GGRAsia – AGEM Index posts slight decline in February

AGEM Index posts slight decline in February

Mar 08, 2018 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index, which tracks the stock performance of the world’s major listed casino gaming equipment suppliers, posted a modest decline for the month of February. The composite index closed last month at 513.47 points, a drop of 26.77 points or 4.96 percent, when compared to January 2018.

The AGEM Index still reported a year-on-year increase for the 29th consecutive month and climbed 162.03 points, or 46.10 percent, since February 2017, according to a Tuesday press release.

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

During the February 2018 reporting period, two of the 12 global gaming equipment manufacturers tracked by the index reported month-on-month increases in stock price. Ten manufacturers reported decreases in stock price during the month, with one manufacturer posting a double-digit percentage decline, according to AGEM’s release.

Galaxy Gaming Inc – a manufacturer of casino table game products with shares traded in the United States – saw its stock price decline 11.5 percent month-on-month.

Selected negative contributors during the month of February included: U.S.-listed International Game Technology Plc reported an 8.84 percent decrease in stock price and contributed 7.17 points for the overall index decrease; Japan’s Konami Corp contributed a negative 7.93 points to the overall index, with its stock price down by 9.46 percent in February.

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.