• Geoff Freeman, President and CEO of the American Gaming Association (AGA), attended the July monthly board meeting to address members regarding the positive changes the AGA has been working on over the last three years. He also emphasized the desire for the AGA to work closer with AGEM to improve the flow of communication and to collaborate on common issues to achieve benefits for all. A list of key objectives will be drawn up in the coming months to start the process.
• Prompted in part by recent Nevada Gaming Policy Committee meetings, AGEM and the Nevada Gaming Control Board (GCB) are working together to review existing regulatory language and identify specific changes and updates. AGEM submitted comments to the GCB in late June, and GCB Chairman A.G. Burnett and his staff will attend the August AGEM meeting and a subsequent working session.
• AGEM Director of Responsible Gaming Connie Jones recently attended Global Gaming Women – The Power of Technology luncheon held in Las Vegas on June 16. The event was very well-attended and featured an impressive line up of speakers and sponsors.
• The AGEM membership reached an all-time high of 154 when Automated Cashless Systems based in Reno was voted in as an associate member at the July meeting.
UPCOMING EVENTS
• July 15 saw the deadline for the inaugural Memorial Award nominations to be submitted, honoring Jens Halle and Peter Mead. The selection process is now under way, and the winners will be announced at G2E.
• A full-day public meeting is being held in Florida on July 26 regarding regulatory changes and future product introductions. AGEM will be represented there, in part to answer questions and make suggestions regarding the possibility of skill-based gaming in Florida.
AGEM Index
The AGEM Index posted a modest increase in June after gaining 28.83 points in May. The composite index stood at 260.01 at the close of the month, which represents an increase of 4.67 points, or 1.83 percent, when compared to May. The AGEM Index reported a year-over- year increase for the eighth consecutive month, rising 67.7 points, or 35.2 percent, when compared to June 2015. During the latest period, 11 of the 14 global gaming equipment manufacturers reported month-to-month drops in stock price, with five down by more than 10 percent. Of the three manufacturers reporting increases in stock price during the month, one was up by more than 10 percent. The broader stock markets reported mixed results in June largely due the recent British exit from the European Union, which has rattled international and domestic markets. The S&P 500 reported a month-to-month increase of 0.1 percent, rising to 2,098.96. Additionally, the Dow Jones Industrial Average increased 0.8 percent to 17,929.99. NASDAQ decreased 2.2 percent during the period, falling to 4,827.67.
