GGRAsia – AGEM Index up 14 pct in March boosted by Konami, IGT

AGEM Index up 14 pct in March boosted by Konami, IGT

Apr 08, 2016 Newsdesk Industry Talk, Latest News

The AGEM Index, which tracks the stock performance of the world’s major listed casino gaming equipment suppliers, posted a 13.9-percent month-on-month increase in March.

The composite index increased by 27.35 points from February, to end March at 224.35 points.

During last month, 10 of the 14 global gaming equipment manufacturers tracked by the index reported month-on-month gains in stock price, with six up by more than 10 percent. Taiwanese slot-machine maker Astro Corp led the gains: its share price was up 33.4 percent in March.

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.

Several gaming suppliers posted month-on-month stock price increases of over 20 percent in March, including large-cap Japan-listed Konami Corp (+21.6 percent) and U.S.-based International Game Technology Plc (+23.5 percent). Each contributed with about 9 points for the index’s overall 27.35-point increase.

The AGEM Index reported a year-on-year increase for the sixth consecutive month, rising by 34.07 points, or 17.9 percent, when compared to March 2015.

AGEM stated that the March stock performance of several companies tracked by the index was impacted by the respective release of their financial results for the period ending December 31, 2015. These suggested “mixed results for key players in the industry,” stated the association.

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.