AGEM Board of Directors Actions – November 2018
- AGEM’s Compliance Committee met with Nevada Gaming Control Board Chairwoman Becky Harris on October 23 to discuss the “assume responsibility” portion of Regulation 14. During the positive working session, AGEM made the case its members, specifically the slot machine companies, have always assumed responsibility for all aspects of their equipment and that extra wording within the regulation was not necessary. Chairwoman Harris said she would consult with her staff on next steps and reply to AGEM in due course.
- AGEM has recently commenced an initiative in Nevada for a proposed workforce development bill to be introduced in the upcoming legislative session that would allow suppliers to provide employment or paid internships to those under 21 years of age. Nevada has invested heavily in technical high schools, and there should be a pipeline for these students that may not wish to go on to college. The gaming supplier sector is a fast-growing, multibillion-dollar industry providing innovative development opportunities for this emerging workforce.
- The NIGA Indian Gaming Tradeshow & Convention will take place April 1-4, 2019 in San Diego. AGEM members approved funding of $50,000 for Platinum Sponsorship of the event and will now refine the details of what the contribution will be used for. In the past, this has consisted of a show floor reception on the first day, among other things.
- AGEM’s support of the Driving Arkansas Forward campaign had a positive outcome in the recent U.S. elections, with four new Class III casinos confirmed. The first casino opening is likely to be in 2020 and, with each casino having approximately 2,000-2,500 machines, this is a welcome market expansion for all of the industry.
- AGEM welcomed five new members in November. New Bronze member Synergy Blue is based in Palm Desert, California, and is a leading provider of entertainment gaming solutions, bringing arcade-style, skill-based games, platforms and applications to the casino market. Other new Associate members include Aon, with an office in Las Vegas, a global professional services firm providing a broad range of risk, retirement and health solutions; Gaming Publishing, based in Manchester, U.K., publisher of G3 Magazine and G3 Newswire, a global news portal for the gaming industry; Leadman Electronics USA, based in Santa Clara, California, a provider of data center server solutions, manufacturing services and design services; and TACK Electronics, based in Grand Rapids, Michigan, which provides custom wire harnesses and assemblies for a wide variety of electronic applications to the gaming industry among others, for over 20 years.
- The 6th Gaming Innovation Showcase will take place on December 12, 5 p.m.-8 p.m. at the International Gaming Institute at the University of Nevada, Las Vegas. This important showcase presents new talent and ideas from students at the institute to the industry.
The AGEM Index decreased in October 2018. The composite index finished the month at 452.16 points, a decline of 40.87 points or 8.29 percent, compared to September 2018. The AGEM Index reported a year-over-year decrease for the first time after 36 consecutive months of year-over-year increases. The AGEM Index decreased by 23.18 points, or 4.88 percent, on a year-over-year basis.
During the latest period, two of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price. Eleven manufacturers reported decreases in stock price during the month.