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AGEM Meeting Recap June 2024

AGEM Meeting Recap June 2024

• AGEM Director of Responsible Gaming Connie Jones shared an overview of a recent presentation to members given by YGAM (Young Gamers & Gamblers Education Trust). AGEM is a supporter of this important charity whose purpose is to inform, educate and safeguard young people against gambling harms. AGEM and its members also support YGAM’s training programs for colleagues employed in the gambling industry. More information on these courses and ways to support the charity will be shared with members in the coming months.

• The Nevada Gaming Control Board released policy guideline updates on May 28 and May 30. The first focused on process changes within the Nevada framework to hopefully speed the process of approvals required in Nevada while the second focused on issuing more expedient approvals for certain modifications to existing products in the Nevada market. AGEM continues to advocate for additional changes that can quickly be implemented within Nevada’s existing statutory and regulatory framework, and believes these process changes are initial steps in the right direction but that much more work can be done to improve the overall Nevada process. AGEM appreciates Chairman Kirk Hendrick’s stated goals of making substantial changes in Nevada and looks forward to continuing the dialogue with Chairman Hendrick and Nevada stakeholders in the months and years ahead.

• Alfredo Lazcano, a Mexico-based attorney with the Lazcano Samano firm, an AGEM Associate Member, gave a general overview and update of the current situation in the country. Following the presidential and congressional elections in early June, the current majority ruling party won significant victories in presidential and leadership races to remain in control of the next government. Since the current administration previously enacted a reform decree in late 2023 aimed at prohibiting the opening of any new permitted facilities or venues and that same party will remain in control of the next government when seated in late 2024, the gaming industry in Mexico will continue pursuing legal and regulatory actions to protect their interests in the country.

Forthcoming Events

• The National Council of Legislators from Gaming States (NCLGS) Summer Meeting will take place July 17-20 at Rivers Casino, Pittsburgh, Pennsylvania. As the only U.S. gaming conference that focuses on legislative decision-makers with dozens of lawmakers from across the nation among the more than 300 expected attendees, AGEM looks forward to attending, participating in and sponsoring the event.

AGEM Executive Director Daron Dorsey gave members a brief overview of the planned fall/winter Social and Networking Events schedule. On Wednesday, November 20, prior to Thanksgiving, the Holiday Mixer will take place at Proprietor’s Reserve in Las Vegas, a venue utilized by many companies for corporate events. This is followed by The AGEM McMonigle Cup golf tournament, which will be played on December 11 at Bear’s Best Golf Course in Las Vegas. Finally, there will be the ICE cocktail reception held in Barcelona prior to the show on Saturday, January 18, 2025. Timings and location details will be shared in the coming months.

AGEM index

The AGEM Index increased by 126.56 points to 1,235.62 in May 2024, an 11.4 percent increase from the prior month. Compared to one year ago, the index was up 278.64 points, or 29.1 percent. During the latest month, eight of the 12 AGEM Index companies reported stock price increases, which resulted in eight positive contributions and three negative contributions to the AGEM Index. 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 67.53-point gain to the index. Meanwhile, Konami Corp. (TYO: 9766) saw its stock price increase by 14.8 percent, leading to a 32.43-point gain for the index. The largest negative contributor to the index was Everi Holdings Inc. (NYSE: EVRI), whose 11.5 percent decrease in stock price resulted in a 1.59-point loss to the AGEM Index. International Game Technology PLC (NYSE: IGT) saw no change in stock price in the latest period and had no impact on the AGEM Index. In May, all three major U.S. stock indices increased from the prior period. The NASDAQ grew by 6.9 percent over the month, while the S&P 500 rose by 4.8 percent. Additionally, the Dow Jones Industrial Average increased by 2.3 percent from the prior month.

AGEM Index

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