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AGEM May 2017

Key Board of Directors Actions

AGEM May 2017

MAY 2017 KEY BOARD OF DIRECTORS ACTIONS

  • A new AGEM officer was voted in at the recent May meeting. IGT put forward Scott Gunn as an officer candidate, who was duly approved as AGEM’s vice president of government relations.
  • The Nevada Gaming Control Board finalized its proposed Regulation 5 and 5a language covering account wagering, among other topics. AGEM counsel Dan Reaser attended the May meeting of the GCB, where they were seeking approval for these new regulations. Separately, GCB Technology Division Chief Jim Barbee presented an update to selected AGEM members on the GCB’s new pre-approval inspection proposal, along with an update on its previously introduced New Innovation Beta program.
  • The recent flurry of activity in Florida, proposing for gaming regulations to be passed, subsequently saw House and Senate leaders fail to reach resolution, leaving any formal gaming expansion plans dead for the year.
  • AGEM’s membership of the Pennsylvania Video Gaming Association (PaVGA) was recently approved. A lengthy legislative hearing was held in Harrisburg on May 1 that included opposition to the idea of video gaming terminals from most of the state’s casinos. With a large number of gaming bills pending in Pennsylvania, it is unlikely any decisions will be made until at least June.
  • AGEM’s commissioned Economic Impact Study, carried out by Las Vegas firm Applied Analysis, was slated to be published in May. The study highlights the collective strength of the supplier sector that had a direct output (revenue) of $17.9 billion in 2106 and directly employs more than 55,000 people making an average annual wage of $89,400.
  • The recent 19th AGEM-AGA Golf Classic presented by JCM Global was yet again a successful fundraiser for the National Center for Responsible Gaming (NCRG), seeing 144 players take part. Over the past 18 years, the event has managed to raise an astonishing $2.7 million for this very worthwhile cause.
  • AGEM welcomed two new members in May. William Hill US, based in Las Vegas, was voted in as a Silver member; and electronic table games manufacturer Spintec, based in Slovenia, was voted in as a Bronze member. In addition, existing member Quixant was elevated to Silver level due to an increase in gross annual revenue.

AGEM INDEX

 

 

 

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.