AGEM Index up 5 pct in July
The AGEM Index was up 5 percent month-on-month in July, with the composite index increasing 9.62 points from June to 201.90 at the end of July. The increase follows two consecutive month-on-month declines. The index, which tracks stock prices of listed firms in the casino equipment supply sector, fell by 2.4 percent in June.
The index reported even bigger gains when compared to a year earlier, rising 18.29 points, or 10 percent from July 2014, said the Association of Gaming Equipment Manufacturers (AGEM) and research firm Applied Analysis LLC, which jointly compile the index.
Last month was the fifth consecutive month of year-on-year gains, according to the report released on Monday.
In July, six of the 13 global gaming equipment manufacturers reported month-on-month increases in stock price, with each reporting gains of more than 10 percent. IGT Plc reported an 11.5-percent gain month-on-month in stock price in July, contributing 5.01 points to the index, said the report.
Australia-based slot machine maker Aristocrat Leisure Ltd saw its share price increase by 12 percent in July, while Konami Corp contributed 3.60 points to the index, due to a 13.7-percent gain in stock price.
Of the six manufacturers that reported declines in stock price, three were down by more than 5 percent, with U.S.-based Global Cash Access Holdings Inc falling nearly 35 percent, according to the report. Crane Co, a supplier of payment and merchandising technology to the gaming industry, witnessed a 9.4-percent decline in stock price in July.
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.
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