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AGEM Board of Directors Actions

January 2020

AGEM Board of Directors Actions

AGEM Board of Directors Actions – January 2020

  • The 2020 election of AGEM officers took place at the January meeting. Luke Orchard, IGT, is president, and was not included in the election, as he holds the position for a two-year term. The following officers were approved for one-year terms: Vice President David Lucchese, Everi; Vice President Bob Parente, Scientific Games; Vice President Tom Jingoli, Konami; Secretary Eric Fisher, Crane Payment Innovations; Treasurer Hector Fernandez, Aristocrat; and General Counsel Daron Dorsey, Ainsworth.
  • Kate Chambers, managing director-gaming, Clarion Events, and Greg Saint, event director, ICE, gave a presentation at the AGEM January meeting to update members on progress with the forthcoming event. This year’s show will have 629 exhibitors, up from 576 last year, taking up a total space of 47,680 square meters (513,223 square feet). Visitor pre-registration was 17,502 at the beginning of January, an increase of 40.5 percent from the same time last year. The conference event, ICE VOX, has also seen investment, with an expanded program and quality keynote speakers and thought leaders.
  • AGEM members approved a slate of annual sponsorship requests at the January meeting that included $5,000 for supporting the National Council of Legislators from Gaming States (NCLGS) winter and summer events; $5,000 to support the Western Indian Gaming Conference (CNIGA), held at Sycuan Casino Resort, San Diego February 10-13; and a first-time request of $5,000 to support the Responsible Gaming Council (RGC) Discovery 2020 Conference, to be held in Toronto, April 14-16.
  • In Mexico, the secretary of the economy recently announced a proposal for a new “NOM,” or federal rule, that might require an additional layer of certifications for machines coming into the country. The AGEM Mexico Committee is working together with both operator trade associations, AIEJA and APPJSAC, to put forward a proposal to argue against introducing the NOM. All three associations have agreed to contribute funds to support a combined legal effort.
  • AGEM Director of Responsible Gaming Connie Jones recently attended the NCLGS Winter Meeting in San Diego, joined by more than 40 legislators from 20 states and 200-plus attendees at the three-day event. The varied program included legislative-chaired committee sessions, general-session master classes focused on sports betting and tribal-state compacting, and a general session panel discussion. Keynote speakers included Bill Miller of the American Gaming Association and Robert Zahradnik of the Pew Charitable Trusts. AGEM was a sponsor of this event, which was one of the best attended so far.
  • As part of AGEM’s support of educational initiatives, the American Indian College Fund receives an annual scholarship of $10,000. This year, four worthy college students received $2,500 each to undertake their studies. They include Tevin Phillips, a gaming major, of the Muscogee (Creek) Nation; Derrick Wandrie, a hospitality and casino management major, of the Muscogee (Creek) Nation; Anna One Star, a business management major, of the Rosebud Sioux Tribe; and Shane Schmitz, a business management major, of the Rosebud Sioux Tribe.
  • ICE 2020 takes place February 4-6 in London. AGEM will have a stand located at N1-138 in the North Halls. We look forward to welcoming friends and members, as well as meeting any companies interested in becoming new members.
  • AGEM will once again sponsor the International Casino Conference (ICC) to be held during ICE on Monday, February 3. This forms part of AGEM’s annual $15,000 support of the European Casino Association, which sees the contribution split between the ICC and European Dealer Championship taking place at Sun Casino Monte Carlo, Monaco, April 27-29.

 

AGEM INDEX

The AGEM Index increased by 5.39 points in December 2019 to 546.04 points, a 1 percent gain from November 2019. The growth was driven largely by Aristocrat Leisure Ltd. (ASX: ALL), which accounted for 7.3 points of the AGEM Index’s monthly gain. A stronger Australian dollar accounted for Aristocrat’s index gain, as the company’s stock price declined slightly. Crane Co. (CR) experienced a 4 percent stock price gain from $83.07 to $86.38, which led to an index contribution of 3.28 points. Overall, most AGEM Index companies reported decreases in stock price during the month, with five trending positively and eight moving negatively. The major stock indices performed well, as the Dow Jones Industrial Average and the S&P 500 experienced monthly growth of 1.7 percent and 2.9 percent, respectively. The NASDAQ also experienced a strong gain of 3.5 percent.

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