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AGEM Board of Directors Actions

December 2020

AGEM Board of Directors Actions

  • AGEM members received the news that Nevada Governor Steve Sisolak recently appointed J. Brin Gibson, his former general counsel, to serve as the new chairman of the Nevada Gaming Control Board following the resignation of former Chairwoman Sandra Douglass Morgan. He has previously served as chief legal counsel to Nevada’s gaming regulatory agencies as well as the Nevada Gaming Policy Committee. Chairman Gibson has accepted an invitation to address the January AGEM Board Meeting to give a brief introduction and forecast some of the items the GCB will be working on going forward under his leadership.
  • In advance of the 2021 election of AGEM officers, a slate was presented to members at the December meeting. The new board will be confirmed at the January meeting consisting of a new president, who will replace Luke Orchard as his two-year term has come to an end. The other seven officers all have one-year terms.
  • The new Clarion management team gave a short presentation to AGEM members at the recent board meeting providing a general update and latest news for the ICE London and NIGA shows. Group Managing Director Alex Pratt and Managing Director Stuart Hunter were joined by Non-Executive Chairwoman Kate Chambers. They spoke about the new show dates for ICE (June 29-July 1) and outlined plans for making the event safe and secure for visitors. Exhibitors remain supportive of the event, with currently 85 percent of the 2020 event already contracted. News of the vaccine has provided positivity and Clarion is planning to invest in a host of new features which will be unveiled in the coming months. The dates for NIGA are provisionally set for April in San Diego. If restrictions are not lifted at that time, there are secondary dates of June 7-10 in New Orleans.
  • AGEM members were urged to use and share the Nevada Covid Trace App with their teams due to the number of Covid-19 cases trending upwards. Developed by the Nevada Department of Health and Human Services, the contact tracing mobile app has been designed to help Nevadans protect each other and slow the spread by notifying if you’ve likely been exposed to Covid-19, empowering individuals to quarantine effectively, seek timely medical attention and reduce risk to friends and family. The app can be downloaded for free from the Apple App Store or Google Play.
  • AGEM members were told the introduction of sports betting and iGaming in Michigan has been delayed slightly and will not go live by the end of the year, but now in January. The Michigan Gaming Control Board is waiting for the green light while the rules and regulations go through the final review process before the official launch, but in the meantime is being flooded by companies making applications. The Michigan legislature is also considering two bills that may provide expansion opportunities for suppliers—one focused on multi-jurisdictional poker and one targeting historical horse racing machines.
  • Two new Associate members were welcomed to AGEM in December, taking the membership to yet another all-time high of 187 members. The Innovation Group, based in Littleton, Colorado, provides consulting and management services in gaming, hospitality, leisure and entertainment. USI Insurance Services based in Las Vegas is one of the largest insurance brokerage and consulting firms in the world, providing comprehensive insurance and risk management solutions for all sectors of the gaming industry.

AGEM INDEX

The AGEM Index increased 136.41 points in November 2020 to 631.72 points, a 27.5 percent gain from October 2020. Overall, the majority of AGEM Index companies reported rises in stock price during the month, with 12 trending positively and one moving negatively. The stock price of Konami Corp. (TYO.9766) grew 37.6 percent and contributed 39.45 points to the AGEM Index’s November gain. Additionally, the stock price for Aristocrat Leisure Limited (ALL.AX) increased 11.6 percent, which led to an index contribution of 35.65 points. The major stock indices advanced sharply in November, as well. The NASDAQ and the Dow Jones Industrial Average climbed by 12.2 percent and 11.3 percent, respectively, while the S&P 500 grew by 10.9 percent.

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