GGRAsia – IGT, Crane and Konami boost AGEM Index in Oct

IGT, Crane and Konami boost AGEM Index in Oct

Nov 09, 2016 Newsdesk Industry Talk, Latest News

The AGEM Index, which tracks the stock performance of the world’s major listed casino gaming equipment suppliers, posted a 4.9-percent month-on-month increase in October.

The composite index increased by 15.05 points from September, to end October at 321.90 points.

The AGEM Index also reported a year-on-year increase for the 13th consecutive month, rising 124.68 points, or 63.2 percent, when compared to October 2015.

Last month, six of the 13 global gaming equipment manufacturers tracked by the index reported monthly gains in stock price, with three up by more than 10 percent. U.S.-based International Game Technology Plc reported a share price increase of 17.8 percent in October, contributing 12.51 points to the index’s overall 15.05-point increase.

Payments technology specialist Crane Co reported a share price increase of 7.9 percent, while large-cap Japan-listed Konami Corp posted a 6.4 percent increase for the period.

In the opposite direction, Australia-based slot machine maker Aristocrat Leisure Ltd saw its share price decline by nearly 3 percent in October. Australian slot machine maker Ainsworth Game Technology Ltd also recorded a share price loss of almost 20.9 percent for the period.

The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index, in association with research firm Applied Analysis LLC.

The 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.