AGEM June 2023 Meeting Recap
- AGEM welcomes Allison McCoy, who joins as director of events and membership. McCoy is a longtime friend to our industry and currently also works with the National Conference of Legislators from Gaming States (NCLGS) and its conferences, as well as the Emerging Leaders of Gaming 40 Under 40 program at G2E. AGEM looks forward to her efforts and assistance on events and membership activities.
- AGEM continues its discussions with key authorities and stakeholders surrounding industry efforts to improve the processes through which gaming technology is regulated. In addition to meetings with Nevada Gaming Control Board and Pennsylvania Gaming Control Board leadership in May, AGEM hopes to schedule additional discussions and working groups in July. AGEM and its Compliance Committee working groups will continue leading these efforts, so the continued participation and engagement from all those interested is appreciated.
- The 18th International Conference on Gambling & Risk Taking took place at the end of May at Park MGM, Las Vegas. AGEM was a sponsor, and Director of Responsible Gambling Connie Jones attended and also participated in a panel titled “Career Pathways” in which she outlined the employment opportunities in the supplier sector of the industry and encouraged women to pursue STEM learning. This prestigious conference only takes place every three years and draws experts from around the world to present the most recent research and advancements in RG/PG and beyond.
- AGEM hosted a networking gathering for members on June 27 at Sierra Gold Tavern in Las Vegas. This was the first in-person event of this kind, which will take place a few times a year instead of the usual monthly meetings. The new format has been set up to provide more social/networking gatherings each year, which will hopefully provide those interested in additional opportunities to engage with colleagues.
- The European Dealer Championship run by the European Casino Association held the finals of the competition at Grand Casino Brussels VIAGE, Belgium June 12-15. At the time of writing the finals were in process and the winners had not yet been announced.
- The National Council on Problem Gambling hosts its 2023 Annual Conference in Washington, D.C. July 27-28. AGEM is a longtime sponsor of the NCPG and its annual conference, and once again sponsors the event. Now in its 37th year, the conference is the oldest and largest annual national conference that brings together people from all facets of healthcare, research, government and the many segments of the gambling industry, and provides both detailed in-depth knowledge and cross-training opportunities.
- 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.
The AGEM Index decreased by 14.54 points in May 2023 to 956.98, a 1.5 percent decrease from the prior month. Compared to one year ago, the index was up 73.87 points, or 8.4 percent. During the latest month, six of the 12 AGEM Index companies reported stock price increases, which resulted in six positive contributions to the AGEM Index, five negative contributions and one neutral contribution. The largest positive contribution to the monthly index was sourced to Konami Corp. (TYO: 9766), whose 10.5 percent increase in stock price led to a 14.08-point gain to the index. Crane NXT, Co. (NYSE: CXT) saw its stock price increase by 11.1 percent, leading to an 8.02-point gain for the index. The largest negative contribution to the index was sourced to International Game Technology PLC (NYSE: IGT), whose 12.8 percent decrease in stock price resulted in a 15.2-point loss for the AGEM Index. The three major U.S. stock indices saw mixed change in May. The NASDAQ increased by 5.8 percent over the month, while the S&P 500 grew by 0.2 percent. Meanwhile, the Dow Jones Industrial Average decreased by 3.5 percent from the prior month. Note: In April 2023, Crane NXT, Co. separated from Crane Company. The listed stock price prior to that date is a pro forma calculated estimate.