AGEM June 2022 Meeting Recap
- A little later than planned, AGEM has finally moved into a new office in Co-Operate at Black Fire Innovation, which is part of the Harry Reid Research and Technology Park overseen by the University of Nevada, Las Vegas. This new facility will be AGEM’s headquarters and continue to provide a location for association business, including the monthly meetings, as the number of physical attendees at gatherings will continue to grow in the coming months. The new office address is 8400 W Sunset Rd, 3rd Floor, Las Vegas, NV 89113.
- Following up on the success of AGEM’s petition to Nevada gaming authorities for regulations surrounding cloud computing technology, AGEM is working alongside industry representatives, predominately in the sports betting and racing space, to provide comments and input to Nevada gaming authorities on proposed revisions to Regulations 5, 22 and 26C. AGEM appreciates the opportunity to work alongside industry participants and the Nevada Resort Association in these informal working groups and hopes to maintain an ongoing dialogue with Gaming Control Board members and staff on this and other issues. AGEM Executive Director Daron Dorsey also noted his intention to work with Chair Brin Gibson and Technology Division Chief Jim Barbee to attend an upcoming AGEM meeting and establish a periodic opportunity for them to communicate with the gaming supplier sector.
- The G2E Steering Committee meeting was to take place June 23, attended by Dorsey and President David Lucchese from AGEM, Bill Miller and Casey Clark from the AGA, and Korbi Carrison and
Fernando Fischer from Reed Exhibitions (RX). In addition, Carrison from RX will be present at the July meeting to provide updates and information about G2E as that event gets closer.
- AGEM continues to support the industry’s unregulated gaming machine campaign, with Dorsey meeting with FBI and AGA representatives in Washington, D.C. on June 16. In addition to federal law enforcement discussions, AGEM hopes to establish ongoing dialogue at the state level across a number of jurisdictions to continue shining a light on the ongoing problems caused by unregulated gaming.
- In a bid to foster more engagement within AGEM committees, a series of meetings are planned or have taken place recently. The AGEM Compliance Committee met on June 3 and the Mexico Committee met on June 23, headed by Eduardo Alvarez of AGS, who is based in Mexico. The Responsible Gaming Committee will meet on July 13, and quarterly thereafter. Connie Jones, AGEM’s director of responsible gaming, will help lead this committee and focus on how to better message and advocate AGEM’s responsible gaming agenda.
- AGEM Executive Director Daron Dorsey will be participating in various panel discussions at the National Conference of Legislators from Gaming States (NCLGS) Summer Meeting held in Boston July 7-9. The event is attended by policymakers and legislators, and provides information on relevant gaming issues within the United States. Dorsey will be participating in GLI’s training seminar and on a panel discussion during the conference, each focused on the growing problem of unregulated gaming.
In May 2022, the AGEM Index rose by 20.68 points to 883.1, marking a 2.4 percent increase from April. Compared to one year ago, the index was down 96.59 points, or 9.9 percent. During the latest reporting period, six of the AGEM Index companies reported stock price increases, while the other six posted declines in stock price. As a result, half of the companies in the AGEM Index posted positive contributions and the other half posted negative contributions to the overall index, with net contributions resulting in a month-over-month gain. The largest positive contributor to the monthly index was Konami Corp. (TYO: 9766), which reported an 18.99-point gain to the index as a result of an 9.5 percent increase in overall stock price. Meanwhile, Aristocrat Leisure Limited (ASX: ALL) contributed a 6.23-point gain to the index with a 0.4 percent increase in the company’s stock price coupled with a strengthened exchange rate between the United States dollar and the Australian dollar. The largest negative contribution to the index was sourced to Light & Wonder Inc. (Nasdaq: LNW), whose 5.8 percent decline in stock price equated to a 5.78-point loss in the overall index. In the latest reporting period, two of the three major U.S. stock indices observed positive but negligible growth. The Dow Jones Industrial Average increased by 0.04 percent from April, while the S&P 500 rose by 0.01 percent. Meanwhile, the NASDAQ saw a 2.1 percent decline over the month.