AGEM September 2022 Meeting Recap
- With G2E fast approaching, Event Director Korbi Carrison gave an event update at the September monthly meeting. She confirmed visitor registration was trending very strongly with increased interest from global media representatives, indicating the show will be very well attended and feel very similar to the 2019 event in terms of numbers. In line with local regulations, she confirmed there will be no mask or vaccine mandate. Once again, the Innovation Lab will be on the show floor, focusing on emerging technology, iGaming and sports betting, and there will also be a Networking Lounge on the show floor for the first time. Communications have been sent out highlighting some of the keynote speakers, with the final keynotes announced in the next few weeks. With so much interest and a real buzz building, the expectation is that 2022 will be a bumper show.
- For the 2022 general election cycle in Nevada, AGEM’s Board of Directors/Voting Members approved the strategy for political contributions recommended by Mike Alonso. Additionally, AGEM is working to arrange a “meet and greet” event for membership with both Nevada gubernatorial candidates, Governor Steve Sisolak and Clark County Sheriff Joe Lombardo. The goal of such events is not to focus on a specific policy, just to introduce them to AGEM members and facilitate discussions on the issues and goals of the gaming supplier sector.
- At the beginning of the September meeting, Daron Dorsey announced Jack Bulovsky, AGEM’s first executive director, recently passed away and acknowledged Bulovsky’s role in the early days of AGEM, when he was instrumental in creating the foundation for what AGEM has now become. AGEM will be making a charitable contribution in Bulovsky’s honor and will circulate details to the membership at a later meeting once they are finalized.
- With our in-person meetings and gatherings returning, AGEM intends to invite industry and community-related speakers and individuals to monthly meetings to engage with the membership. This month, Karen Marben and Kam Green from Goodwill of Southern Nevada attended the meeting and shared information on their organization’s Train and Place initiative. This compelling model and framework is set up to fill in-demand roles that have been hard to place, especially since the pandemic, with Goodwill working closely with employer partners to customize training programs for entry-level applicants in numerous fields to those who may not previously have had the opportunity.
- AGEM will be located at Booth 3700 at G2E, and looks forward to welcoming members back to this premier industry event. Once again, the AGEM Memorial Awards presentation commemorating Jens Halle and Peter Mead will take place at the AGEM booth on Wednesday, October 12 at 4 p.m. Nominations are currently being reviewed by the Awards Committee with some strong recommendations put forward by AGEM members and past award-winners.
- Other events AGEM is sponsoring during G2E include the Kick Up Your Heels event hosted by Global Gaming Women on October 6, 5 p.m.-7 p.m. at Wynn; and the Chairmans’ Reception, which is co-hosted with the AGA and combines the Hall of Fame Awards. Two of this year’s honorees are well-known within the supplier segment and well-deserved of the awards—Gavin Isaacs, former president and CEO of Scientific Games Corporation and current chairman of Games Global; and Mike Rumbolz, former CEO of Everi Holdings and current executive chairman of the company’s board.
The AGEM Index fell by 32.33 points in August 2022 to 831.50, marking a 3.7 percent decline from the prior month. Compared to one year ago, the index was down 181.38 points, or 17.9 percent. During the latest month, seven of the 12 AGEM Index companies reported stock price decreases, which resulted in eight negative contributions to the AGEM Index and four positive contributions. The largest negative contributor to the monthly index was Konami Corp. (TYO: 9766), whose 9.7 percent decrease in stock price led to a 19.75-point loss to the index. Crane Co. (NYSE: CR) contributed a 5.21-point decline to the index due to a 4.6 percent decrease in its stock price. The largest positive contribution to the index was PlayAGS Inc. (NYSE: AGS), whose 55.3 percent increase in stock price equated to a 3.22-point gain for the AGEM Index. All three major U.S. stock indices saw month-over-month decreases in August 2022, marking the second time this has occurred in the past three months. The Dow Jones Industrial Average fell by 4.1 percent from July, while the S&P 500 declined by 4.2 percent. Meanwhile, the NASDAQ fell 4.6 percent over the latest period.