AGEM Board of Directors Actions for September 2021
- AGEM members were informed the Japan Casino Regulatory Commission (JCRC) held a meeting for interested suppliers on September 29 in Tokyo. AGEM has been represented in Japan by Ken Kamano of Konami, who has been keeping the AGEM officers and the AGEM Compliance Committee informed and updated on pending technical standards and regulations as the market inches toward future integrated resort casinos.
- The AGEM Mexico Committee headed by Carlos Carrión of Aristocrat has in the past year enjoyed good relations with SEGOB Director Alma Itzec De Lira Castillo and Olga Sánchez Cordero, the Mexican Government secretary for the interior, working closely with both. However, it was announced recently that Cordero has stepped down and a new secretary, Adan Lopez, has been appointed. AGEM hopes this change will not stall the progress that has been made regarding proposals for a new federal law, along with the cancellation of the proposed “NOM” that would add a further layer of certification to gaming machines.
- The search for AGEM’s new executive director is approaching the final stages. The current executive director, Marcus Prater, is contractually on board through February 1, 2022, and meanwhile, the AGEM officers set up a search committee that has been tasked to recruit his successor. The officers and the search committee have now selected a candidate, and all AGEM voting members will be notified before the end of September to vote and ratify the selection. Once this process has concluded, the announcement will be made to the membership and then to the wider industry.
- With G2E fast approaching, Event Director Korbi Carrison gave an update to members at the September board meeting regarding Reed’s latest health and safety measures for G2E. Following the announcement that vaccine verification would be required for all visitors to the show, conference and meeting rooms, members were told how the proposed registration and entry process will work, along with requirements for setup teams. Reed also outlined that the show will be different to the 2019 event as many international visitors are unable to travel due to restrictions. However, based on other similar Reed event trends, even though exhibitor and visitor numbers were reduced from pre-pandemic times, the quality of attendees was good.
- AGEM will be located at G2E Booth 3700, and looks forward to welcoming members back to this premier industry event. Once again, the AGEM Memorial Awards presentation commemorating Jens Halle and Peter Mead will take place at the AGEM booth on October 6 at 4 p.m. As a follow-on from the 2020 virtual event, the awards will be videoed and distributed to members who were unable to attend, allowing the recipients to be honored by a wider industry audience.
- Also during G2E, AGEM is sponsoring the Kick Up Your Heels event hosted by Global Gaming Women, 5 p.m. to 7 p.m. on October 6 at Wynn. AGEM members approved a $5,000 contribution to support this well-attended event.
The AGEM Index increased by 87.57 points to an all-time high of 1,012.89 points in August 2021, a 9.5 percent gain from July 2021. In the last month, nearly all AGEM Index companies reported increases in stock price, with 10 posting positive contributions and two recording a negative contribution to the index. Compared to the prior year, the AGEM Index was up 109.9 percent, more than doubling from the 530.38-point level in August 2020. The AGEM Index’s August 2021 growth was due in large part to a 9.7 percent increase in the stock price of Aristocrat Leisure Limited (ASX: ALL), which rose from $41.64 to $45.67. The stock was responsible for a 26.73-point increase in the AGEM Index’s monthly growth. Other significant index contributors were Konami Corp. (TYO: 9766), which added 21.64 points due to a 14.7 percent rise in stock price, and Scientific Games Corporation (NASDQ: SGMS), which contributed 21.45 points with a 17.2 percent stock price increase. The major stock indices also performed well over the month as the Nasdaq and the S&P 500 experienced monthly gains of 4.5 percent and 3.2 percent, respectively, while the Dow Jones Industrial Average grew by 1.2 percent.