GGRAsia – AGEM Index up 8.3pct, among the highest growth recorded

AGEM Index up 8.3pct, among the highest growth recorded

Dec 05, 2024 Newsdesk Industry Talk, Latest News

The AGEM Index, a measure of the stock prices of a range of casino technology suppliers, increased by 126.17 points to 1,644.36 in November, an 8.3 percent increase from the prior month. Compared to one year ago, the index climbed 51.0 percent.

During the latest month, nine of the 12 AGEM Index companies reported stock price increases, with three negative contributions to the index, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contributor to the monthly index was Australia-listed slot machine specialist and online content provider Aristocrat Leisure Ltd, which saw its stock price increase by 10.1 percent compared to October, leading to a 60.87-point gain for the index.

Agilysys Inc, a maker of business software for the hospitality sector, saw its stock price increase by 34.3 percent, leading to a 31.06-point gain for the index.

The largest negative contribution to the index was sourced to gaming supplier International Game Technology Plc, whose 5.4-percent month-on-month decrease in stock price resulted in a 5.03-point loss to the AGEM Index.

According to the publisher, the AGEM Index’s monthly growth was “among the highest recorded”.

Since the inception of the index in 2005, November’s 126.17-point gain “ranked third highest for any month,” it added.

AGEM said November “continued what has been a year of high performance” for the index. “Through the first 11 months of the year, four months have ranked among the 10 largest monthly growth periods in index history, including the second-best monthly growth in May,” the organisation stated.

In November, all three major U.S. stock indices increased from the prior period. The Nasdaq grew by 5.1 percent over the month, while the S&P 500 rose by 4.8 percent. The Dow Jones Industrial Average increased by 6.7 percent from the prior month.

AGEM represents manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry.

The association began compiling data for the index in January 2005 using a base of 100 points. The stocks that constitute the AGEM Index are weighted by approximate market capitalisation.