The AGEM Index increased by 6.95 points in October 2019 to 507.64 points, a 1.4 percent gain from September 2019. The growth was driven largely by a 3.3 percent increase in the stock price of Aristocrat Leisure Limited (ASX: ALL), which climbed from AU$30.60 to AU$31.62. The stock was responsible for 12.18 points of the AGEM Index’s monthly gain. Scientific Games Corporation (SGMS) experienced a 17.9 percent stock price gain from $20.35 to $23.99, which led to an index contribution of 6.32 points. Overall, most AGEM Index companies reported increases in stock price during the month, with nine trending positively and four moving negatively. The major stock indices performed well as the Dow Jones Industrial Average and the S&P 500 experienced monthly growth of 0.5 percent and 2 percent, respectively. The NASDAQ experienced a strong gain of 3.7 percent.
AGEM Board of Directors Actions – November 2019
- After an extensive search, the International Center for Gaming Regulations at University of Nevada, Las Vegas announced the appointment of Joe Bertolone as the new executive director. An experienced industry veteran, Bertolone’s most recent position was president of Ainsworth Game Technology’s North America division. He also served previously at the Nevada Gaming Control Board. AGEM is a major contributor of the ICGR, which launched in 2016 as the world’s first academic center dedicated to research and education in gaming, guiding the world’s gaming policymakers and regulators as they make decisions that govern the industry. The AGEM Board and members look forward to working with Bertolone once he formally takes up his position.
- AGEM President Luke Orchard and his compliance representatives from IGT recently met with Nevada Gaming Control Board Chairwoman Sandra Morgan to revisit the “assume responsibility” language in the current regulations that has been debated in the past as it relates to slot companies in particular taking responsibility for any software, hardware or other components in their products that may originate from companies not licensed in Nevada. Chairwoman Morgan is now reviewing the information and it is hoped a simplified update will be agreed that is satisfactory to all sides.
- AGEM hosted a Japanese government delegation at its booth during G2E. The meeting was very positive with both groups keen to continue the ongoing dialogue between suppliers and those who will be creating the regulatory structure for gaming in Japan. Already AGEM members have assisted in contributing machines, systems and progressives for their gaming lab in preparation for when the regulatory body is officially formed in early January next year.
- Connie Jones, AGEM director of responsible gaming, recently facilitated an impressive panel of speakers for “Using New Tools to Help with Responsible Gaming” at the G2E’s iGaming Congress. This formed part of the education sessions at the trade show and covered how new tools such as blockchain and artificial intelligence can assist the industry with identifying and responding to problem gamblers.
- November saw four new companies join AGEM. Slot machine manufacturer, Blueberi based in Quebec, Canada, was approved as a Bronze member. Associate membership was also approved for the Astound Group, a creative and exhibit company with offices across North America; RAD Game Tools, providers of video game development tools based in Kirkland, Washington, and exhibit company RES-Exhibits Services, based in Rochester, New York. The membership now totals 173 global companies.
- The annual AGEM Cup Golf Tournament and Holiday Reception was set for November 22 at the Bali Hai Golf Club, Las Vegas. Invitations are open to the full membership seeing 20 two-person teams compete for the prestigious prize. A reception and awards presentation followed the competition and was open to players and non-players.