AGEM Index down 1.6 pct m-o-m in September

Oct 10, 2014 Newsdesk Industry Talk, Latest News, Top of the deck  

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The AGEM Index declined to 187.50 in September, falling 3.08 points, or 1.6 percent, compared to August 2014. The latest period represents the sixth decline in the past nine months.

Compared to the same month a year ago, the AGEM Index reported a modest increase of 0.6 percent, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which jointly compile the register.

In September, nine of the 17 global gaming equipment manufacturers reported a month-to-month decline in stock price, with eight falling by more than 5 percent. Crane Co was down 9.2 percent for the month, while Konami Gaming Inc saw its share price retreat 10.0 percent in September.

Of the eight manufacturers reporting gains in stock price last month, three were up by more than 5 percent.

Multimedia Games Holding Co Inc, which on October 1 completed the acquisition of Nasdaq-listed PokerTek Inc, reported a stock price of US$36.01 in September, up by 29.5 percent from the previous month. Multimedia Games meanwhile is to be bought by Las Vegas-based Global Cash Access Holdings Inc for US$1.2 billion in cash.

Italian commercial lottery operator GTech SpA was up 3.9 percent month-on-month, while Scientific Games Corp, which has proposed US$5.1 billion to buy Bally Technologies Inc, reported a 6.1-percent gain in stock price to US$10.77 in September.

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 as of January 2005.

Of the 17 gaming suppliers included in the index, 12 are listed in the United States, while two trade on the Australian exchange, one supplier trades on the Athens exchange, one trades on the Milan exchange and another trades on the Taiwan OTC exchange.

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