The AGEM Index reported a month-to-month decline for the third consecutive month in November. The index fell 1.41 points, or 0.8 percent, compared to October, reaching a composite index of 185.58.
Compared to a year ago, the index fell 7.89 points, or 4.1 percent, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which jointly compile the index.
Broader equities markets trended in a positive direction, contrasting with the AGEM Index.
In November 10 of the 16 global gaming suppliers reported a monthly decline in stock price, with six falling by more than 5 percent.
Of the six companies reporting gains in stock price, only one was up by more than 5 percent. Scientific Games Corp contributed 3.10 points to the index, due to a 28.6-percent increase in stock price to US$15.14. In November, Scientific Games completed the acquisition of Bally Technologies Inc, removing the latter from the AGEM Index.
Nevada-based International Game Technology (IGT) reported a stock price of US$17.03, up 3.9 percent, and contributed with 1.39 points. IGT is being bought by Italian GTech SpA for US$6.4 billion. The transaction is due to be completed in the first half of 2015.
With a stock price of US$36.29, up 4.0 percent, Multimedia Games Holding Co Inc contributed with 0.36 points to the index. Shareholders of the company last week approved the merger with Las Vegas-based Global Cash Access Holdings Inc.
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 16 gaming suppliers included in the index, 11 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.
May 20, 2019Japan’s “very low unemployment” could be a major problem for international casino firms hoping to hire thousands of locals, should such firms win one of up to three casino licences on offer in...
"There’s a lot of competition and politics involved, but we are absolutely confident about our bid for Osaka”
Chairman and chief executive of Melco Resorts