AGEM Board of Directors Actions for November 2021
- After many months, Executive Director Marcus Prater was pleased to announce to members an agreement has been signed for AGEM’s first worldwide headquarters office at the Black Fire Innovation complex in Las Vegas. The agreement sees AGEM taking residency from February 1, 2022, in time for new Executive Director Daron Dorsey to take up his position on March 1. The new office address is 8400 W Sunset Road, Suite 300, Office 12, Las Vegas, NV 89113.
- AGEM members received an in-person update recently from Stephanie Goodman, executive director of the Dr. Robert Hunter International Problem Gaming Center in Las Vegas. AGEM’s partnership with this important organization that provides counseling and treatment for problem gamblers goes back many years, and Goodman spent the first part of her presentation thanking AGEM for its financial support in helping the center stay open during the whole pandemic period. She explained that many people have suffered greatly during this time in isolation and by remaining open, the center has literally saved lives. New initiatives such as the Relapse Prevention Program have been initiated during this period, helping lots of people who have experienced additional stresses and struggled greatly due to the pandemic. Goodman took over the IPGC after the death of Hunter in 2019. She has steered the organization through a challenging period, and it continues to thrive under her leadership and is undoubtedly the No. 1 treatment facility of its kind in the world. AGEM looks forward to continuing its support and working closely with Goodman and her team.
- AGEM’s initiative to change regulations in Nevada to allow for cloud-based gaming technology has taken more positive steps forward with Chairman Brin Gibson and Chief of Technology Division Jim Barbee having reviewed draft paperwork without adding any additional comments. With the period of public comment pending, the next stage will see the official petition handed over to the Gaming Control Board for review and action. As a result, it seems likely approval may be granted at the beginning of the new year. With the GCB welcoming any new technology discussions, AGEM is hopeful these moves pertain well for other technology initiatives going forward.
- Although it is unlikely casinos will be seen in Japan for a number of years, AGEM is encouraged that the Japan Casino Regulatory Commission (JCRC) continues to hold regular meetings with potential stakeholders. An October 27 meeting in Tokyo regarding technical standards saw many AGEM supplier members participate. The agenda for the coming months covers additional key industry subjects. The November 25 meeting will look at technical standards for non-electronic gaming devices, and the December 22 meeting will discuss gaming manufacturer licenses. AGEM is grateful to Konami’s Ken Kamano, who continues to inform AGEM’s Compliance Committee of any updates, which are then shared with the wider membership.
- AGEM welcomed three new associate members in November. LOTREC Games based in France produces new copyrighted Class III banked card games designed to boost the casino table games industry. MicroTouch TES, based in Holland, Michigan, provides a product mix of components, monitors and touch computers, with greater efficiency and flexibility through regional engineering, local customer support and global warehousing. Passport Technology, headquartered in Glendale, California, provides award-winning payment solutions purposefully built for land-based casinos and online wagering. These recent additions bring the total membership to 170 companies across 22 countries worldwide.
- AGEM will once again have a booth at ICE London, February 1-3, 2022, and is looking forward to meeting up with existing members and friends at that time.
In October 2021, the AGEM Index improved by 31.17 points to a new high of 1,077.92, marking a 3 percent increase from the prior month. Compared to one year ago, the index has more than doubled from 495.31 for an annual growth rate of 117.6 percent. In the latest period, a majority of AGEM Index companies reported increases in stock price, with seven posting positive contributions, three recording negative contributions and one seeing no change from the prior period. The largest impact to the index was attributed to Aristocrat Leisure Limited (ASX: ALL). While its stock reported a 0.6 percent decline, Aristocrat added 15.06 points to the index due to an increase in outstanding shares that were used for equity raising to fund a new acquisition coupled with an improvement in exchange rate between the Australian dollar and the U.S. dollar. International Game Technology PLC (NYSE: IGT) was also a significant contributor to the monthly growth in the index, adding 13.82 points as the result of a 12 percent rise in stock price. The largest negative contributor to the index was Scientific Games Corporation (Nasdaq: SGMS), whose 3.6 percent drop in stock price led to a 5.32-point decrease in the AGEM Index. All three major U.S. stock indices increased over the month, with the NASDAQ and the S&P 500 growing by 7.5 percent and 6.9 percent, respectively. Meanwhile, Dow Jones Industrial Average experienced a 5.9 percent increase.