AGEM Index drops for third consecutive month in May
The AGEM Index reported a month-to-month decline for the third consecutive month in May. The index fell 2.56 points, or 1.4 percent, compared to April, reaching a composite index of 178.92.
The index has now reported monthly declines in four of the first five months of the year.
“The latest performance is attributable to eight of the 16 global gaming equipment manufacturers witnessing declines in stock price in May,” said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which compile the index.
Scientific Games Corp was the worse performer in May, posting a 25.3-percent drop in share price from one month before, to US$8.95. Bally Technologies Inc came next, with a 9.4-percent decline in stock price to US$59.0.
Of the six companies that witnessed month-to-month gains, two were up by more than 5 percent. Global Cash Access Inc reported a stock price of US$8.90, up by 34.9 percent on a month-to-month basis, and Aristocrat Leisure Ltd reported an increase in stock price of 5.6 percent to A$5.31 (US$5.0) during the same period.
In contrast to the AGEM Index, the broader stock markets reported positive results in May, with the Down Jones Industrial Average, the S&P 500 and the Nasdaq all posting month-to-month increases.
The AGEM Index comprises 16 global gaming suppliers throughout the world. A total of 11 suppliers are based and 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 exchange.
The 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.
Latest News
Sign up to our FREE Newsletter
(Click here for more)
