Shifts in consumer preferences have weighty implications for gaming sector’s future

A gaming expert has highlighted the significance of Macau’s gaming industry, emphasizing its status as one of the industry’s largest markets and “home to some of the most iconic gaming properties.”

In his keynote address at the Global Gaming Expo (G2E) Asia and the Asian IR Expo that officially commenced yesterday, Bill Miller, CEO and president of the American Gaming Association (AGA), noted that whilst post-Covid recovery began slowly, it is now gaining momentum, with Macau’s gross gaming revenue already reaching 75% of its pre-pandemic level. Miller believes that this growth will be sustained.

The gaming expert also drew attention to the growing importance of non-gaming investments, which are expanding the gaming industry’s customer base.

He praised Macau and Singapore’s substantial recovery from the pandemic and highlighted the Philippines’ emergence as one of the fastest-growing markets in the Asia Pacific region.

Meanwhile, shedding light on the industry’s future trajectory, Miller’s remarks centered on the post-Covid landscape, stating that “guests now place a higher premium on their experiences than ever before.” He emphasized that modern gaming enthusiasts not only value the casino floor but also the overall property experience, encompassing amenities, dining, and entertainment options. These shifts consumer preferences have significant implications for the industry’s future.

The CEO delved into the rapidly evolving Asian gaming landscape, highlighting the UAE’s Wynn Resort as a prime example.

Located on Al Marjan Island, this luxurious property will boast a range of high-end amenities, including a casino, upscale dining options, and world-class recreational facilities. Scheduled to open in 2027, the Wynn Resort marks a major milestone in the region’s gaming history.

Miller then drew a spotlight to Japan, where MGM is building a massive USD10 billion integrated resort in Osaka. He praised the project, likening it to the iconic Sydney Opera House, and predicted that it will draw an estimated 20 million visitors once it opens. This ambitious project is set to transform the Osaka gaming scene and cement its position as a major tourist destination.

The two major gaming and resort-related trade fairs, the G2E Asia and the Asian IR Expo officially commenced yesterday.

This year marks a significant milestone, the 15th edition of G2E Asia – the leading gaming-related exhibition in Asia. The three-day gaming showcase will continue until June 6, offering an unparalleled experience for gaming industry professionals and enthusiasts alike.

The event is organized by the AGA and Reed Exhibitions, and is expected to attract over 8,000 participants from across the region. Nadia Shaw

Organizers project ‘much stronger demand’ from the market

This year, the Global Gaming Expo (G2E) Asia will be held alongside the Asian IR Expo for the second time, focusing on the non-gaming aspects of integrated resorts.

Events organizer Reed Exhibitions emphasized the importance of this joint event, saying, “gaming operators are now diversifying into integrated resorts.” “We need to evolve ourselves to meet their needs, to understand what they’re looking for, the technologies they are going after, and the suppliers they want to talk to,” said Chien Ee Yeh, president of Reed Exhibitions (Asia-Pacific).

The concurrent hosting of the Asian IR Expo alongside G2E Asia aligns with Macau gaming operators’ efforts to explore non-gaming offerings, particularly as the city’s new 10-year gaming concessions commence in 2023.

“In the mid-term, I don’t see us separating the two [shows]. They will be co-located because that makes sense for our customers and visitors,” the executive said.

The organizers are pleased with the reception to both events. “We’re very excited to come back this year, full-scale. I think we’re going to see a much stronger demand and response from the market,” expressed Chien.

New highlights of G2E Asia 2024 + Asian IR Expo include the Technology Zone and Tech Talk Stage on the exhibition floor, showcasing the latest industry innovations and featuring presentations on identity management, security, hospitality, and customer relationship management.

The Sports and Entertainment Zone will also host exhibitors specializing in sports marketing, sports event management, and live entertainment, including TVB. NS