AGEM Index up 8pct m-o-m in February

Mar 07, 2024 Newsdesk Industry Talk, Latest News  

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The AGEM Index, a measure of the stock prices of a range of casino technology suppliers, increased by 93.00 points to 1,261.10 in February, an 8.0 percent increase from the prior month, according to a Wednesday written statement. Compared to one year ago, the index was up 310.19 points, or 32.6 percent.

During the latest month, eight of the 12 AGEM Index companies reported stock price increases, with only “four negative contributions” to the AGEM Index, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contributor to the monthly index was gaming equipment and content provider Light & Wonder Inc, whose 25.0 percent increase in stock price led to a 52.52-point gain for the index.

Australia-listed slot machine maker and gaming content provider Aristocrat Leisure Ltd saw its stock price increase by 5.1 percent, leading to a 17.69-point gain for the index.

The largest negative contribution to the index was sourced to Nasdaq-listed Agilysys Inc, a maker of business software for the hospitality sector, whose 7.1 percent decrease in stock price resulted in a 3.48-point loss to the AGEM Index

All three major U.S. stock indices increased in February, which marked the fourth consecutive month of growth across the board. The S&P 500 rose by 5.1 percent over the month, while the Dow Jones Industrial Average grew by 2.2 percent month-on-month. The Nasdaq increased by 6.1 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.

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