Key Board of Directors Actions

  • AGEM continues to have dialogue with the Nevada Gaming Control Board and the attorney general’s office on account wagering and other issues contained within proposed Regulations 5 and 5A. Separately, on April 5, a notice was posted by GCB Chairman A.G. Burnett outlining new proposals ultimately designed to help speed up the approval process of new products or changes to products. AGEM members will have a chance to weigh in when a meeting with GCB Technology Chief Jim Barbee is finalized.
  • AGEM approved support of two important educational initiatives recently. The UNLV Center For Gaming Innovation received $10,000 in funding that will go towards new equipment to aid students’ development of gaming innovations. For the third year in a row, a contribution of $10,000 was also awarded to the American Indian College Fund AGEM Scholarship. This worthwhile and very successful cause provides full scholarships for multiple students each year.
  • AGEM members discussed the recent activity in Florida that could be promising for gaming regulations to be passed this year, although the Senate and House bills have vastly different goals. One seeks to expand, while the other wishes to freeze gambling. However, the Florida Legislature is fast approaching its last regularly scheduled session day. The state Senate and House are set to adjourn for the year on May 5, adding urgency in finding a resolution to the gambling dilemma.
  • The European Casino Association recently appointed Philip Easthill as executive director. Easthill has been working with AGEM regarding E.U. initiatives that might impact members. A proposed directive on liability for defective products is currently in consultation, and might change the rules that are decided at E.U. level.

UPCOMING EVENTS

  • The Japan Gaming Congress takes place May 10-11 in Tokyo. AGEM members approved a sponsorship of $15,000 to support the Congress and ensure that AGEM has a strong presence in this important new market.
  • AGEM will be very visible at G2E Asia in Macau May 16-18 in support of show partners American Gaming Association and Reed Expo.
  • The European Dealer Championship will be held May 8-10 at the Hippodrome Casino in London. AGEM is once again sponsoring this important event that brings together dealers from all over Europe to compete for the top prize.

AGEM INDEX

The AGEM Index reached another record high in March, continuing the momentum from previous months. The composite index stood at 361.28 points at the close of March 2017, which represents an increase of 9.84 points, or 2.8 percent, when compared to February 2017. The AGEM Index reported a year-over-year increase for the 18th consecutive month, rising 136.93 points, or 61.0 percent, when compared to March 2016. During the latest period, nine of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with three up by more than 10 percent. Four manufacturers reported decreases in stock price during the month, with three experiencing double-digit losses.

Author: GGB Staff

Staff writers for Global Gaming Business magazine, Las Vegas, Nevada.