GGRAsia – AGEM Index hits new record in March

AGEM Index hits new record in March

Apr 07, 2017 Newsdesk Industry Talk, Latest News

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

The composite index stood at 361.28 points at the close of March, an increase of 9.84 points – or 2.8 percent – compared to February, which had been the previous record.

The AGEM Index reported a year-on-year increase for the 18th consecutive month, rising 136.93 points – or 61.0 percent – when compared to March 2016.

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

During March, nine of the 13 global gaming equipment manufacturers tracked by the index reported month-on-month gains in stock price. Australia-based slot machine maker Aristocrat Leisure Ltd reported a gain of 8.25 percent, contributing 8.58 points to the index’s overall increase. Nasdaq-listed casino equipment maker and lottery services provider Scientific Games Corp recorded a 14.53 percent increase in stock price, supplying 3.91 points to the overall index.

In the opposite direction, four manufacturers reported decreases in stock price during March, with three experiencing double-digit percentage losses, including casino supplier International Game Technology Plc (-12.22 percent) and Gaming Partners International Corp (-12.51 percent).

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.