AGEM May 2026 Recap

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The AGEM looks back at a fruitful May

• AGEM is prioritizing Nevada within its legislative, legal and regulatory agenda, given the state’s importance in the current election cycle, and plans targeted engagement with key stakeholders in the months ahead to advance AGEM policy objectives. In parallel, AGEM President and CEO Daron Dorsey also noted a new initiative for a quarterly or semi-annual briefing with Nevada’s Gaming Control Board, led by Chief Jeremy Eberwein through AGEM. These will be used to discuss potential regulatory updates, solicit industry input, and identify opportunities to improve the Nevada framework. 

• AGEM continues to monitor the situation regarding U.S. tariffs and trade policy, which has been ongoing for the past year. Nicole Porpiglia from KPMG provided a short update to members at the May meeting on recent trade developments, including the Supreme Court’s striking down of certain tariffs and the implementation of a customs refund process through the CAPE portal. She noted that while some companies have successfully filed for refunds and the portal is generally user-friendly, Customs is auditing submissions and adjusting refund amounts based on entry errors.

• Kevin Mullally, CEO of the International Association of Gaming Regulators (IAGR), gave a presentation to members at the recent monthly meeting. He outlined IAGR’s new, more structured sponsorship program to fund expanded workstreams beyond its annual conference, with eligibility limited to organizations that do not provide consumer-facing gaming products (e.g., compliance and back‑of‑house technology providers). He also highlighted a major focus on coordinated international action against illegal gambling, including an upcoming memo, a planned Illegal Gambling Awareness Week campaign, and a companion tool to help consumers identify legal operators and report suspected illegal activity.

• On May 13, KPMG, in collaboration with AGEM, hosted an in-person event at Panevino in Las Vegas focused on key trade and tax developments affecting the gaming industry. KPMG professionals delivered timely insights for members, followed by a networking reception with industry peers.

  • The AGEM–AGA 27th Annual Golf Classic, presented by JCM and benefiting the International Center for Responsible Gaming (ICRG), was held May 6 at SouthShore Country Club in Las Vegas. The event was once again a resounding success, with a full field of players competing for the title. The Konami team—Shane Thompson, Joe Giannotta, Kramer Daniels and Patrick Lazarus—claimed top honors. Beyond a memorable day for AGEM members and guests, the tournament remains an important fundraiser for the ICRG, whose mission is to prevent the onset of gambling problems through high-quality scientific research and evidence-based education on gambling disorder and responsible gambling. While the final total is still being confirmed, the industry has raised more than $3 million since the event’s inception.

Forthcoming Events

• UNLV’s International Gaming Institute (IGI) will be holding the 19th International Conference on Gambling & Risk Taking May 26-28 at Bellagio Hotel & Casino, Las Vegas. If any AGEM members wish to attend, please contact [email protected] to obtain a unique 10 percent discount code.

  • AGA International Gaming Summit will take place June 2-4 at the Ritz-Carlton in Sarasota, Florida. As a premier event that brings together leaders from all global gaming sectors, the summit will provide operators, suppliers, attorneys, investors, bankers, regulators and other delegates with an unparalleled opportunity to meet and discuss the most important issues facing gaming.

AGEM Index

The AGEM Index rose by 51.64 points to 1,523.84 in April 2026, a 3.5 percent increase from the prior month. Compared to one year ago, the index declined by 12.5 percent, or 218.45 points. During the latest month, five of the nine AGEM Index companies reported stock price increases, which resulted in six positive contributions and three negative contributions to the index.

The largest positive contributor to the monthly index was Aristocrat Leisure Limited (ASX: ALL), whose 4.3 percent increase in stock price led to a 53.53-point gain to the index. Meanwhile, Crane NXT, Co. (NYSE: CXT) saw its stock price increase by 10.1 percent, leading to a 7.93-point increase for the index.

The largest negative contributor to the index was Konami Corp. (TYO: 9766), whose 2.2 percent decrease in stock price resulted in a 6.24-point loss to the AGEM Index. In April, all the three major U.S. stock indices increased from the prior month. The NASDAQ rose by 15.3 percent over the month, while the S&P 500 experienced a 10.4 percent gain. Meanwhile, the Dow Jones Industrial Average improved by 7.1 percent from the prior month.