AGEM MEMBERSHIP NEWS MEMBER PROFILE
Company / Portilla, Ruy-Diaz y Aguilar, S.C. Web address /
www.portilla.com.mx AGEM Membership level / Full
Description / PR&A provides comprehensive services for the gambling industry, corporate, real estate, contracts, foreign investment, mergers and
acquisitions, commercial and civil litigation, consumer protection, arbitration, risk-preventive consulting, labor, foreign trade, immigration, health, and relief proceedings areas. Our Partners are responsible of personally coordinating and supervising a group of
lawyers and paralegals in their corresponding areas of law, in order to not only meet our clients expectations, but to far exceed them.
What new products and services will you introduce this year? We are incorporating the tax area as a new service through various experienced professionals.
Do you have any newsworthy events to share? We are continuously participating and organizing seminars and webinars in different areas such as Gaming
Industry, Foreign Trade, Responsibility derived from force majeure events such as COVID, Labor, etc.
Would you like to add anything else? PR&A'S primary values are, among others, to build a close and lasting relationship with each client, in order to provide
comprehensive legal services, with perseverance and commitment to teamwork, so as to accomplish the best and most effective, fairly priced and competitive
results in accordance with our clients’ needs. Our goal is to find adequate solutions for each and every one of our clients’ needs. PR&A has offices in Mexico City, Queretaro and Los Cabos.
AGEM INDEX
The AGEM Index increased by 4.53 points in June 2020 to 407.41 points, a 1.1 percent gain from May 2020. Six of the 13 AGEM Index companies reported stock price increases amid ongoing uncertainty about the global economy and the effects of the COVID-19 pandemic. The stock price for Aristocrat Leisure decreased 0.9 per cent due to the Australian dollar strengthening against the US dollar. In turn, this accounted for a 5.06-point rise in the AGEM Index. Crane Co. experienced a 6.7 per cent stock price jump, leading to an index contribution of 3.93 points. All three major US stock indices increased as the Dow Jones grew by 1.8 per cent and the S&P 500 grew by 1.7 per cent.
AGEM is an international trade association representing manufacturers of electronic gaming devices, systems, lotteries and components for the gaming industry. The Association works to further the interests of gaming equipment manufacturers throughout the world. Through political action, tradeshow partnerships, information dissemination and good corporate citizenship, the members of AGEM work together to create benefits for every company within the organisation. Together, AGEM and its member organisations have assisted regulatory commissions and participated in the legislative process to solve problems and create a positive business environment.
P8 NEWSWIRE / INTERACTIVE / MARKET DATA
MEMBERSHIP NEWS
AGEM Key Board of Directors Actions l AGEM has been working for some time on proposed updates that address language in both Regulation 1 and 14 in Nevada. With support from the Nevada Gaming Control Board (GCB), the Nevada Gaming Commission convened at the end of June to review the proposed amendments and subsequently approved all the changes supported by AGEM. Tese updates include the GCB’s Technology Division accepting different forms of technology related to source code media and improvements to the New Innovation Beta (NIB) programme designed to fast track products to the gaming floor and allow suppliers to accelerate new games and concepts. Te Commission also approved updated cashless gaming language that may possibly be the most impactful for the industry, especially at this time when the idea of handling cash is less attractive. AGEM submitted a letter of support for all of these changes and Commission Acting Chairman John Moran cited AGEM’s support during the hearing.
l In July 2019, AGEM initially contacted the Pennsylvania Gaming Control Board (PGCB) flagging that certain game types allowed in most gaming jurisdictions were not allowed in Pennsylvania due to its regulatory language. AGEM subsequently reviewed the wording and submitted recommendations for changes last December. Since that time and as the industry has been navigating the pandemic, AGEM Executive Director Marcus Prater has been pushing for updates in support of the suppliers overall. PGCB Executive Director Kevin O’Toole responded prior to AGEM monthly meeting in July and outlined his case that most games are getting approved for the land-based, online and VGT markets in Pennsylvania, but that he remains open to continuing the dialogue with AGEM and its members.
l Nevada Industry Excellence (NIE) has recently launched a website aimed at marrying up Nevada gaming employees who have been furloughed or laid off with vacancies in other industries. In addition, NIE is working to obtain federal funding for vital retraining programmes. Te
www.NevadaWorksTogether.com website is providing much-needed resources in these difficult times. At the national level, the National Association of Manufacturers (NAM), of which AGEM is a member, has launched
www.TeManufacturingInstitute.org as a new resource as well.
l AGEM’s Director of Responsible Gaming, Connie Jones, highlighted at the July meeting the possibility of proposed cuts to funding for problem gaming in Nevada. Due to the current situation, there is an estimated US$1.2bn shortfall for the Fiscal Year 2021, which represents a quarter of the general-fund appropriations. Te Department of Health and Human Services makes up approximately one-third of the state budget that provides funding for problem gaming. However, due to the shortfall, the department is proposing up to a 75 percent cut to funding for problem gambling. No final decisions have been made as of mid-July, but there is a real concern this vital funding will be cut. AGEM, meanwhile, approved its annual $50,000 contribution to the Dr. Robert Hunter International Problem Gambling Center in Las Vegas.
Forthcoming Events l Te G2E Las Vegas physical event was officially cancelled recently. However, organiser Reed
Exhibitions is working on a virtual event offering and will be announcing details soon as to when this will be and what the programme will look like.
l Nominations for the AGEM Memorial Awards honouring Jens Halle and Peter Mead have been opened with a deadline for submissions of August 15. Te winners will be announced in October. Visit
www.AGEM.org for more information.
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