GGRAsia – IGT, Konami stocks help lift AGEM index in Sept

IGT, Konami stocks help lift AGEM index in Sept

Oct 08, 2019 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index for September rose to 500.69 points, 5.8 percent higher on the prior month, showed a written statement released on Tuesday. The Association of Gaming Equipment Manufacturers (AGEM) said the index of prices of shares in major listed makers of gaming equipment was 1.6 percent higher than a year earlier.

Among the stock prices of 13 makers of gaming equipment around the world that the AGEM Index tracks, 10 of them saw monthly gain while three moved negatively. AGEM produces the monthly AGEM Index, in association with research firm Applied Analysis LLC.

AGEM said the September index growth was largely driven by an 18.6 percent increase in the stock price of New York-listed International Game Technology Plc (IGT). IGT’s stock was responsible for 8.14 points of the AGEM Index’s monthly increase, it added.

Other shares that rose notably last month included Tokyo-listed manufacturer Konami Corp, which increased 8.4 percent in price and led to an index contribution of 6.50 points, and Scientific Games Corp, which gained 10.1 percent in price and contributed 2.89 points to the index’s September gain.

In September, the Dow Jones Industrial Average and the S&P 500 experienced monthly growth of 2.0 percent and 1.7 percent, respectively. The Nasdaq index had a modest gain of 0.5 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.