GGRAsia – AGEM Index begins 2017 on a positive note

AGEM Index begins 2017 on a positive note

Feb 07, 2017 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index, which tracks the stock performance of listed firms in the casino equipment supply sector, rose 8.87 points, or 2.8 percent month-on-month, to 330.14 points in January this year.

Judged year-on-year, the index reported an increase for the 16th consecutive month, rising 141.7 points, or 75.2 percent, when compared to January 2016.

The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index in association with research firm Applied Analysis LLC.

During the January 2017 reporting period, seven of the 13 global gaming equipment manufacturers tracked by the index reported month-to-month increases in stock price, with two up by more than 10 percent.

The gainers included cash handling technology specialist Everi Holdings Inc, which saw its stock price increase 35.94 percent to US$2.95; Scientific Games Corp, up 21.43 percent via its listing on Nasdaq; and International Game Technology Plc, up 3.49 percent via its listing on the New York Stock Exchange.

In January, six manufacturers reported decreases in stock price compared to the previous month, with one experiencing double digit losses.

Australia-based gaming equipment manufacturer Ainsworth Game Technology Ltd reported a 14.22 percent month-on-month decline in stock price, while Tokyo-listed Konami Corp, the parent of Konami Gaming Inc, was down 3.73 percent in month-on-month terms.

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.

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.