- The Nevada Gaming Control Board’s ongoing initiative to modernize the regulation of gaming technology in Nevada continues. After AGEM’s framework and comments were presented at the September 27 NGCB workshop hearing, AGEM was asked by NGCB Chairman Kirk Hendrick to work with his staff and a small working group on policy statements to implement agreed-upon revisions to the existing Nevada processes. AGEM hopes to keep the discussions moving forward so that approval processes for gaming technology in Nevada will become more efficient and better aligned with other commercially minded jurisdictions.
- Alfredo Lazcano, a Mexico-based attorney and AGEM Associate Member, gave a general overview and update on the ongoing reform decree proceedings in Mexico. The reform decree was formally published in November, and impacts the existing regulatory framework surrounding gaming in the country despite significant opposition. Without legal relief or further action to change course, the reform decree may prevent openings on any new or approved but unopened licensed gaming establishments in Mexico and potentially impact suppliers’ operations in Mexico.
- Stuart Hunter, managing director of Clarion Events, gave an update to members regarding the ICE 2025 event in the new location of Barcelona. He shared that Clarion had been busy with the initial planning stages of the new show, holding two orientation events in November and December for Advisory Board Members which included presentations from Clarion, the venue and the city of Barcelona, as well as full operational tours of the space and introductions to FIRA suppliers. Hunter also noted that Clarion has taken the opportunity to re-evaluate the London plan to assist the attendee journey and make the show easier to navigate. There will also be several activations on-site at ICE 2024 to offer a hand-over from one city to the next, including an official closing ceremony.
- AGEM held the AGEM/McMonigle Cup Golf Tournament on December 5 at Bear’s Best Golf Course in Las Vegas. The two-person team event saw a full house of 40 players from 20 AGEM member companies participate, with the IGT team of Ken Bossingham and Dan Farnon winning the 2023 AGEM McMonigle Cup. Everyone had a great day and once again this event proved very popular with the members.
- The National Conference of Legislators from Gaming States (NCLGS) Winter 2024 Meeting is taking place January 3-6 at the Hilton Marina, Fort Lauderdale, Florida. AGEM is a longtime sponsor of this important event, which attracts dozens of state legislators as well as regulators, gaming operators and suppliers, attorneys, lobbyists, media, and other stakeholders to discuss all aspects of regulated gaming.
- AGEM is delighted to host an informal Happy Hour drinks and light bites event for members during ICE 2024 in London. Taking place on Sunday, February 4 from 4:30 to 6:30 p.m. at a stunning rooftop location, members should have received an invitation already. However, if you have not, please contact AGEM’s Director of Membership & Events at Allison.McCoy@AGEM.org for details.
The AGEM Index increased by 77.65 points to 1,089.00 in November 2023, a 7.7 percent increase from the prior month. Compared to one year ago, the index was up 183.05 points, or 20.2 percent. During the latest month, seven of the 12 AGEM Index companies reported stock price increases, which resulted in seven positive contributions and five negative contributions to the AGEM Index. The largest positive contribution to the monthly index was sourced to Aristocrat Leisure Limited (ASX: ALL), whose 5.4 percent increase in stock price led to a 39.01-point gain for the index. Meanwhile, Light & Wonder Inc. (Nasdaq: LNW) saw its stock price increase by 20.9 percent, leading to a 38.09-point gain for the index. The largest negative contribution to the index was sourced to Konami Corp. (TYO: 9766), whose 5.7 percent decrease in stock price resulted in a 5.26-point loss to the AGEM Index. All three major U.S. stock indices increased in November 2023. The NASDAQ rose by 10.7 percent over the month, while the S&P 500 grew by 8.9 percent. Meanwhile, the Dow Jones Industrial Average increased by 8.8 percent from the prior month.