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AGEM January 2024 Recap

AGEM January 2024 Recap

  • The January 2024 AGEM monthly meeting, which also served as the 2024 Annual Meeting, kicked off with the election of AGEM officers for upcoming terms. The slate of officers, as recommended by the Board of Directors voting members, was approved for new terms. 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. President Bob Parente (Light & Wonder) was not up for election while in the middle of his current two-year term.
  • Following the ongoing Nevada Gaming Control Board initiative to modernize the regulation of gaming technology in Nevada, 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. The AGEM group, aided by its outside counsel Dan Reaser, has drafted seven different policy statements that were presented to the chairman and his group in early January. The presentation meeting was well received by the NCGB, and any responses or comments from staff will be vetted by AGEM and its compliance committee for further evaluation.
  • The Clarion team of Stuart Hunter and Andy Ventris provided an update on the progress of the upcoming ICE 2024 event being held February 6-8 in London. They shared that pre-show registration was currently tracking 7 percent ahead of 2023, which saw an all-time high of 40,000 attendees. The registration data also showed 32 percent are C-Level, with 87 percent involved in the decision-making process, and the sector split shows that approximately 50 percent of attendees are online only, around 40 percent are both online and land-based and 10 percent are land-based only. Over 640 brands, covering 1 million gross square feet, will be exhibiting at the show, and the VOX conference program will feature joint headline speakers Bill Hornbuckle, CEO & president of MGM Resort International and Simon Thomas, CEO of The Hippodrome London. The Clarion team stated that all signs indicate the last London ICE show is set to be an impressive event.
  • James Kilby of Vixio/Gambling Compliance presented a brief overview of Brazil’s new legislation, which saw its Congress approve a bill to authorize legal online sports betting and online gaming. The bill was signed into law on December 29, with next steps being a series of regulatory ordinances that will answer the scale and scope of opportunity. At present, no specifics have been discussed, as this will be determined by the Ministry of Finance, and although land-based gaming was omitted from the new legislation, these are significant changes for a market that has been a sleeping giant for a long time.
Forthcoming Events
  • AGEM will have a small stand at ICE 2024 located in the North Hall at N1-241. Executive Director Daron Dorsey, Director of Responsible Gaming Connie Jones and Director of Europe Tracy Cohen will all be on hand, along with various AGEM officers and member company representatives. All look forward to meeting AGEM members and friends in London.
AGEM index

The AGEM Index increased by 29.8 points to 1,118.82 in December 2023, a 2.7 percent increase from the prior month. Compared to one year ago, the index was up 279.72 points, or 33.3 percent. During the latest month, 10 of the 12 AGEM Index companies reported stock price increases, which resulted in 10 positive contributions and two negative contributions to the AGEM Index. The largest positive contribution to the monthly index was sourced to Aristocrat Leisure Limited (ASX: ALL), whose 0.6 percent increase in stock price led to a 16.09-point gain for the index. Meanwhile, Konami Corp. (TYO: 9766) saw its stock price increase by 0.9 percent, leading to a 10.31-point gain for the index. The largest negative contribution to the index was sourced to Light & Wonder Inc. (Nasdaq: LNW), whose 7.1 percent decrease in stock price resulted in a 12.71-point loss to the AGEM Index. All three major U.S. stock indices increased in December 2023. The NASDAQ rose by 5.5 percent over the month, while the Dow Jones Industrial Average grew by 4.8 percent. Meanwhile, the S&P 500 increased by 4.4 percent from the prior month.

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