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AGEM Meeting Recap

October 2022

AGEM Meeting Recap

AGEM October 2022 Recap
  • With G2E in Las Vegas the week of October 10-13, 2022, AGEM did not hold a monthly gathering in October so its members could focus on show activities. AGEM will hold its next monthly gathering on November 8, 2022.
  • AGEM hosted a “meet and greet” event for membership with Nevada Governor Steve Sisolak on October 18. The event was not formal or focused on any specific policy, while allowing AGEM members to engage with the governor on behalf of the gaming supplier sector.
  • In addition to participating in a variety of events at G2E, AGEM proudly presented its annual Memorial Awards during the show. AGEM proudly recognizes longtime industry colleagues Roy Student (Jens Halle Award) and Frank Fantini (Peter Mead Award) as its 2022 honorees.
Forthcoming Events
  • AGEM will host its holiday reception on Thursday, November 17 at 5:30 p.m. at Panevino (240 Via Antonio, Las Vegas, NV 89119).   Further invitations and details will follow in November.
  • AGEM will attend festivities surrounding dedication of the National Native Americans Memorial in Washington, D.C. November 10-11, 2022. AGEM was happy to sponsor and contribute to this worthy cause as part of the AGEM-GLI Philanthropic Initiative.

The AGEM Index fell by 91.73 points in September 2022 to 739.77, an 11 percent decline from the prior month. Compared to one year ago, the index was down 306.97 points, or 29.3 percent. During the latest month, 11 of the 12 AGEM Index companies reported stock price decreases, resulting in 11 negative contributions to the AGEM Index and one positive contribution. The largest negative contributor to the monthly index was Aristocrat Leisure Limited (ASX: ALL), whose 7.8 percent decrease in stock price led to a 44.19-point loss to the index. Additionally, Konami Corp. (TYO: 9766) contributed a 13.67-point decline in the index due to a 5.7 percent decrease in its stock price. The lone positive contribution to the index was Agilysys (Nasdaq: AGYS), whose 6.9 percent increase in stock price resulted in a 2.22-point gain for the AGEM Index. All three major U.S. stock indices saw month-over-month decreases in September 2022, marking the second consecutive month of across-the-board declines. The Dow Jones Industrial Average fell by 8.8 percent from August, while the S&P 500 declined by 9.3 percent. Meanwhile, the NASDAQ fell 10.5 percent over the latest period.

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