The AGEM Index, which tracks the stock prices of listed firms in the casino equipment supply sector, recorded in March a fall of 8.32 points, or 1.62 percent judged month-on-month, to 505.15 points. The sequential decline was narrower than that in February, when the index fell by nearly 5 percent compared to the prior month.
According to a press release issued on Monday, March’s AGEM Index result still represented the 30th consecutive month of year-on-year growth. The index has risen by 134.87 points or 36.87 percent since March 2017.
During the March 2018 reporting period, seven of the 13 global gaming equipment manufacturers tracked by the index reported month-on-month increases in stock price. There were six manufacturers that saw their stock prices declined during the month, with one manufacturer recording a double-digit percentage decline, according to the AGEM press release.
The document added that the March performance of the AGEM Index “paralleled the three major stock market indexes”, namely the S&P 500, the Dow Jones Industrial Average and the Nasdaq.
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.
Everi Holdings Inc, a U.S.-based specialist in cash handling technology and electronic game content for the casino industry, saw its stock price drop by 11.81 percent month-on-month.
Selected negative contributors during the month of March included Australia-listed Aristocrat Leisure Ltd which had a 2.39 percent decline in its stock price and contributed a negative 5.80 points for the overall index decrease. U.S.-based Scientific Games Corp contributed a negative 3.43 points to the overall index, with its stock price down by 6.41 percent in March.
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.
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"If the [Macau casino] concessions are put up for bid, there will also be a lot of giant Chinese companies, some having nothing to do with gaming, which would like to take over these enormously successful casinos”
Professor emeritus at Whittier Law School in California, in the United States, and a visiting professor at University of Macau