The AGEM Index slipped 5.7 percent month-on-month in August, with the composite index falling 11.45 points from July to 190.45 at the end of August. The index, which tracks stock prices of listed firms in the casino equipment supply sector, has declined for four months since the start of 2015.
Compared to a year ago, the composite index was relatively flat, falling 0.13 points, or 0.1 percent, year-on-year.
The decline is largely attributable “to broader market trends in late August,” said the Association of Gaming Equipment Manufacturers (AGEM). It compiles the index in association with research firm Applied Analysis LLC.
The stock markets where the gaming suppliers are listed reported declines in August “largely due to international economic concerns,” AGEM said.
In August, eight of the 13 global gaming equipment manufacturers reported a decline in their stock price compared to July. Additionally, five manufacturers reported a stock price decline of more than 10 percent, with three down by more than 20 percent, according to the latest report.
Due to a 14.2-percent decline in stock price month-on-month to US$16.98, IGT Plc contributed negatively to the AGEM index, wiping off 6.00 points. Scientific Games Corp contributed a negative 3.20 points, due to a 27.0-percent decline in its stock price to US$11.02 in August.
Of the five manufacturers that reported gains in stock price during the month, all but one were up by fewer than 3 percent.
Konami Corp contributed 2.69 points in August, due to a 2.9-percent increase in stock price. Global Cash Access – which on August 24 rebranded itself Everi Holdings Inc – reported a stock price of US$5.17, up 2.4 percent month-on-month.
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.
AGEM is a non-profit international trade association representing manufacturers and suppliers of electronic gaming devices, systems, table games, online technology, key components and support products and services for the gaming industry.
In August, Japan-based Sega Sammy Creation Inc and Taiwan’s Axiomtek Co Ltd joined the trade association, along with eight other new member companies from Europe and the United States, bringing AGEM’s membership to a total of 147 firms based in 21 countries.
Sep 23, 2021Philippine leader President Rodrigo Duterte (pictured in a file photo), has signed into law a measure imposing additional taxes relating to the operation of Philippine Offshore Gaming Operators...
“The opening of NagaWorld is aligned to the government’s plan to gradually reopen the economy”
Chairman of NagaCorp, which operates the NagaWorld casino resort in the Cambodian capital Phnom Penh