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AGEM September 2023 Monthly Meeting Recap

September 2023

AGEM September 2023 Monthly Meeting Recap

  • The Nevada Gaming Control Board recently announced another workshop was to take place on September 27. AGEM was represented by Executive Director Daron Dorsey and its outside counsel, Dan Reaser. This workshop followed one held in March and continued the discussion on improving the regulation of gaming technology in Nevada.
  • Korbi Carrison, RX event VP for G2E, gave an update to AGEM members at the recent monthly gathering. She shared that registration is tracking a little ahead of the same time last year. Steps have been taken to ease the registration process and alleviate some of the bottlenecks previously experienced, with more kiosks and registration desks. Some new items for this year’s show include a refreshed brand, which visitors will see reflected around the show. Other key highlights include a new iGaming Zone that features a collection of exhibiting companies and also provides a gateway to other exhibiting companies that showcase iGaming in their portfolios. The Lab (formerly, the Innovation Lab) is a launching pad for emerging trends for the entire gaming ecosystem. Lastly, the Networking Lounge has been expanded, featuring themed meetups and events for the G2E community to engage and connect.
  • September is Responsible Gaming Education Month, and saw Director of Responsible Gaming Connie Jones chair the AGEM RG Committee meeting. Attended by nine other AGEM committee representatives, the featured agenda item was a presentation from Stephanie Goodman, executive director of the Dr. Robert Hunter International Problem Gambling Center (PGC). AGEM donates $50,000 annually to the center, which carries out a range of services, and impressively can state that when individuals go through the Intensive Outpatient program the success rate is an exceptional 92 percent.
  • Jones also provided her monthly report, including a recap of the National Council for Problem Gaming Annual Conference in Washington, D.C. AGEM remains a key supporter of the NCPG.

Forthcoming Events

The AGEM Memorial Awards presentation commemorating Jens Halle and Peter Mead will take place at G2E on Wednesday, October 11 at 2 p.m. This year, AGEM will present its annual awards in the G2E Networking Lounge, which provides a better, more formal location to gather and celebrate this year’s recipients. Nominations are currently being reviewed by the Awards Committee with some strong recommendations put forward by AGEM members and past award winners.

AGEM Index

The AGEM Index increased by 12.91 points to 1,107.07 in August 2023, a 1.2 percent increase from the prior month. Compared to one year ago, the index was up 275.57 points, or 33.1 percent. During the latest month, seven of the 12 AGEM Index companies reported stock price increases, which resulted in seven positive contributions and five negative contributions to the AGEM Index. The largest positive contribution to the monthly index was sourced to Light & Wonder Inc. (Nasdaq: LNW), whose 9.1 percent increase in stock price led to a 15.1-point gain to the index. Meanwhile, Konami Corp. (TYO: 9766) saw its stock price increase by 6.1 percent, leading to a 6.99-point gain for the index. The largest negative contribution to the index was sourced to International Game Technology PLC (NYSE: IGT), whose 5.4 percent decrease in stock price resulted in an 8.16-point loss for the AGEM Index. All three major U.S. stock indices declined in August 2023. The Dow Jones Industrial Average declined by 2.4 percent over the month, while the NASDAQ fell by 2.2 percent. Meanwhile, the S&P 500 decreased by 1.8 percent from the prior month.