AGEM Index flat during February 2023

Mar 07, 2023 Newsdesk Industry Talk, Latest News  

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The AGEM Index was essentially flat during February, decreasing by 1.51 points, to 950.91, a 0.2 percent decrease from the prior month. Compared to one year ago, the index was down 2.04 points, or 0.2 percent.

During February this year, half of the 12 AGEM Index companies reported stock price increases. Overall, there were five positive contributions to the AGEM Index and seven negative contributions, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contribution to the monthly index was sourced to slot machine maker Aristocrat Leisure Ltd, with its 7.6-percent stock price increase leading to a 9.27-point gain to the index.

Crane Co, a supplier of cash handling technology to the casino sector, saw its stock price increase by 3.3 percent, leading to a 4.76-point gain for the index.

The largest negative contribution to the index was from Japan’s Konami Group Corp, which via its Konami Gaming Inc and Konami Australia Pty Ltd units, supplies casino slot machines and floor management systems. The parent’s 5.7-percent stock price decrease in February resulted in a 12.48-point loss for the AGEM Index.

All three major United States-based stock indices saw month-on-month decreases in February. The Dow Jones Industrial Average decreased by 4.2 percent from the prior month, while the S&P 500 fell by 2.5 percent. The NASDAQ dipped by 0.9 percent from January.

AGEM represents manufacturers of electronic gaming devices, systems, lotteries and components for the gaming industry. 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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