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AGEM December 2022 Meeting Recap

AGEM December 2022 Meeting Recap

AGEM December 2022 Meeting Recap

• The December monthly meeting was held on December 13 and had a full agenda with AGEM hosting two in-person presentations/discussions. The first consisted of Nevada Gaming Control Board (GCB) representatives, including Chair Brittnie Watkins, Technology Division Chief Jim Barbee and Technology Division Deputy Chief Jeremy Eberwein with board member Philip Katsaros calling in. Barbee gave an overview of recent activity that affected AGEM members, namely updates to gaming device technical standards which are currently going through internal review processes at the board. The group also reiterated that the GCB wishes to communicate more closely with AGEM and AGEM members in the supplier sector to understand the “next big thing” and innovation being brought into the gaming market. The discussion was lively and engaged, with AGEM and GCB representatives noting a desire to gather in person more frequently to discuss a whole range of topics that will benefit the industry and its ongoing working relationships.

• Also presenting at the December meeting was Executive Director Stephanie Goodman of the Dr. Robert Hunter Problem Gambling Center (PGC). She started off by thanking AGEM for its continued support which helps the center to carry on its much-needed work, noting that AGEM’s support this year helped recruit and retain staff for the center, which struggles to compete with the private sector. She also spoke about some of the more recent initiatives that have allowed outpatient treatment since the pandemic. These programs have been highly effective for patients that attend at least twice a week and once through the program; they have a relapse prevention success rate of 92 percent. Goodman also noted that the center is currently working on a video which can be provided to industry operators and suppliers to show in their venues so important messages about where to find help can reach a wider audience.

• AGEM Executive Director Daron Dorsey along with AGEM Director of Responsible Gaming Connie Jones recently attended and sat on panels at the National Conference of Legislators from Gaming States (NCLGS) Winter Meeting held at Resorts World Las Vegas. AGEM was one of the sponsors of this important event, in which portions of the agenda focused on the ongoing problem of illegal and unregulated gaming within the United States and the derogatory impacts these games continue to inflict on both the public and industry stakeholders. The event also highlighted responsible gaming initiatives and gathered input from multiple, knowledgeable stakeholders across a range of disciplines related to responsible and problem gaming sessions. NCLGS reports its draft resolution on responsible gaming is close to completion, as well, and the event provided a final opportunity to incorporate feedback from those in attendance on a blueprint that can assist legislators across the U.S. to consider and adopt best practices in this important discipline. A final vote on the resolution will come before the NCLGS membership in summer 2023.

• The AGEM McMonigle Cup Golf Tournament took place at Bear’s Best Las Vegas on December 6. The event was a great success attended by 20 two-person AGEM member teams. Congratulations go to the winners of this year’s event, Rick Lopez and Matt Carrier, representing Associate member company eConnect Inc.

Forthcoming Events
  • AGEM will once again have a booth at the ICE London show being held from February 7-9, 2023. Daron Dorsey, Connie Jones and Tracy Cohen will all be in attendance as well as some of the AGEM officers.

AGEM INDEX

The AGEM Index increased by 59.31 points in November 2022 to 905.95, a 7 percent improvement from the prior month. Compared to one year ago, the index was down 54.24 points, or 5.6 percent. During the latest month, eight of the 12 AGEM Index companies reported stock price increases, resulting in 10 positive contributions to the AGEM Index and two negative contributions. The largest positive contribution to the monthly index was sourced to International Game Technology PLC (NYSE: IGT), whose 22.4 percent increase in stock price led to a 21.62-point gain to the index. Meanwhile, Light & Wonder Inc. (Nasdaq: LNW) observed a 15.4 percent increase in stock price and an 18.32-point increase to the index. The largest negative contribution to the index was sourced to Everi Holdings Inc. (NYSE: EVRI), whose 11.9 percent decrease in stock price resulted in a 3.5-point loss for the AGEM Index. All three major U.S. stock indices saw month-over-month increases in November 2022, marking the second consecutive month of across-the-board increases. The Dow Jones Industrial Average increased by 5.7 percent from October, while the S&P 500 grew by 5.4 percent. Meanwhile, the NASDAQ rose 4.4 percent over the month.

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