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AGEM January 2023 Meeting Recap

AGEM January 2023 Meeting Recap

AGEM January 2023 Meeting Recap
  • The January 2023 AGEM monthly meeting, which also served as the association’s 2023 Annual Meeting, kicked off with the election of AGEM officers for upcoming terms. The slate of officers, as recommended by the Board of Director’s voting members, was approved for new terms. Bob Parente (Light & Wonder) was elected president and will serve a two-year term, while the following officers were approved to serve one-year terms: Ryan Comstock (Ainsworth), treasurer; Tom Jingoli (Konami), secretary; Dave Lucchese (Everi), vice president; Elaine Hodgson (Incredible Technologies), vice president; Luke Orchard (IGT), vice president; and Tom O’Brien (Aristocrat), vice president. Outgoing president Dave Lucchese thanked his colleagues, noting how proud he was to lead AGEM for the past two years, and also recognized Hector Fernandez (Aristocrat) for his service as AGEM treasurer during his tenure.
  • With ICE fast approaching, Clarion representatives Stuart Hunter and Alex Pratt presented an update to AGEM members about the show, including some registration and exhibitor statistics. Although a few weeks out from the show, and with registration activity expected to increase by two thirds, the current pace of registrations is indicating an actual attendance back to pre-pandemic levels for an international show with global attendees. New highlights for 2023 include My ICE Gateway, a new and improved lead generation tool; a Hosted Buyer Program; and the full opening of the Queen Elizabeth train service, providing new, fast accessibility to ExCeL directly from central London and also Heathrow Airport.
  • Brian Sullivan of the Indian Gaming Association provided a brief update about the 2023 Indian Gaming Tradeshow and Convention, which is being held March 27-30 at the San Diego Convention Center in California. This location is the most popular choice for the event, and will be the site for future shows. Sullivan shared that this year’s event is growing with even more exhibitors and will also include a newly formatted golf event, being organized by former AGEM President Tom Neiman.
Forthcoming Events
  • AGEM will have a booth at the ICE London expo, located in ExCeL’s North Halls at N1-241. Daron Dorsey and Tracy Cohen look forward to welcoming new and existing members to the show. Please feel welcome to come and say hello.
  • AGEM will host a legislative reception on March 7 in Carson City, Nevada. The reception will be open to all legislators and elected officials in Carson City for the session, along with industry friends and colleagues. Final details will be communicated in February, and AGEM members are invited to attend the event.

The AGEM Index decreased by 66.85 points in December 2022 to 839.1, a 7.4 percent decline from the prior month. Compared to one year ago, the index was down 132.49 points, or 13.6 percent. During the latest month, 10 of the 12 AGEM Index companies reported stock price decreases, resulting in 10 negative contributions to the index and two positive contributions. The largest positive contribution to the monthly index was sourced to Agilysys (Nasdaq: AGYS), whose 19.2 percent increase in stock price led to an 8.69-point gain to the index. The largest negative contribution to the index was sourced to Aristocrat Leisure Limited (ASX: ALL), whose 12.9 percent decrease in stock price resulted in a 39.68-point loss for the AGEM Index. Additionally, Light & Wonder Inc. (Nasdaq: LNW) observed a 9.5 percent decrease in stock price that led to an 11.95-point decrease to the index. All three major U.S. stock indices saw month-over-month decreases to close the year. The NASDAQ decreased by 8.7 percent from November, while the S&P 500 fell by 5.9 percent. Meanwhile, the Dow Jones Industrial Average declined 4.2 percent over the month.

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