AGEM February 2019

Board of Directors Actions

AGEM Board of Directors Actions – February 2019

  • In an unexpected move, Nevada Governor Steve Sisolak named Sandra Morgan as the chairwoman of the Nevada Gaming Control Board, replacing Becky Harris, who had been in the role for just a year. AGEM enjoyed a very good working relationship with Chairwoman Harris during her tenure, and it is hoped this relationship continues with the new chairwoman.
  • AGEM is in consultation with the Washington State Gambling Commission (WSGC) regarding changes to the current regulations that prohibit slot machine or table gaming companies to show games or new innovations that don’t have lab approval at the annual Washington Indian Gaming Association-organized trade show. AGEM submitted its position that trade shows and events provide the correct environment to showcase the latest games and technology. The WSGC is open to making changes and has released a first draft, which is currently being reviewed. AGEM will feed back any suggested changes by early March in time for the next commission meeting.
  • AGEM continues with its Nevada workforce development effort to lower the age of gaming supplier employment and internships from 21 to 18 to widen the opportunities of a growing talent pool. The Nevada legislature opened its session February 4, and will take up the bill in due course.
  • AGEM members approved a series of contributions to important industry events at the recent monthly board meeting. The Washington Indian Gaming Association’s Northwest Indian Gaming Conference and Expo will receive $10,000 for the Tuesday night celebration reception during the forthcoming 20th anniversary event being held June 17-19; The Southern Gaming Summit in Mississippi May 7-9 will receive sponsorship of $5,000; Japan Gaming Congress held in Tokyo May 10-11 receives £8,000 in sponsorship; and once again, AGEM will be the sole sponsor of the prestigious G2E Asia President’s Reception with a contribution of $25,000.
  • AGEM membership has risen to an all-time high of 172 as five new companies were voted in. Eclipse Gaming became Bronze members. Based in Duluth, Georgia, the company is a developer of top-performing games and innovative solutions. New Associate members include Acuris Risk Intelligence, based in London, an independent provider of data intelligence for anti-money laundering, anti-corruption and cyber security professionals; Fennemore Craig, a law firm with offices in Arizona, Nevada and Colorado; Global Gaming Guidance Group (G4), based in Amsterdam, which aims to minimize the impact of problem gambling by promoting a worldwide accreditation program for operators and suppliers; and NRT Technology, based in Toronto, a global technology leader in the design and development of next-generation enterprise payment systems.

 

AGEM INDEX

The AGEM Index increased in January 2019 by 61.07 points to 463.58 points, a 15.2 percent gain from December 2018. The AGEM Index’s January 2019 growth was due in large part to a 12.77 percent increase in the stock price of Aristocrat Leisure Limited (ASX: ALL), which grew from AU$21.84 to AU$24.63. This stock was responsible for 24.57 points of the AGEM Index’s January growth. Scientific Games Corporation (SGMS) experienced a 40.16 percent gain from $17.88 to $25.06, which in turn led to a contribution of 12.12 points. Overall, most AGEM Index companies reported strong results in stock price performance during the month, with 12 trending positively and two moving negatively. The monthly performance of the AGEM Index was reflected in the major stock indices, as the Dow Jones Industrial Average and the S&P 500 experienced increases of 7.2 percent and 7.9 percent, respectively, while the NASDAQ grew by 9.7 percent.