AGEM Index dips 2.4 pct in June

Jul 10, 2015 Newsdesk Latest News, Top of the deck, World  

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The AGEM Index witnessed a 2.4 percent month-on-month decline in June, with the composite index falling to 192.28 points. It was the second consecutive month-on-month decline after the index fell by 1.8 percent in May.

Despite falling for two consecutive months, the AGEM Index saw its fourth consecutive year-on-year gain in June, growing by 3.7 percent from a year earlier, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC. They jointly compile the index.

In June, five of the 13 global gaming equipment manufacturers in the index reported gains in stock price. However, most of these gains were relatively modest, with four up by fewer than 3 percent, according to the latest AGEM Index.

The one standout was Nasdaq-listed Daktronics Inc, which jumped more than 10 percent month-on-month. Daktronics designs, manufactures and sells electronic display systems to several industries, including the gaming industry.

These gains however were offset by declines reported by eight suppliers, with Galaxy Gaming Inc down by 36 percent from May and Australia-based Ainsworth Game Technology Ltd declining 17 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.

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