- In a bid to improve regulation of gaming technology in Nevada, the Nevada Gaming Control Board (NGCB) held a workshop on March 21 on the topic. AGEM Executive Director Daron Dorsey participated in the workshop, along with representatives from several casino operators and gaming suppliers. Among the specific matters addressed by AGEM and other industry representatives was the role of independent testing laboratories in the certification of new gaming technologies, as well as whether Nevada’s field trial process could be streamlined for games that have already been approved in other markets. The first meeting went well, and paves the way for continuing more positive discussions between the NGCB and the industry.
- The NGCB also held another workshop meeting on April 12 on proposing to eliminate certain regulations currently in use in Nevada with an aim to streamline processes and fulfill Governor Joe Lombardo’s recent executive order to state agencies on reducing unnecessary or unneeded regulations affecting Nevada businesses. Dorsey attended the workshop to signal AGEM’s support for this and future initiatives to eliminate outdated or unneeded regulations affecting gaming licensees in Nevada. AGEM’s officers, Compliance Committee and outside counsel will be engaging with the NGCB to propose and recommend further actions on the subject in the months to come. Any proposal for changes or amendments will require Nevada Gaming Commission action to modify or eliminate any current regulations.
- AGEM recently published its biannual Industry Impact Analysis and Report, which provides an extensive overview of the supplier sector, both in the U.S. and globally. The latest report, which captures the last reported financial year in the 2021-22 period for all responders, has received positive press coverage and importantly highlights the benefits the industry brings to communities through job creation, wage growth and general improvements to society. Additionally, the report shows that the gaming supplier sector has been resilient and profitable, continuing to grow and recover as we come out of the pandemic. The full report is available to download at https://bit.ly/Econ-Impact.
- The Indian Gaming Association Trade Show and Convention was held March 27-30 in San Diego. Many AGEM members participated and exhibited at the event, and by all accounts the show was successful. AGEM’s Dorsey and President Bob Parente attended a reception prior to the show, presenting a contribution of $50,000 to the Tribal Education Fund. This important initiative allows tribal communities to build capacity within their education departments, provide much needed services, and design and develop infrastructure to ensure Native American public school student success, making them college, career and civic ready.
- The 24th Annual AGEM-AGA Golf Classic Presented by JCM will be held on May 3, at the beautiful Cascata Golf Course. This year’s event has almost sold out, and is poised to be a great success for a worthy cause, the International Center for Responsible Gaming.
The AGEM Index decreased by 5.1 points in March 2023 to 945.81, a 0.5 percent decrease from the prior month. Compared to one year ago, the index was down 9.59 points, or 1 percent. During the latest month, six of the 12 AGEM Index companies reported stock price increases, which resulted in five positive contributions to the AGEM Index and seven negative contributions. The largest positive contribution to the monthly index was sourced to Konami Corp. (TYO: 9766), whose 1 percent increase in stock price led to a 4.7-point gain to the index. Additionally, Aristocrat Leisure Limited (ASX: ALL) saw its stock price increase by 1.8 percent, leading to a 3.94-point gain for the index. The largest negative contribution to the index was sourced to Crane Co. (NYSE: CR), whose 5.2 percent decrease in stock price resulted in a 7.19-point loss for the AGEM Index. All three major U.S. stock indices saw month-over-month increases in March. The NASDAQ increased by 6.7 percent from February, while the S&P 500 grew by 3.5 percent. Meanwhile, the Dow Jones Industrial Average increased by 1.9 percent from the prior period.