AGEM August 2024 Recap
• Daron Dorsey, AGEM executive director, provided an update to members on some significant recent developments in Brazil. Those included the July 31 actions by Brazil’s Ministry of Finance to publish a regulatory ordinance outlining technical requirements for a wide range of online casino games that may be offered by operators licensed under the December 2023 law, including online slots, table games, crash games and live casino content. Separately, on August 8, Brazil’s Senate held a plenary debate on a sweeping bill to authorize land-based casino resorts and bingo halls. Final votes on that bill are not expected until late 2024 or beyond.
• AGEM also briefly discussed recent activity in Mexico surrounding the 2023 reform decree there. Recent court decisions in certain cases undertaken by the industry against the reform decree have resulted in favorable findings and injunctions. Due to these recent events, a final appellate or high court ruling about the constitutionality of the reform decree appears likely in the coming months. Clear guidance and a return to pre-November 2023 treatment of suppliers would be a welcome development.
• Connie Jones, AGEM director of responsible gaming, attended the National Conference on Gambling Addiction & Responsible Gambling, which took place in San Diego in July. AGEM is a proud sponsor of this event, which brought together world-class presenters and drew a record attendance of more than 600 participants. Covering all aspects of problem and responsible gaming, the excellent program saw five sessions running concurrently each hour for the two days of the event. Jones represented AGEM at the event and chaired a session on Women Transforming Sports Betting, where she noted the importance of these gatherings to keep up to date with changes in a rapidly expanding industry and a continued focus on research, education and treatment, especially efforts in those areas related to young people.
Forthcoming Events
• September is Responsible Gaming Education Month (RGEM), led by the American Gaming Association. AGEM is hosting a virtual roundtable and panel discussion with industry experts on September 17 at 9 a.m. PST. Those interested should contact Connie Jones for invitation details.
• The two worthy recipients of the 2024 AGEM Memorial Awards Honoring Jens Halle and Peter Mead will be announced in the coming weeks. The winners will be presented with their awards at a special event during G2E hosted by AGEM on Wednesday, October 9 at 2 p.m. in the G2E Networking Lounge. All AGEM members and friends are invited to attend the reception and to toast this year’s exceptional recipients.
AGEM index
The AGEM Index increased by 93.3 points to 1,423.49 in July 2024, a 7 percent increase from the prior month. Compared to one year ago, the index climbed 30.1 percent, or 329.33 points. During the latest month, 10 of the 12 AGEM Index companies reported stock price increases, which resulted in 11 positive contributions and one negative contribution to the AGEM Index. The largest positive contributor to the monthly index was Aristocrat Leisure Limited (ASX: ALL), whose 9 percent increase in stock price led to a 34.13-point gain to the index. Meanwhile, International Game Technology PLC (NYSE: IGT) saw its stock price increase by 14.7 percent, leading to a 16.59-point gain for the index. The lone negative contributor to the index was PlayAGS Inc. (NYSE: AGS), whose 0.4 percent decrease in stock price resulted in a 0.05-point loss to the AGEM Index. As of July 2024, the AGEM Index has experienced 16 consecutive months of positive year-over-year growth with all but one of the periods showing double-digit growth. Over this period, the index grew by 46.5 percent, or 451.97 points. This marked the longest period of sustained growth since November 2020 to April 2022, when the index experienced positive year-over-year growth for 18 consecutive months. In July, two of the three major U.S. stock indices decreased from the prior period. The NASDAQ fell by 3.2 percent over the month, while the S&P 500 fell by 0.6 percent. At the same time, the Dow Jones Industrial Average increased by 2.7 percent from the prior month.
