The AGEM Index, which tracks the stock performance of listed firms in the casino equipment supply sector, reached another record high in May, continuing the momentum from previous months.
The composite index stood at 390.18 points at the close of the month, which represented a sequential increase of 18.68 points, or 5.0 percent, when compared to April.
The AGEM Index reported a year-on-year increase for the 20th consecutive month, rising 134.84 points, or 52.8 percent, when compared to May 2016.
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index in association with research firm Applied Analysis LLC.
During the latest reporting period, seven of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with four up by more than 10 percent.
The AGEM Index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalisation. It is based on a 100-point value recorded as of January 2005.
Positive contributors to the May 2017 AGEM Index included: Konami Holdings Corp, which provided 15.53 points due to a 17.37 percent increase in stock price to JPY5,440 (US$49.44); Aristocrat Technologies Ltd, which reported an 11.00 percent increase in stock price to AUD21.80 (US$16.26) and contributed 13.49 points; and Ainsworth Game Technology Ltd which added 1.25 points due to an 18.82 percent increase in stock price, to AUD2.21.
Six manufacturers reported decreases in stock price during the month, with three posting double-digit declines.
AGEM is a non-profit international trade association representing manufacturers and suppliers of electronic gaming devices, systems, table games, online technology, key components, and support products and services for the gaming industry.
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”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”
Daniel Boone Wayson
Chairman of the Wynn Resorts board of directors