AGEM Board of Directors Actions for March 2021
- AGEM’s ongoing work in Mexico has seen some very positive steps recently, following the chairman of the AGEM Mexico Committee Carlos Carrión of Aristocrat meeting last month with the new SEGOB Director Alma Itzec De Lira Castillo. SEGOB announced the organization of the “Innovation Symposium in the Games and Draws Sector” proposal for a new federal law for late March that, among other items, will review the proposed changes to the federal gambling law that has remained virtually unchanged since the 1930s. AGEM members that have business in Mexico were invited to attend the virtual event, which will also see other industry organizations such as operator trade groups AIEJA and APPJSAC represented. In other good news, it is hoped the proposed Norma Oficial Mexicana (NOM) certification that would add a further layer of certification to gaming machines will now be shelved as the new SEGOB director and the president of Mexico have recently voiced their opposition to the NOM moving forward.
- The first G2E Steering Committee meeting was held on February 17 and featured two members each from AGEM, the American Gaming Association and Reed Exhibitions who got together to decide major issues that ultimately shape the show. The first meeting covered just highlights, and also saw Reed introduce a new Health & Safety initiative that was subsequently shared with all the AGEM members. As a first step in the process, G2E has added a health and safety page on the G2E website that contains Reed Exhibitions’ initial planning information for events and will be the foundation when developing G2E-specific guidelines. This content will continue to evolve as they learn from other in-person events and consult with local and state officials in Nevada and the Sands Expo. G2E-specific safety plans and official regulations will be on the website as they become available.
- The AGEM/AGA 22nd Annual Golf Classic presented by JCM usually takes place in April or May, but is being postponed to a later date this year due to the pandemic. The event continues to be a key event for AGEM, providing a fundraiser for the International Center for Responsible Gaming (ICRG), and since its inception, has raised more than $2.2 million in donations for this very worthy organization. A questionnaire is being sent out to AGEM members to ascertain preferred dates, participation and format to understand the best ways to continue to support the ICRG in these challenging times.
- AGEM members recently approved three new Associate members to the roster, taking the total membership to an all-time high of 190 companies. Al in Motion, based in London, offers software, IT, administration, advertising and other supporting services to the betting industry. Fulwood Media, based in Middlesex, U.K., provides in-depth insight by connecting people with the right information and facilitating networking; and Unity Technologies, based in San Francisco, is a leading platform for creating and operating real-time 3D (RT3D) content.
- Jason Giles, executive director of the National Indian Gaming Association (NIGA), gave an update on the Indian Gaming Tradeshow & Convention at the AGEM March meeting. He confirmed the show will now take place in Las Vegas at the new Caesars Forum July 19-22 and run alongside the RES (Reservation Economic Summit) that will be located at Paris and Bally’s. There is hope that both shows will run at full capacity, but this depends on Governor Sisolak’s recent announcements of proposed easing of restrictions from 75 percent capacity in May, and if all goes to plan, hopefully 100 percent capacity on June 1
The AGEM Index improved by 55.72 points to 751.79 points in February 2021, an 8 percent growth rate over January 2021. During the latest period, all but one company in the AGEM Index reported increases in their stock prices over the month. The AGEM Index’s monthly growth was driven by a significant gain in the stock price of Agilysys (AGYS). The company’s stock price climbed by 62 percent and contributed 15.09 points to the AGEM Index. Another strong performer for the month was Scientific Games Corporation (SGMS), whose stock price increased 19.4 percent and contributed 14.94 points to the index’s monthly rise. The major stock indices performed well as the Dow Jones Industrial Average and the S&P 500 experienced monthly growth of 3.2 percent and 2.6 percent, respectively. The NASDAQ experienced a gain of 0.9 percent.