GGRAsia – AGEM Index up 3.8 pct m-o-m in August

AGEM Index up 3.8 pct m-o-m in August

Sep 10, 2014 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index rebounded in August after reporting a 0.9-percent month-to-month decline in July. The composite index ended August at 190.58 points, which represents a gain of 6.97 points, or 3.8 percent, when set against the prior period.

Compared to a year ago, the AGEM Index was up 5.7 percent, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which jointly compile the index.

In August, seven of the 17 global gaming equipment manufacturers tracked by the index reported monthly increases in stock price, with four witnessing substantial gains of more than 15 percent – Bally Technologies Inc (+31.78%), Daktronics Inc (18.56%), Multimedia Games Holding Co Inc (15.30%) and Scientific Games Corp (18.85%).

Of the 10 manufacturers that reported a decline in stock price, two were down by more than 10 percent, namely Ainsworth Game Technology Ltd (-10.88%) and Transact Technologies Inc (-13.54%).

Broader stock markets reported similar month-to-month growth to the AGEM Index in August, with the Dow Jones Industrial Average, S&P 500 and NASDAQ all posting month-on-month increase above three 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 as of January 2005.

Of the 17 gaming suppliers included in the index, 12 are listed in the United States, while two trade on the Australian exchange, one supplier trades on the Athens exchange, one trades on the Milan exchange and another trades on the Taiwan OTC exchange.