The AGEM Index, which tracks the stock performance of listed firms in the casino equipment supply sector, reached another record high in October, continuing the momentum from previous months.
The composite index stood at 475.35 points at the close of the month, which represented a sequential increase of 17.44 points, or 3.81 percent, when compared to September.
The AGEM Index reported a year-on-year increase for the 25th consecutive month, rising 153.45 points, or 47.67 percent, when compared to October 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 12 global gaming equipment manufacturers tracked by the index reported month-to-month increases in stock price, with Australia-listed Aristocrat Leisure Ltd up by more than 12 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.
Four manufacturers reported decreases in stock price during the month, with Ainsworth Game Technology Ltd – listed in the Australian Securities Exchange – posting a decline of 10.59 percent.
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 expect Goa to quickly become a US$1 billion market as it transitions to land-based casinos (from US$150 million today), which is still just a fraction of India’s total GGR potential of US$10 billion to US$17 billion”
Analyst at Union Gaming Securities Asia