GGRAsia – Aristocrat, Sci Games stocks boost AGEM Oct index

Aristocrat, Sci Games stocks boost AGEM Oct index

Nov 07, 2019 Newsdesk Industry Talk, Latest News

The AGEM Index for October rose to 507.64 points, 1.4 percent up on the prior month, showed a written statement released on Wednesday. The Association of Gaming Equipment Manufacturers (AGEM) said the index of stock prices for major publicly-listed makers of gaming equipment was 12.3 percent higher than a year earlier.

Of the 13 gaming-equipment supplier stocks around the world tracked by the AGEM Index, seven saw year-on-year gains in October and six saw year-on-year declines. Judged month-on-month, i.e., from September to October, nine firms saw a positive trend in stock performance, and four experienced a negative trend.

AGEM produces the monthly AGEM Index, in association with research firm Applied Analysis LLC.

AGEM said October’s index growth was largely driven by a 3.3 percent month-on-month increase in the stock price of Australia-listed Aristocrat Leisure Ltd. Aristocrat’s stock was responsible for 12.18 points of the AGEM Index’s monthly increase, it added.

Other shares that rose notably last month included Scientific Games Corp, which gained 17.9 percent in price month-on-month and contributed 6.32 points to the index’s October gain.

In October, the Dow Jones Industrial Average and the S&P 500 experienced sequential monthly growth of 0.5 percent and 2.0 percent, respectively. The Nasdaq index had a gain of 3.7 percent in the 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.