GGRAsia – AGEM Index extends gains in February, hits new record

AGEM Index extends gains in February, hits new record

Mar 08, 2017 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index, which tracks the stock performance of listed firms in the casino equipment supply sector, reached a record high in February.

The composite index stood at 351.4 points at the close of February, an increase of 21.3 points – or 6.5 percent – compared to January, continuing a growth trend started in December 2016.

The AGEM Index reported a year-on-year increase for the 17th consecutive month, rising 155.4 points – or 78.4 percent – when compared to February 2016.

The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index in association with research firm Applied Analysis LLC.

During the February 2017 reporting period, eight of the 13 global gaming equipment manufacturers tracked by the index reported month-on-month increases in stock price. The price of two stocks was up by more than 10 percent month-on-month: Nasdaq-listed casino equipment maker and lottery services provider Scientific Games Corp recorded a 21.5-percent jump in stock price; New York Stock Exchange-listed Everi Holdings Inc reported a share price increase of 10.2 percent for the period.

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 recorded as of January 2005.

AGEM is a non-profit international trade association representing manufacturers and suppliers of electronic gaming devices, systems, table games, online technology, key components, and support products and services for the gaming industry.