Nov 15, 2018 Newsdesk Industry Talk, Latest News, Top of the deck
The AGEM Index tracking the share prices of the leading global gaming machine manufacturers continued to slide last month, with October’s composite index down 8.29 percent compared to September’s.
The Association of Gaming Equipment Manufacturers, which compiles the index, said in a written statement that just two of the 13 global gaming equipment manufacturers the index follows reported month-to-month increases in stock price; Taiwan’s Astro Corp and United States-based TransAct Technologies Inc.
In October, the AGEM Index finished the month at 452.16 points, a decline of 40.87 points. The composite index recorded a year-on-year decrease for the first time in 36 consecutive months of increases. In year-on-year terms, the index fell by 23.18 points or 4.88 percent.
The index is heavily weighted to gaming companies listed in the United States and last month’s data reflects a general downturn in its stock market. The association says the U.S. S&P 500 reported a fall of 6.94 percent last month, the Dow Jones Industrial Average eased 5.07 percent and the NASDAQ decreased 9.20 percent during the same period.
Among the biggest declines in the constituent stocks of the index were Australia’s Aristocrat Leisure Ltd, which fell 6.82 percent to AUD26.50 (US$19.27) last month, and the stock of Crane Co, which fell by 11.50 percent to US$87.04.
The decline in the index signals the end to choppy growth over the past few months for gaming industry manufacturers. In July, the AGEM Index grew by 3.48 percent to finish the month at 565.39 points. June’s AGEM Index reading fell by 1.39 percent to 546.37 points. The index fell in August and in September.
AGEM represents the manufacturers of electronic gaming devices, systems, lotteries and components for the gaming industry. Some eight suppliers included in the AGEM Index are based in the United States and are listed on the NYSE, Nasdaq or OTC market, while two trade on the Australian exchange, one on the Tokyo exchange, and another trades on the Taiwan OTC exchange.
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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