GGRAsia – AGEM Index in 23rd monthly year-on-year gain

AGEM Index in 23rd monthly year-on-year gain

Sep 12, 2017 Newsdesk Industry Talk, Latest News, World

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 August – the 23rd consecutive month of such improvement – of 145.26 points, or 50.7 percent, compared to August 2016.

The composite index stood at 431.66 points at the close of August which represents an increase of 7.74 points, or 1.82 percent, when compared to July 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, eight of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with three up by more than 10 percent. Five manufacturers reported decreases in stock price during the month, with all of those posting single-digit declines.

Australia-listed Aristocrat Leisure Ltd contributed 4.87 points during the month due to a 4.65 percent increase in stock price to AUD21.17 (US$16.97), while fellow Australian manufacturer Ainsworth Game Technology Ltd contributed 0.85 points due to a 2.66 percent increase in stock price to AUD2.66.

U.S.-listed International Game Technology Plc reported a 6.99 percent increase in stock price to US$20.37 and contributed 3.90 points for the overall index increase.

Selected negative contributors included: U.S.-listed Scientific Games Corp with a negative 2.13 points, on a stock price that fell 4.99 percent to US$35.20; and Crane Co, which reported a 1.68 percent decrease in stock price to US$74.23, contributing a negative 1.01 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.