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Tony Tong on Protecting Macau gambling through transparency

TAGs: CAI, MGIA, Tony Tong, Video

Calvinayre’s Stephanie Raquel interviewed Tony Tong of MGIA and He tells us about the newly established organization and the role to the gambling industry.

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The Macau Gaming Information Association (MGIA) has vowed to change the negative image of the whole gambling industry through transparency and with the use of a mobile application.

Tony Tong, vice chairman of the MGIA, acknowledges that the lack of transparency in Macau casinos made it hard for investors to adequately assess risk in the market. This lack of transparency, he said, has become a stumbling block for growth of the gaming city.

As a solution to this quandary, Tong said different junket operators have decided to join forces and establish the MGIA to protect the interest of investors. The association’s member companies include around 100 of the city’s 141 gaming promoters.

“Previously, there have been lots of complaints from people that there’s lack of transparency. It is difficult for people to learn about what’s happening within this industry,” Tong told CalvinAyre.com. “We are here for the long term sustainable healthy development of the gaming industry. That we welcome everyone as our member, and now our membership is free.”

To allay the fear of investors and promote transparency in the Macau market, Tong said the group has launched a mobile application which will be the ultimate source of daily junket-related news and information.

Tong explained that investors only need to register their information right after they have downloaded the mobile application.

“You can read the news, share the news with other people, you can share text messages and pictures, and photos. So it’s a very useful app and it gives you updated information from first hand sources,” he said.

The group, he said, has also extended help to victims of Dore incident, which happened in Macau a few months ago.

He said that one victim, who suffered from a heart attack as a result of the Dore scandal, received one hundred thousand dollar-worth of emergency charity donation.

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