AGEM Board of Directors Actions – May 2019
- AGEM members had an in-person presentation at the May meeting on the new Harry Reid Research and Technology Park at the University of Nevada, Las Vegas from International Gaming Institute Executive Director Bo Bernhard and UNLV Associate Vice President of Economic Development Zach Miles. The first phase of the project on the 122-acre site is a 120,000-square-foot building that is due to open in fall timeframe this year. UNLV is currently going through massive growth, and this new Research and Technology Park will be a unique resource that will benefit both students and the industry. The university is very focused on engaging with the business community, and wants to attract key industry corporations to collaborate in building and testing great ideas and new innovations. The new addition to Las Vegas will provide the right resources to do this. More information can be found at UNLVTechPark.com.
- AGEM’s Nevada workforce development effort to lower the age of gaming supplier employment and internships from 21 to 18 announced passage by the Nevada legislature of Assembly Bill 221. Previously, Nevada statute prohibited any person under 21 from being employed as a “gaming employee” except as a member of a casino count room staff. The passage of AB221 retains the count room exception for casino operations, and otherwise applies only to the technology supplier sector, which previously couldn’t even offer internships to those under 21. The bill has been signed into law by Governor Steve Sisolak.
- The European Dealer Championship recently took place in in Tallinn, Estonia at the Olympic Park Casino with the winner Tamas Adam from Switzerland being crowned on the final evening. The competition took place over two days with 38 competitors from 20 countries. AGEM is a proud sponsor of this event that highlights not only technical skills and control of the game, but also the importance of excellent customer service.
- AGEM welcomed a new Bronze member at the May meeting—Competition Interactive, based in Las Vegas and headed up by famed casino architect Paul Steelman. Competition Interactive is an innovative gaming studio that brings the familiarity of playing video games you play at home to the casino environment.
- The International Association of Gaming Advisors (IAGA) International Gaming Summit will be held at Half Moon Bay, California June 4-6. AGEM is a sponsor of this event, and Connie Jones, director of responsible gaming, will be attending. IAGA brings together leaders from all global gaming sectors and provides operators, suppliers, attorneys, investors, bankers, regulators and other adviser delegates with an unparalleled opportunity to meet and discuss the top issues facing gaming today.
- AGEM is a sponsor of the 13th Annual Nevada State Conference on Problem Gambling, taking place June 20-21 at Suncoast Hotel, Las Vegas. The conference promotes awareness, education and professional networking, and attracts addiction and mental health professionals and interested stakeholder groups.
The AGEM Index increased in April 2019 by 23.89 points to 476.35 points, a 5.3 percent gain from March 2019. The AGEM Index’s April 2019 growth was driven by a 6.4 percent increase in the stock price of Aristocrat Leisure Limited (ASX: ALL), which rose from AU$24.51 to $26.08. The stock was responsible for 9.8 points of the AGEM Index monthly growth. International Game Technology PLC (IGT) experienced a 12.6 percent stock price gain from $12.99 to $14.63, which led to a contribution of 5.54 points. Overall, most AGEM Index companies reported increases in stock price during the month, with 10 trending positively and four moving negatively. The AGEM Index outperformed the major stock indices, as the Dow Jones Industrial Average and the S&P 500 experienced increases of 2.6 percent and 3.9 percent, respectively, while the NASDAQ grew by 4.7 percent.