GGRAsia – AGEM Index dips nearly 2 pct in May

AGEM Index dips nearly 2 pct in May

Jun 09, 2015 Newsdesk Latest News, Top of the deck, World

After reporting a month-to-month gain of 10.39 points in April, the AGEM Index in May dipped 1.8 percent from the previous month. It was the second month-to-month decline this year and it resulted in a composite index of 196.98 in May.

Compared to a year ago, the AGEM Index is up by 10.1 percent, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC. They jointly compile the index.

In May, eight of the 13 global gaming equipment suppliers reported monthly gains in stock price, with four up by more than 10 percent. Nasdaq-listed gaming supplier TransAct Technologies Inc saw its stock price increase by 27.2 percent month-on-month in May. Scientific Games Corp reported a 20.1 percent rise in stock price last month, while Ainsworth Game Technology Ltd was up 10.7 percent.

These gains however were offset by declines reported by five suppliers, two of whom were down by more than 10 percent, according to Monday’s report. International Game Technology Plc (IGT) reported a decline of 11.1 percent in stock price and Galaxy Gaming Inc was down 10.7 percent month-on-month.

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.

Of the 13 gaming suppliers included in the index, eight were publicly-listed in the United States, while two traded on the main Australian exchange. One supplier traded on the Athens exchange in Greece, one on the Milan exchange in Italy, and another traded on the Taiwan OTC exchange.