BUSINESS

NGCB confirms interstate plans; Fahrenkopf steps down from AGA; IGT faces shareholder row

TAGs: American Gaming Association, Frank Fahrenkopf, IGT, international game technology, Nevada gaming control board, USA

usa flag thumbNevada’s attempts to set up partnerships with other states has taken another baby-step with news that a draft bill has been submitted by the state’s Gaming Control Board (NGCB). The Las Vegas Review-Journal report the changes are proposed in Assembly Bill 5, which has been passed to the governor’s office and it’s a further firming up of the Nevada Gaming Commission (NGC) plan to amend the state’s gambling industry regulations – announced on Jan. 5.

Frank Fahrenkopf is stepping down from the American Gaming Association with the group looking for a new leader for the first time in their history. Fahrenkopf will leave his post as president and CEO on June 30, 2013 after staying in the role since the group’s beginnings back in July 1995. The release from the AGA cites various “watershed accomplishments” achieved under double-F’s leadership including the positive findings and recommendations of the National Gambling Impact Study Commission, establishment of the National Center for Responsible Gaming and the success of G2E in North America and Asia.

Fahrenkopf told CalvinAyre.com: “It has been an honor to represent such a dynamic industry during the past 18 years and to work with the scores of accomplished and innovative leaders who have built our business into one of the most cutting-edge entertainment industries in the world. I think the future is bright for the industry in the U.S. and abroad as more global jurisdictions embrace gaming and the U.S. industry continues to expand and evolve to provide customers with an increasingly diversified entertainment experience.  Technology will continue to drive the evolution of this business – on the casino floor, in terms of how we interact with our customers and as the industry shifts to fully embrace new platforms online.”

The AGA is famous for being pro-federal regulation in the USA and as such we haven’t always seen eye-to-eye with the old battle-axe. His contribution to all things gaming cannot be ignored though and his interview with Rebecca Liggero early last year made the end of year top 10. Whoever is chosen to take on the mantle at the AGA will have quite the act to follow.

International Game Technology (IGT) doesn’t want four new directors, including the firm’s former CEO and chairman Charles Mathewson, to be elected to its board and has recommended shareholders vote for the eight incumbents. IGT has seen Ader Investment Management, a 3 percent shareholder, nominate the four that include Mathewson as well as Richard Pickup, Richard Brooks, and Daniel Silver. IGT, meanwhile, prefer to maintain the status quo with the current eight person board staying in place, and they added that Ader has had “multiple opportunities” to “offer plans or strategies” and that “to date, it has not suggested any constructive alternatives to the company’s strategy.” IGT is of the belief the fight with Ader’s Group has more to do with a long-running dispute with Mathewson than anything else.

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