AGEM July 2022 Meeting Recap
- Korbi Carrison, event vice president, Global Gaming Expo, gave an update to members at the recent monthly meeting. She started by giving a recap of three recent shows that Reed Exhibitions (RX) had put on this year, to give an idea of how the events market was recovering after the pandemic. All three shows were similar in size to G2E and showed good growth and a substantial increase in international attendance, which trends well for the October event. She also informed members that attendee registration is live and that all exhibiting companies should have received their individual customer invite codes to invite customers to attend G2E for free. Also live is the Exhibitor Dashboard, where companies are invited to update their listing which in turn goes onto the website. This is important so companies can get their most up-to-date messaging out and to ensure potential customers find them and know where to look at the show. A large virtual exhibitor meeting took place on July 19, where RX, the AGA and Venetian were on hand to answer specific questions regarding the show.
- As part of AGEM’s unregulated gaming machine campaign, Executive Director Daron Dorsey met with FBI, Department of Justice and AGA representatives in Washington, D.C. in June. The meeting was positive, with both the FBI and DOJ saying there are continued efforts to combat this issue, including ongoing engagement and collaboration between federal and state authorities. AGEM will continue to highlight these issues, especially as sports betting and iGaming expand throughout the U.S.
- Dorsey provided an update on the work of various AGEM committees that began in June. The goal of these committees is to ensure key points or messages can be brought to the wider audience of stakeholders in the community on behalf of the entire supplier sector. The Mexico Committee, chaired by Eduardo Alvarez, met in late June and discussed issues that AGEM should be focusing on and tackling in that market. The Mexico Committee is working to formalize a list of common issues so AGEM can speak with one voice about the gaming industry in the region, like the Compliance Committee’s ongoing discussions about key U.S. markets of Nevada and Pennsylvania. The Responsible Gaming Committee was due to meet in July, led by Connie Jones, AGEM’s director of responsible gaming, and an update will be provided in next month’s recap. AGEM’s Government Affairs Committee will similarly meet in August to review recommendations and strategies made by Mike Alonso, AGEM’s external government affairs consultant and lobbyist, regarding the 2022 general election cycle and 2023 Nevada legislative session.
- Nominations for the AGEM Memorial Awards Honoring Jens Halle and Peter Mead are open. Nominees should have a minimum of 10 years working in the industry and possess the qualities that both men displayed. The winners will be announced and presented during G2E Las Vegas in October. Visit AGEM.org for more information.
- Discussions are in progress for an AGEM end-of-year reception for its members, most likely held in mid-November before the holiday season gets under way. This event would not be attached to the annual AGEM/McMonigle Cup golf event like in prior years. Instead, this will be an early evening event held during the week. Members will be updated with all details in the coming months.
The AGEM Index fell in June by 71.71 points to 811.39, an 8.1 percent decline from the previous month. Compared to one year ago, the index was down 183.98 points, or 18.5 percent. During the latest month, 10 of the 12 AGEM Index companies reported stock price declines, and all but one company posted negative contributions to the AGEM Index. The sole positive contributor to the AGEM Index in June was Agilysys (Nasdaq: AGYS), which added 4.05 points to the index as a result of a 15.7 percent increase in its stock price. The largest negative contributor to the index was Konami Corp. (TYO: 9766), whose 14.7 percent decline in stock price resulted in a 31.61-point fall to the index. International Game Technology PLC (NYSE: IGT) saw its stock price fall 13.4 percent, resulting in an 11.13-point loss to the index. All three major U.S. stock indices saw both month-over-month and year-over-year losses in June. The NASDAQ fell by 8.7 percent from May, while the S&P 500 fell by 8.4 percent. Meanwhile, the Dow Jones Industrial Average saw a 6.7 percent decline over the month.