AGEM Board of Directors Actions for September 2020
- AGEM members were provided with information regarding the Nevada Department of Employment, Training and Rehabilitation (DETR) Fraud Update at the recent September meeting. It has been highlighted that more than 200,000 fraudulent unemployment claims have been made to DETR since the pandemic started, targeting many executive and senior management positions to take advantage of higher payouts. The problem has been made worse by a massive backlog. The department was overwhelmed by the large number of claims, as Nevada went from roughly 4 percent unemployment in February to more than 30 percent just months later, with gaming operators and suppliers hit particularly hard. Members were urged to monitor their own businesses and employees and respond quickly at ft.nvdetr.org/form/Fraud to highlight fraudulent claims and protect those wrongly caught up in the scam.
- Former chairwoman of the Nevada Gaming Control Board, Becky Harris, who is now a Distinguished Fellow at the International Gaming Institute (IGI) at the University of Nevada, Las Vegas, reached out to AGEM to encourage members to take part in a new initiative. IGI is conducting research through its Expanding the Leaderverse initiative in the form of an online survey, to establish whether or not gender’s influence and leadership roles in the gaming industry have changed as a result of Covid-19. The Leaderverse initiative promotes diversity and inclusion in the hospitality, gaming and tourism industries at the K-12, university and industry levels. To take part, people must be at least 21 years of age and currently employed in the gaming industry or have been employed in the industry within the past 12 months. To participate or ask any questions about the study, contact [email protected].
- The National Native American Veterans Memorial, Washington, D.C., is the latest recipient of the AGEM/GLI Lasting Impact Philanthropic Initiative, receiving a contribution of $20,000 for the year. Created by AGEM and GLI, the initiative is a multi-year effort designed to identify worthy causes that will utilize direct contributions to flourish over the long term and provide a variety of assistance to multiple beneficiaries. The unique giving program will benefit many different audiences and be true to the idea of making a “lasting impact” inside the gaming industry and beyond. This latest award will be dedicated in November at a date to be announced.
- The decision has been taken to cancel the AGEM Cup Golf Tournament and Holiday Reception 2020. This yearly golf event was due to take place at Southern Highlands in Las Vegas during Thanksgiving week in November. Due to the pandemic and restrictions on large gatherings, it was thought unfair to limit the number of members who might want to attend. The event will relaunch in 2021.
- Marker Trax, based in Las Vegas, is the latest company to be welcomed as an Associate Member to AGEM. Marker Trax is a patented casino advance line system that takes the risk out of issuing advance lines to patrons. This brings the total number of AGEM members globally to 184 companies, an all-time high.
Forthcoming Events
- The G2E Virtual Experience hosted by the AGA and Reed Exhibitions will take place on Wednesday, October 14, and Tuesday and Wednesday, October 27-28. This new event, being held in place of the physical show, will include a kick-off session on October 14 with a general educational session, followed by a preview of the virtual platform event taking place later in the month.
AGEM INDEX
The AGEM Index increased by 61.16 points in August 2020 to 482.02 points, a 14.5 percent gain from July 2020. Ten of the 13 AGEM Index companies reported stock price increases as global markets continued to trend positively amid the Covid-19 pandemic. The stock price for Aristocrat Leisure Ltd. (ASX: ALL) increased by 8.4 percent, accounting for a 23.89-point improvement in the AGEM Index, while Konami Corp. (TYO.9766) experienced a 27.1 percent stock price jump that led to an index contribution of 21.26 points. All three major U.S. stock indices increased as the Dow Jones Industrial Average grew by 7.8 percent and the S&P 500 grew by 7.4 percent. Meanwhile, the NASDAQ grew by 10.8 percent compared to July 2020.
