AGEM Board of Directors Actions – April 2019
- Those in attendance at the monthly AGEM meeting acknowledged the retirement of Tom Nieman from both JCM Global and AGEM after an epic career that started when he joined Bally Manufacturing in 1972. Formerly president of AGEM in 2017 and 2018, Nieman was currently serving as AGEM treasurer. Among his many accomplishments was organizing the annual AGEM-AGA Golf Classic presented by JCM Global that has raised millions of dollars for the National Center for Responsible Gaming. The 21st edition of the tournament will take place May 7 at the Cascata golf course in Boulder City, Nevada.
- The AGEM board hosted Allie Barth, vice president of industry relations for the American Gaming Association, and Korbi Carrison, event director, Global Gaming Expo/Reed Exhibitions, who updated the group on the new “Good Neighbor Pledge” at both G2E and G2E Asia. Exhibitors are being asked to “agree that the industry is strongest when it works together, while simultaneously acknowledging that competition is inherent and healthy.” Barth and Carrison also previewed the G2E Asia show overall and provided an update on efforts to improve exhibitor satisfaction at the Las Vegas event.
- The AGEM-initiated Nevada workforce development effort to lower the age of gaming supplier employment and internships from 21 to 18 continues to move forward as Assembly Bill 221, and received unanimous support from the Assembly Judiciary Committee after a hearing on March 13.
- AGEM members heard the news that Maryland House Bill 987 that would have required casino patrons in Maryland to play machines only after scrolling through a complete list of odds for every winning combination failed to advance after an outcry from both suppliers and operators.
- AGEM Director of Responsible Gaming Connie Jones highlighted her activities on behalf of AGEM, including participating in two sessions at the International Masters of Gaming Law Spring Conference in New Orleans and serving on the search committee that selected Stephanie Goodman as the new head of the Problem Gambling Center in Las Vegas.
- AGEM welcomed new Bronze member Next Gaming and Associate members Entropy Cabinet Solutions, Innovum Technologies and Panasonic Corporation in April. This takes membership to an all-time high of 175 companies.
- AGEM is a sponsor of the Japan Gaming Congress, set for May 16-17 in Tokyo.
- AGEM will have a booth and be a participating partner, in conjunction with the AGA and Reed Exhibitions, at G2E Asia, set for May 21-23 at the Venetian Macao.
The AGEM Index decreased in March 2019 by 11.27 points to 452.46 points, a 2.43% decline from February 2019. The AGEM Index’s March 2019 decline was driven by a 24.7% decrease in the stock price of International Game Technology Plc. (IGT), which dropped from $17.25 to $12.99. The stock was responsible for 10.37 points of the AGEM Index’s March decline. Scientific Games Corporation (SGMS) experienced a 29.73% stock price drop from $29.06 to $20.42, which led to a contribution of negative 8.87 points. The major stock indices outperformed the AGEM Index as the Dow Jones Industrial Average grew by less than 0.1%, the S&P 500 experienced an increase of 1.8% and the NASDAQ grew by 2.6%.