GGRAsia – AGEM Index extends gains into November

AGEM Index extends gains into November

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

The AGEM Index, which tracks the stock performance of major listed firms in the casino equipment supply sector, reported a year-on-year gain in November of 184.50 points, or 59.9 percent, compared to November 2016. It was the 26th consecutive month of such improvement.

The composite index stood at 492.64 points at the close of November, which represents an increase of 17.30 points, or 3.64 percent, when compared to October 2017.

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

During the latest reporting period, seven of the 12 global gaming equipment manufacturers included in the index reported month-to-month increases in stock price. Five manufacturers reported decreases in stock price during the month, with one posting double-digit declines.

U.S.-listed International Game Technology Plc reported a 16.98 percent increase in stock price and contributed 12.99 points for the overall index increase.

Scientific Games Corp contributed 6.88 points during the month due to a 10.61 percent increase in stock price, while Japan-listed Konami Corp contributed 8.69 points due to a 7.82 percent increase in stock price.

Selected negative contributors included: Australia-listed Aristocrat Leisure Ltd with a negative 12.88 points, on a stock price that fell 7.86 percent; while fellow Australian manufacturer Ainsworth Game Technology Ltd, which reported a 10.09 percent decrease in stock price, contributed a negative 0.79 points.

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.