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AGEM July 2023 Monthly Meeting Recap

July 2023

AGEM July 2023 Monthly Meeting Recap

  • AGEM held its July 2023 monthly gathering via Zoom on July 18. As part of the agenda, Executive Director Daron Dorsey reminded those in attendance about the Transfer Pricing and Customs Alignment Seminar sponsored and supported by Associate Member KPMG and AGEM in the Black Fire Innovation showroom on July 20. This event focused on an important topic for the supplier sector and was open to all AGEM members.
  • Dorsey reminded attendees about the ongoing nomination process for the AGEM Memorial Awards, which will be announced and presented during G2E Las Vegas in October. Nominations are appreciated and submissions can be made directly to Dorsey. In addition, Dorsey noted AGEM’s support for the Emerging Leaders of Gaming 40 Under 40 program at G2E. Nominations for that program were due on or before August 1. Those interested should contact Allison McCoy for more information.
  • AGEM continues its discussions with key authorities and stakeholders surrounding industry efforts to improve the processes through which gaming technology is regulated. Two meetings with the chair of the Nevada Gaming Control Board (NGCG) were being tentatively scheduled for late July. In advance of those meetings, AGEM and its Compliance Committee working groups conducted an analysis requested by Chair Hendrick and created a detailed assessment of Nevada gaming regulations that could be revised or otherwise eliminated which, if acted upon, could lead to significant improvements on the timelines for approvals of many gaming technologies in Nevada. AGEM looks forward to its discussions with NGCB representatives.
  • AGEM’s FY24 membership renewal process remains ongoing. For any member companies that need to follow up regarding membership, they are encouraged to contact Daron Dorsey or Allison McCoy with questions, requests or updates.
  • AGEM sponsored and attended the National Conference of Legislators from Gaming States (NCLGS) Summer Meeting in Denver, Colorado July 13-15. NCLGS is the only gaming conference in the United States that focuses on legislative decision-makers. The NCLGS semiannual meeting included over 40 gaming industry leader speakers and dozens of legislators, regulators, operators, suppliers, attorneys, lobbyists and media.

 

Forthcoming Events

  • AGEM has once again agreed to be a joint sponsor of the European Casino Association (ECA) Executive Development Program (EDP) Diversity Scholarship. This scholarship, now in its sixth year, sees the ECA partnering with AGEM, Clarion Gaming and the EDP to award two aspiring gaming employees a full scholarship to EDP, the prestigious global gaming leadership event that will take place November 4–12 in Lake Tahoe, Nevada.
  • AGEM’s August 2023 monthly gathering will take place via Zoom on August 15 at 8 a.m. PST.

 

AGEM INDEX

The AGEM Index increased by 93.79 points in June 2023 to 1,050.77, a 9.8 percent increase from the prior month. Compared to one year ago, the index was up 239.38 points, or 29.5 percent. During the latest month, 10 of the 12 AGEM Index companies reported stock price increases, which resulted in nine positive contributions and three negative contributions to the AGEM Index. The largest positive contribution to the monthly index was sourced to International Game Technology PLC (NYSE: IGT), whose 30 percent increase in stock price led to a 41.88-point gain to the index. Meanwhile, Aristocrat Leisure Limited (ASX: ALL) saw its stock price increase by 4.2 percent, leading to a 25.3-point gain for the index. The largest negative contribution to the index was sourced to Agilysys (Nasdaq: AGYS), whose 7.7 percent decrease in stock price resulted in a 2.92-point loss for the AGEM Index. The three major U.S. stock indices all experienced growth in June 2023. The NASDAQ increased by 6.6 percent over the month, while the S&P 500 grew by 6.5 percent. Meanwhile, the Dow Jones Industrial Average increased by 4.5 percent from the prior month.

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