.
Hubert Wang (MGM China): President and Chief Operating Officer.
Wilfred Wong (Sands China): President and Executive Director.
Summit Highlights Beyond the Panel:
Keynote Address by Kevin Kelley: Chief Operating Officer – Macau at Galaxy Entertainment Group.
Future of AI in Gaming: A session presented by GLI’s Ian Hughes exploring the future applications of Artificial Intelligence in gaming.
Market Developments Across Asia: Discussion involving leading industry suppliers.
Challenges and Opportunities Facing Concessionaires: Presentation by Professor Wang Changbin from Macao Polytechnic University.
Remote Gaming in the Philippines: A comprehensive discussion on this evolving segment.
As Macau charts a new course in the gaming industry, this panel discussion serves as a beacon, offering diverse perspectives from key players steering the ship. From the monumental investment in non-gaming initiatives to the strategic shift towards mass appeal, the insights gleaned from this discussion will undoubtedly shape the trajectory of Macau’s gaming landscape in the coming years. The MGS Summit, with its array of sessions, presents a holistic view of the challenges and opportunities in the ever-evolving realm of Asian gaming.