AGEM members had an in-person presentation by Bill Miller, president and CEO of the American Gaming Association, at its September board of directors meeting. It was the first time Miller addressed the membership since taking up his position early in the year.
He shared some of his focus points, highlighting the positive impact the industry brings to communities in the United States. The AGA’s Get To Know Gaming initiative is a powerful vehicle, introducing politicians and the community to the benefits and economic impact that gaming achieves. The AGA is also working with new business partners, such as the sports betting sector, to share knowledge and best practices that a controlled industry like gaming brings.
He also emphasized the importance of modernization to ensure the industry is streamlined and can operate in today’s world, including the responsible introduction of cashless gaming. He further endorsed the close working relationship that the AGA and AGEM continue to enjoy.
- Korbi Carrison, Reed event director for G2E, gave AGEM members a preview update. She shared that tracking on general registration is 8 percent ahead of the same time last year, and an impressive 44 percent ahead on key buyer registrations, particularly from Latin America.
There has been a major focus on improving the conference content that has resulted in the education program tracking 18 percent ahead of the same time last year. Importantly, this growth is not being driven by existing exhibitors, but by new exhibitors and sectors entering the show.
- AGEM attempted to garner a deadline extension regarding Apple’s guideline changes for gaming apps; that directive mandated that all new gaming apps be native to iOS by September 3. AGEM’s efforts appeared to have gone cold, as the deadline passed with no direct updates from Apple. However, Apple subsequently announced that a new deadline has been set for March 3, 2020. It’s positive news for all involved and should now give suppliers more time to conform.
- Earlier this year, AGEM agreed to be a joint sponsor of the European Casino Association (ECA) Executive Development Program (EDP) Gender Diversity Scholarship. This important award was launched last year and sees the ECA partnering with AGEM, Clarion Gaming and the EDP to award one aspiring female gaming employee a full-ride scholarship to the EDP—the prestigious global gaming leadership course that will take place November 9-17 in Lake Tahoe, Nevada. This year’s winner has been named as Dolly Sananes Bascou, head of marketing and communications and gaming operations at Monte-Carlo Société des Bains de Mer.
- AGEM welcomed a new Associate Member in September. AmericanChecked, based in Tulsa, Oklahoma, is a nationally accredited consumer reporting agency providing background screening checks for the industry with a particular focus on tribal gaming.
- G2E 2019 will be held October 15-17 at the Sands Convention Center, Las Vegas. AGEM will once again have a booth at the show located just inside the main show floor entrance.
The AGEM Index decreased in August 2019 by 21.6 points to 473.36 points, a 4.4 percent drop from July 2019. The decline was driven largely by a 2.9 percent decrease in the stock price of Aristocrat Leisure Ltd. (ASX: ALL), which declined from AU$30.65 to AU$29.75. The stock was responsible for 9.62 points of the AGEM Index’s monthly decrease. Crane Co. (CR) experienced an 8.9 percent stock price drop from $83.70 to $76.24, which led to a contribution of negative 6.77 points.
Overall, most AGEM Index companies reported decreases in stock price during the month, with four trending positively and nine moving negatively. The major stock indices did not perform well as the Dow Jones Industrial Average and the S&P 500 experienced monthly declines of 1.7 percent and 1.8 percent, respectively. The NASDAQ also did not have a strong month, decreasing by 2.6 percent.