JUNE 2017 KEY BOARD OF DIRECTORS ACTIONS
- Regulations 5 and 5A have finally been adopted by the Nevada Gaming Control Board and Commission. AGEM has been working with the board on updating the regulations in a process which has lasted almost two years. This has been a great example of the positive working relationship the NGCB has with suppliers, and their readiness for open dialogue.
- In more NGCB news, Nevada Assembly 75 has recently been approved. This regulation was initiated last November by the Gaming Control Board, which sought AGEM’s input, to take out a layer of regulation the manufactures had to deal with when partnering with non-licensed third parties. Now, each individual licensed partner assumes responsibility for who they do business with and for the content in products, which speeds up the approval process. There is scope to advance this legislation into other markets by introducing it to other regulatory bodies.
- AGEM approved a contribution of $30,000 for the forthcoming G2E Chairman’s Reception. This prestigious event is held in conjunction with the AGA’s Gaming Hall of Fame, which sees the winners honored at the reception.
- The recent Japan Gaming Congress, held by Clarion prior to G2E Asia, was very successful and well-attended by politicians, media, operators and regulators. AGEM board members that attended were able to initiate relationships with key individuals who will be involved in the process as the gaming bill moves forward.
- AGEM President Tom Nieman and Executive Director Marcus Prater recently attended the YES Program event (Young Executive Scholars) at the University of Nevada, Las Vegas. This worthwhile initiative is supported by AGEM and aimed at junior high and high school students to give them an introduction to the hospitality and gaming industry. Also at the event were students from the Gaming Innovation Group. The group is focused on producing new innovations that cover all aspects of gaming, and is currently preparing products to display at G2E in October.
- AGEM welcomed two new Associate members in June—Southco, based in Pennsylvania, which specializes in engineered access hardware; and Skilled Game Development, a software development specialist. This brings the total number of members to 151.
- Nominations for the Jens Halle and Peter Mead Memorial Awards are open. Nominees should have a minimum of 10 years working in the industry and possess the qualities that both men displayed. All nominations must be received by July 15, and the winners will be announced during G2E Las Vegas in October. Please visit AGEM.org for more information.
The AGEM Index reached another record high in April, continuing the momentum from previous months. The composite index stood at 371.5 points at the close of April 2017, which represents an increase of 10.22 points, or 2.8 percent, when compared to March 2017. The AGEM Index reported a year-over-year increase for the 19th consecutive month, rising 144.99 points, or 64 percent, when compared to April 2016. During the latest period, nine of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with two up by more than 10 percent. Three manufacturers reported decreases in stock price during the month and one manufacturer posted a flat performance. The broader stock markets produced mixed results in March. The S&P 500 reported a slight month-to-month increase, rising 0.09 percent to 2,384.20. Additionally, the Dow Jones Industrial Average increased 1.3 percent to 20,940.51, while the NASDAQ increased 2.3 percent during the period to 6,047.61.