AGEM Index down 3pct m-o-m in March

Apr 05, 2024 Newsdesk Industry Talk, Latest News  

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The AGEM Index, a measure of the stock prices of a range of casino technology suppliers, declined by 42.18 points to 1,218.92 in March, a 3.3-percent fall from the prior month, according to a Thursday written statement. Compared to one year ago, the index was up 273.11 points, or 28.9 percent.

During the latest month, five of the 12 AGEM Index companies reported stock price increases, with “seven negative contributions” to the AGEM Index, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contributor to the monthly index was Crane NXT Co, a maker of products including ones for the gaming sector, whose 6.0 percent increase in stock price resulted in a 5.48-point gain to the AGEM Index.

The largest negative contribution to the index was sourced to Australia-listed slot machine maker and gaming content provider Aristocrat Leisure Ltd, which saw its stock price decline by 8.0 percent, leading to a 34.83-point loss for the index.

The stock price of casino equipment maker and lottery provider International Game Technology Plc (IGT) fell by 16.9 percent, leading to a 19.91-point loss for the index.

All three major U.S. stock indices increased in March, which marked the fifth consecutive month of growth across the board. The S&P 500 rose by 3.1 percent over the month, while the Dow Jones Industrial Average grew by 2.1 percent month-on-month. The Nasdaq increased by 1.8 percent from the prior month.

AGEM represents manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry. The association began compiling data for the index in January 2005 using a base of 100 points. The stocks that constitute the AGEM Index are weighted by approximate market capitalisation.

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