AGEM November 2022 Meeting Recap
- AGEM will host Nevada Gaming Control Board member Brittnie Watkins and Technology Division Chief Jim Barbee at the next monthly gathering on December 13. In addition to a discussion with GCB Technology on general industry issues, this will also be prior to the Nevada Gaming Commission agenda on December 22, where proposed Regulation 5 provisions surrounding cybersecurity will be discussed and considered. AGEM, through its Compliance Committee and outside counsel, is preparing a response and comments on the proposed regulations. Members are also invited to provide additional information that may assist with AGEM’s response to ensure that supplier considerations are identified and considered.
- G2E 2022 was recently completed and deemed to be a successful show by exhibitors and visitors alike. Korbi Carrison, G2E event director, gave a recap of the show at the recent monthly meeting. Total attendance is thought to be 25,000, a number which is just shy of 2019 figures; however, the data is still being analyzed with final figures not yet verified. The G2E educational panels were particularly well attended with higher-than-expected numbers and in some cases, all seats taken with standing room only. The focus now is to build on the success of this year’s show by evaluating all the feedback to determine what worked, what didn’t, and how they can continue to improve to make G2E the best show.
- For the past few months, the AGEM Compliance Committee has been putting together information to present to the Pennsylvania Gaming Control Board to improve the process of game/product approvals. Currently, some of the processes through the lab are quite cumbersome due to the regulations not keeping up with the fast pace of technology progress. AGEM members have been invited to provide information highlighting some of the more common issues that can be presented to the agency for discussion in hopes of finding a more efficient process for all parties.
Forthcoming Events
- AGEM is supporting the National Black Caucus of State Legislators Conference November 30-December 3 in Las Vegas by sponsoring a cocktail reception during the event.
- The AGEM McMonigle Cup Golf Tournament takes place at Bear’s Best Las Vegas on December 6. Open to all members, the event will consist of 20 two-person teams and will conclude with a barbecue lunch and prize-giving.
- The National Conference of Legislators from Gaming States Winter Meeting takes place December 8-11 in Las Vegas. AGEM will be a sponsor of this important legislator event with Executive Director Daron Dorsey and Director of Responsible Gaming Connie Jones taking part in various events and panels during the conference.
- The next AGEM Board of Directors/Voting Member meeting will be held on December 15.
The AGEM Index increased by 106.87 points in October 2022 to 846.64, a 14.4 percent improvement from the prior month. Compared to one year ago, the index was down 231.28 points, or 21.5 percent. The latest period marked the first month-over-month increase following a two-consecutive-month skid. During the latest month, nine of the 12 AGEM Index companies reported stock price increases, resulting in nine positive contributions to the AGEM Index and three negative contributions. The largest positive contributor to the monthly index was Aristocrat Leisure Limited (ASX: ALL), whose 12.6 percent increase in stock price led to a 35.62-point gain to the index. Light & Wonder Inc. (Nasdaq: LNW) contributed a 29.78-point increase to the index as the result of a 30.9 percent increase in its stock price. The largest negative contribution to the index was sourced to Konami Corp. (TYO: 9766), whose 2.3 percent decrease in stock price resulted in a 5.2-point loss for the AGEM Index. All three major U.S. stock indices saw month-over-month increases in October 2022. The Dow Jones Industrial Average increased by 13.9 percent from September, while the S&P 500 grew by 8 percent. Meanwhile, the NASDAQ rose 3.9 percent over the month.
