The AGEM index, a measure of the stock prices of a range of casino technology suppliers, edged up 0.6 percent month-on-month to 1,936.63 in October, as only two out of the 10 AGEM Index companies reported stock price increases sequentially.
Compared to a year ago, the October AGEM index rose 27.6 percent, or 418.43 points, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).
During October, there were only two positive contributors and eight negative contributors to the AGEM index, said the association in a Wednesday announcement.
The largest positive contributor to the index in October was Tokyo-listed Konami Group Corp, whose 20.6 percent month-on-month increase in stock price resulted in a 106.09-point gain to the AGEM Index.
The index publisher attributed the growth in Konami’s stock price to the 22.1-percent year-on-year increase in the company’s revenue for the six months to September 30. Konami’s revenue for its gaming and systems division – including casino equipment – was however down by nearly 4.5 percent year-on-year in the reporting period.
The other positive contributor to the AGEM Index in October was Nasdaq-listed Agilysys Inc, a maker of business software for the hospitality sector, whose 19.2 percent month-on-month increase in stock price resulted in a 19.97-point gain to the index.
The largest negative contributor to the October index was Australia-listed slot machine specialist and online content provider Aristocrat Leisure Ltd, which saw its stock price decrease by 9.6 percent month-on-month, leading to a 79.52-point loss to the AGEM Index.
Since late August, Aristocrat Leisure’s stock price has fallen 13.4 percent, stated the association.
In October, all three major U.S. stock indices increased from the prior month for the third consecutive period. The Nasdaq rose by 4.7 percent over the month, while the S&P 500 experienced a 2.3 percent gain. The Dow Jones Industrial Average rose by 2.5 percent relative to September.
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.
AGEM produces the monthly AGEM Index in association with Nevada-based advisory service firm Applied Analysis.
