The AGEM Index slipped 1.5 percent month-on-month in November, with the composite index falling 2.89 points from October to 194.33 at the end of last month. The index, which tracks stock prices of listed firms in the casino equipment supply sector, lost some value in November after reporting a strong month-to-month increase of 7.6 percent in October.
Compared to a year ago, the composite index reported a gain of 4.7 percent in November, increasing 8.74 points. “It represented the second consecutive month of positive annual growth,” said the Association of Gaming Equipment Manufacturers (AGEM). It compiles the index in association with research firm Applied Analysis LLC.
Agilysys Inc, a technology company that provides software and service to the hospitality industry, was added to the index in November, bringing the total number of companies represented in the index to 14.
In November, 12 of the 14 global gaming and hospitality equipment manufacturers reported month-to-month declines in stock price, with five down by more than 10 percent. Both manufacturers reporting gains in stock price during the month – Aristocrat Technologies and Konami Corp – were up by less than 5 percent, AGEM said.
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.
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”We are moving rapidly as we execute on our strategy and the planned divestitures are well-progressed”
President and chief executive of casino equipment provider Scientific Games