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AGEM Board of Directors Actions

January 2022

AGEM Board of Directors Actions

  • The first AGEM monthly board meeting of the new year kicked off with the election of AGEM officers, after a slate was presented to members at the December meeting. President David Lucchese embarks on his second year of a two-year term and therefore was not part of the vote. The following officers were approved to serve for a one-year term: Vice President Luke Orchard, IGT; Vice President Bob Parente, Scientific Games; Vice President Elaine Hodgson, Incredible Technologies; Vice President Ryan Comstock, Ainsworth; Secretary Tom Jingoli, Konami; Treasurer Hector Fernandez, Aristocrat. Lucchese also made a special mention and paid thanks to longstanding officer Eric Fisher, Crane Payment Innovations (CPI), who stepped down from his officer position.
  • In December, AGEM Executive Director Marcus Prater and the organization’s regulatory general counsel Dan Reaser presented a petition to the Nevada Gaming Commission to allow for gaming technology in the cloud. After the meeting, Gaming Control Board Chair Brin Gibson and Technology Division Chief Jim Barbee requested a review of specific wording in the petition before it is rolled out for public comment. Once complete, the petition will be published and commence a public comment period. As there were no red flags raised, it is hoped the whole process will be completed and approved in the next couple of months.
  • AGEM’s Mexico Committee has seen some changes recently. Carlos Carrión of Aristocrat has been heading up the committee but recently moved back to Las Vegas, and the organization feels it is important to have a representative on the ground based in Mexico. As a result, AGEM is pleased to announce that Eduardo Alvarez of AGS has agreed to head up the seven-member committee. AGEM would also like to take this opportunity to thank Carlos Carrión for all his good work in the region over the years.
  • AGEM Director of Responsible Gaming Connie Jones has worked very closely with the Nevada Council on Problem Gaming for many years, and was recently elected as secretary treasurer at the council’s annual meeting. The meeting agenda also included election of officers, and saw Jennifer Shatley re-elected as president and Tony Cabot re-elected as vice president. The meeting covered responsible gaming initiatives, community awareness/education and budgeting. AGEM is a major supporter of this very important organization and will continue to promote and provide support which is especially needed as we transition out of the pandemic.
  • AGEM welcomed a new Associate member at the January meeting, taking the total number of members worldwide to 172. Lewis Roca is a full-service law firm based in Las Vegas. The company provides a wide range of services for a sizeable list of gaming clients and is one of the largest law firms in Nevada, plus locations in nine other Western U.S. states.

Forthcoming Events

  • The National Indian Gaming Association’s (NIGA) Indian Gaming Tradeshow & Convention will take place April 19-22 in Anaheim, California. Historically, AGEM has supported this event as a Platinum Sponsor. Members approved a sponsorship request of $25,000 to continue to support the forthcoming show.

AGEM INDEX

In December 2021, the AGEM Index improved by 11.39 points to 971.59, marking a 1.2 percent increase from the prior month. Compared to one year ago, the index increased by 284.47 points for an annual growth rate of 41.4 percent. In the latest period, seven of the AGEM Index companies reported stock price increases. This ultimately led to eight companies posting positive contributions and four companies recording negative contributions to the overall index. The top contributor to the monthly index was International Game Technology PLC (NYSE: IGT), whose 7 percent increase in stock price led to a 7.98-point gain for the index. Scientific Games Corporation (Nasdaq: SGMS) was also a significant contributor to the overall growth in the index, adding 5.65 points as a result of its 4.6 percent rise in stock price. The largest negative contributor to the index was Konami Corporation (TYO: 9766), whose 5 percent drop in stock price led to an 8.48-point decrease in the AGEM Index. All three major U.S. stock indices increased over the month, with the Dow Jones Industrial Average and the S&P 500 experiencing increases of 5.4 percent and 4.4 percent, respectively. Meanwhile, the NASDAQ experienced a 0.8 percent increase.

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