GGRAsia – AGEM Index for May down 1.5pct m-o-m

AGEM Index for May down 1.5pct m-o-m

Jun 09, 2023 Newsdesk Industry Talk, Latest News

The AGEM Index, a measure of the stock prices of a range of casino technology suppliers, decreased by 14.54 points in May, to 956.98, down 1.5 percent from the prior month. Compared to a year ago, the index was up 73.87 points, or 8.4 percent.

During May, six of the 12 AGEM Index companies reported stock price increases, “which resulted in six positive contributions to the AGEM Index, five negative contributions and one neutral contribution,” said the index’s publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contribution 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 10.5-percent stock price increase in May resulted in a 14.08-point gain for the AGEM Index.

Crane NXT Co, a supplier of cash-handling and other equipment for the casino industry, had a 11.1-percent increase in share price month-on-month, generating an 8.02-point gain to the index.

Crane NXT Co completed its separation from Crane Holdings Co and launched as an independent publicly-traded company on April 3. The listed stock price prior to that date is a pro forma calculated estimate, stated the AGEM Index’s compiler.

The largest negative contributor was casino equipment maker and digital gaming content provider International Game Technology Plc. Its 12.8-percent stock price decrease resulted in a 15.20-point loss for the AGEM Index.

The three major stock indices in the United States saw mixed results in May. The Nasdaq rose 5.8 percent from the prior month, and the S&P 500 grew by 0.2 percent. The Dow Jones Industrial Average declined by 3.5 percent from April.

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.