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AGEM May 2024 Recap

AGEM May 2024 Recap

  • AGEM welcomed Stephanie Goodman, executive director of the International Problem Gambling Center at the University of Nevada, Las Vegas, for a short presentation to members. Goodman thanked AGEM for its financial support for the important work carried out at the center, which has seen a 35 percent increase in clientele over the prior financial year. Goodman also highlighted the center’s current 44 percent success rate of people maintaining the program teachings after one year, a rate that is significantly higher than the national average, and other initiatives that are proving very successful, including peer support through a telephone helpline to connect callers with someone who understands their problems, and Weekend Solutions to support success plans over weekend periods when less structure and time commitments may tempt those in recovery.
  • AGEM Executive Director Daron Dorsey and Director of Responsible Gaming Connie Jones noted Goodman’s continued good work in the space, as executive director of the International Problem Gambling Center at the University of Nevada, Las Vegas, and informed the members of AGEM’s ongoing commitment to responsible gaming and problem gaming organizations like hers. They also noted AGEM’s support of similar responsible gaming organizations focused on education and training, including youth and young adult education. One of those partner organizations, YGAM, is based in the U.K. and making a presentation to AGEM’s Responsible Gaming Committee.
  • Dorsey shared news at the monthly meeting that could potentially impact members. The Federal Trade Commission recently announced that it is proposing to adopt a comprehensive ban on new non-competes for all workers, including senior executives. Historically, this included time and geographic limitations that protected companies, and these changes could potentially affect the gaming industry in a unique way. Legal challenges are already under way at the state and federal level about the proposed new rule, so AGEM will continue monitoring developments and share them with the wider membership when they occur.
  • Dorsey and President Bob Parente provided a recap on the 25th Annual AGEM-AGA Golf Classic Presented by JCM that was held May 8 at the exclusive Shadow Creek Golf Club in North Las Vegas. With 24 sponsors and 120 players, this year’s tournament to benefit the International Center for Responsible Gaming was the most successful in the event’s history. This event’s support for the ICRG over 25 years is approaching $3 million, and goes towards scientific research on critical issues for the gaming industry.

Forthcoming Events

  • Gaming Suppliers, Opportunities and Challenges, presented by VIXIO and AGEM, will take place June 12 at UNLV Black Fire Innovation, 8400 West Sunset Road, 4th Floor, Las Vegas. This is an excellent event that features fireside chats and panels covering important industry topics followed by a networking cocktail reception.
  • The Canadian Gaming Summit will take place June 18-20 at the Metro Toronto Convention Centre, Toronto, Canada. AGEM is a long-term supporter of the event and will be sponsoring an evening cocktail reception.

AGEM index

The AGEM Index decreased by 109.86 points to 1,109.06 in April 2024, a 9 percent decrease from the prior month. Compared to one year ago, the index was up 137.54 points, or 14.2 percent. During the latest month, two of the 12 AGEM Index companies reported stock price increases, which resulted in two positive contributions and 10 negative contributions to the AGEM Index. The largest negative contributor to the monthly index was Aristocrat Leisure Limited (ASX: ALL), whose 7.2 percent decrease in stock price led to a 37.06-point loss to the index. Meanwhile, Light & Wonder Inc. (NASDAQ: LNW) saw its stock price decrease by 12.6 percent, leading to a 27.73-point loss for the index. The largest positive contributor to the index was Transact Technologies (NASDAQ: TACT), whose 2.1 percent increase in stock price resulted in a 0.03-point gain to the AGEM Index. After five consecutive months of growth across the board, all three major U.S. stock indices decreased in April 2024. The Dow Jones Industrial Average fell by 5 percent over the month, while the NASDAQ fell by 4.4 percent. Additionally, the S&P 500 decreased by 4.2 percent from the prior month.

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