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AGEM August 2023 Monthly Meeting Recap

August 2023

AGEM August 2023 Monthly Meeting Recap

AGEM held its August 2023 monthly gathering via Zoom on August 15, 2023.

  • As part of the agenda, Executive Director Daron Dorsey welcomed four new members to AGEM: Castle Hill Gaming (Bronze), Trestle Gaming (Bronze), Dreidel MX (Associate) and MGR Casino Chairs (Associate).
  • RX representatives provided an overview of the upcoming G2E Las Vegas event in October, including some updates and plans for the 2023 event. Dorsey also noted ongoing engagement with the G2E Steering Committee and AGEM’s sponsorship of the Chairman’s Reception and other events during the week.
  • AGEM Director of Europe Tracy Cohen provided key items in her August report, including the news that ICE will be relocating from London to Barcelona, Spain starting in 2025.
  • AGEM Director of Responsible Gaming Connie Jones provided her monthly report, including a recap of the National Council for Problem Gaming Annual Conference in Washington, D.C. AGEM’s Responsible Gaming Committee was set to meet August 31, and is currently working on some programming for Responsible Gaming Education Month in September.
  • AGEM has agreed to sponsor and contribute to the American Indian Science & Engineering Society (AISES) and its efforts. Contributions to AISES expand STEM opportunities in the casino gaming industry for indigenous persons. AGEM looks forward to supporting scholarship and workforce development efforts, and again agreed to be a joint sponsor of the European Casino Association (ECA) Executive Development Program (EDP) Diversity Scholarship. This scholarship, now in its sixth year, sees the ECA partnering with AGEM, Clarion Gaming and the EDP to award two aspiring gaming employees a full scholarship to EDP, the prestigious global gaming leadership event that will take place November 4–12 in Lake Tahoe, Nevada.
  • Nominations for the 2023 AGEM Memorial Awards were due by August 31. For anyone who wishes to submit a nomination, they are encouraged to send them to Daron Dorsey or AGEM President Bob Parente.

Forthcoming Events

  • SBC Summit Barcelona (September 19-21, Fira Barcelona Montjuic, Barcelona, Spain).
  • AGEM’s September 2023 monthly gathering will take place via Zoom on September 12, at 8 a.m. PST.

The AGEM Index increased by 43.4 points in July to 1,094.16, a 4.1 percent increase from the prior month. Compared to one year ago, the index was up 230.33 points, or 26.7 percent. During the latest month, 10 of the 12 AGEM Index companies reported stock price increases, which resulted in 10 positive contributions and two negative contributions to the AGEM Index. The largest positive contribution to the monthly index was sourced to Konami Corp. (TYO: 9766), whose 6 percent increase in stock price led to a 13.06-point gain to the index. Meanwhile, Aristocrat Leisure Limited (ASX: ALL) saw its stock price increase by 1.6 percent, leading to a 9.67-point gain for the index. The largest negative contribution to the index was sourced to Inspired Entertainment, Inc. (Nasdaq: INSE), whose 14.4 percent decrease in stock price resulted in a 1.1-point loss for the AGEM Index. The three major U.S. stock indices all experienced growth in July. The NASDAQ increased by 4 percent over the month, while the Dow Jones Industrial Average grew by 3.4 percent. Meanwhile, the S&P 500 increased by 3.1 percent from the prior month.

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