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AGEM March 2024 Recap

AGEM March 2024 Recap

  • Executive Director Daron Dorsey updated the membership that he and AGEM’s outside counsel, Dan Reaser, will continue participating in Nevada Gaming Control Board working group discussions for potential changes to Nevada processes for the regulation and oversight of gaming technology. The efforts of AGEM’s Compliance Committee members have been extremely helpful in discussing potential improvements to Nevada’s framework.
  • AGEM continues to monitor legislative activity surrounding gaming in a number of U.S. states. When there are opportunities for additional authorized gaming activities in such states, AGEM will advocate for and support the continued growth within regulated markets.
  • Clarion Gaming, organizers of the ICE show, recently shared a post-show update with AGEM members. The audited, published figures from Clarion confirmed the 2024 show exceeded the prior year’s event across all elements of the show and attendees were up 12 percent over 2023 to 45,050. All told, there were 632 exhibiting companies with 164 nations represented, the number of operators was up to 14,284, and the show’s operating channel breakdown was 47 percent online only, 11 percent land-based only and 42 percent both. Clarion also reported that post-show survey results for the 2025 event relocating to Barcelona look very positive, with 80 percent of visitors noting their likely return to the show in 2025 and 91 percent of exhibitors answering the same.
  • AGEM Director or Responsible Gaming Connie Jones highlighted a number of efforts and events to support Problem Gambling Awareness Month. AGEM’s Responsible Gaming Committee also recently took part in a presentation by the new executive director of the Nevada Council on Problem Gaming, Ted Hartwell, who recently took over leadership there replacing Carol O’Hare. Hartwell shared his background as a compulsive gambler and the journey to recovery, then on to his current role with the NCPG. He also outlined the council’s programs with emphasis on underage gambling and family. More information on the NCPG can be found at nevadacouncil.org.
Forthcoming Events
  • AGEM will be attending and participating in the Indian Gaming Tradeshow and Convention at the Anaheim Convention Center in Anaheim, California April 8-11. AGEM again will be presenting its contribution and donation to education and scholarship efforts to support tribal education.
  • The 25th Annual AGEM-AGA Golf Classic Presented by JCM Global will take place on May 8 at Shadow Creek Golf Club, Las Vegas. Cliff Buckley of JCM gave a short presentation at the March meeting about logistics for the event and to inform members that a few limited sponsorship and participation opportunities remain.
  • The schedule for remaining AGEM Monthly Meetings in 2024 will be May 14, June 11, July 9, August 13, September 10, November 12, and December 10. Each meeting will take place at 8 a.m. PST.
AGEM Index February 2024

AGEM Index April 2024

The AGEM Index increased by 93 points to 1,261.1 in February 2024, an 8 percent increase from the prior month. Compared to one year ago, the index was up 310.19 points, or 32.6 percent. During the latest month, eight of the 12 AGEM Index companies reported stock price increases, which resulted in eight positive contributions and four negative contributions to the AGEM Index. The largest positive contributor to the monthly index was Light & Wonder Inc. (NASDAQ: LNW), whose 25 percent increase in stock price led to a 52.52-point gain for the index. Meanwhile, Aristocrat Leisure Limited (ASX: ALL) saw its stock price increase by 5.1 percent, leading to a 17.69-point gain for the index. The largest negative contribution to the index was sourced to Agilysys (NASDAQ: AGYS), whose 7.1 percent decrease in stock price resulted in a 3.48-point loss to the AGEM Index. All three major U.S. stock indices increased in February 2024, which marked the fourth consecutive month of growth across the board. The NASDAQ rose by 6.1 percent over the month, while the S&P 500 grew by 5.1 percent. Additionally, the Dow Jones Industrial Average increased by 2.2 percent from the prior month.