GGRAsia – Aristocrat, Crane drag down August’s AGEM Index

Aristocrat, Crane drag down August’s AGEM Index

Sep 06, 2019 Newsdesk Latest News, Top of the deck, World

The AGEM Index for August fell to 473.36 points, 4.4 percent down on the prior month, showed a written statement released on Thursday. The Association of Gaming Equipment Manufacturers (AGEM) says the index of prices of shares in makers of gaming equipment was 9.2 percent lower than a year earlier.

Among the stock prices of 13 makers of gaming equipment around the world that the AGEM Index tracks, nine fell last month and four increased. AGEM produces the monthly AGEM Index, in association with research firm Applied Analysis LLC.

AGEM said the August decline was “driven largely” by a 2.9 percent decrease in the stock price of Australian slot-machine maker Aristocrat Leisure Ltd. Aristocrat Leisure’s stock was responsible for 9.62 points of the AGEM Index’s monthly decrease, it added.

Other shares that fell notably last month included United States-based manufacturer Crane Co, which lost 8.9 percent and took 6.77 points from the index, and International Game Technology Plc, which lost 10.3 percent in price and removed 4.16 points from the index.

The Dow Jones Industrial Average and the S&P 500 experienced monthly declines of 1.7 percent and 1.8 percent, respectively. The Nasdaq index also did not have a strong month, decreasing by 2.6 percent.

The AGEM Index has seen choppy growth over the past few months, indicating fluctuating prices in the shares of the world’s biggest makers of gaming equipment.

AGEM represents the 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.