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AGEM Board of Directors Actions

February 2022

AGEM Board of Directors Actions

AGEM Board of Directors Actions for February 2022

  • For the final time in his current role, Executive Director Marcus Prater presided over the February AGEM monthly board meeting, with Daron Dorsey taking over on March 1, although Prater will be available to assist Dorsey for a six-month transition period. President David Lucchese led the praise by thanking Prater for his strong and steady leadership over a period of 14 years and 168 consecutive monthly membership meetings that saw the organization grow in size and stature to become a strong and relevant voice in the industry, allowing suppliers to have a “seat at the table” alongside operators and regulators. AGEM has accomplished a significant amount under his stewardship, and he has set the foundations for the organization to grow and prosper as the industry evolves further into online and sports betting sectors.
  • Following the formal presentation of AGEM’s petition on allowing gaming technology to take place in the cloud to the Nevada Gaming Commission and the subsequent edits to the petition requested by Jim Barbee, chief of the Gaming Control Board’s Technology Division, more positive developments have evolved. AGEM has been joined by operators through the Nevada Resort Association and Caesars Entertainment supporting these efforts, who have submitted letters to the commission in a bid to push the process along. These combined endeavors show good cooperation from the industry and will hopefully see a draft bill presented in the next month or so.
  • Following the January meeting where AGEM members talked in detail about concerns with the new ICE show dates in April, a number of large exhibitors subsequently pulled out of the event. Although AGEM strongly supported members and was working behind the scenes, it was left to individual companies to make their own decisions. AGEM was supportive of Clarion postponing the show in December, saying at the time it hoped new dates could be found that worked well for the industry. It was, however, wrongly reported in the press that AGEM supports the new dates in April.
  • AGEM welcomed iPost as a new Associate member at the February meeting. Based in San Mateo, California, iPost is an enterprise email marketing and automation provider for gaming/casinos, franchises, agencies, associations, restaurants, entertainment, publishing, and retail. This takes the total number of members worldwide to 172.

Forthcoming Events

  • The fourth annual EKG Slot Awards Show held on February 24 at the Cosmopolitan of Las Vegas saw two outstanding industry veterans, Michael Laubach and Robert “Bob” Luciano, inducted into the Hall of Fame. Bob Luciano is the fourth inductee to this award under the Game Development category while the late Michael Laubach is the second inductee under the Slot Operations category.
  • The Southern Gaming Summit will take place May 3-6 in Biloxi, Mississippi, and will now consist of a conference only and not include an exhibition. AGEM members approved a sponsorship request of $4,000 to support the Responsible Gaming Session.

In January 2022, the AGEM Index declined by 45.71 points to 925.87, marking a 4.7 percent decrease from December 2021. Compared to one year ago, the index increased by 229.8 points for an annual growth rate of 33 percent. In the latest period, nine of the AGEM Index companies reported stock price decreases amid a broad market decline. As a result, three companies posted positive contributions to the index, while the other nine posted negative contributions. The top contributor to the monthly index was Konami Corporation (TYO: 9766), whose 11.1 percent increase in stock price led to a 16.69-point gain for the index. The largest negative contributor to the index was Aristocrat Leisure Limited (ASX: ALL), whose 7.4 percent drop in overall stock price resulted in a 35.24-point decrease in the AGEM Index. A double-digit drop in the stock price for Scientific Games Corporation (Nasdaq: SGMS) was also a driving factor in the monthly drop in the index. The company reported a 13.7 percent decline in stock price, which led to a 15.63-point decline to the index. All three major U.S. stock indices decreased over the latest period. The Dow Jones Industrial Average declined 3.3 percent, while the S&P 500 fell by 5.3 percent. Meanwhile, the NASDAQ experienced a 9.1 percent fall.