GGRAsia – IGT, Sci Games drag down AGEM Index 2.4 pct in March

IGT, Sci Games drag down AGEM Index 2.4 pct in March

Apr 10, 2019 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index of the prices of shares in important suppliers of gaming equipment around the world fell by 11.27 points to 452.46 points in March, 2.43 percent less than the month before. In year-on-year terms, the index has fallen 10.5 percent.

The index is compiled every month for the Association of Gaming Equipment Manufacturers (AGEM).

The AGEM Index tracks the prices of the stocks of 13 suppliers of gaming equipment, 10 of them traded in the United States, two in Australia, and one each in Japan and Taiwan.

Notable among the shares that drove the index down in March was International Game Technology Plc (IGT) stock, which lost 24.70 percent of its value in trading at the New York Stock Exchange, the price falling to US$12.99 from US$17.25 and subtracting 10.37 points from the index.

Scientific Games Corp stock lost 29.73 percent of its value in trading at the NASDAQ, the price falling to US$20.42 from US$29.06 and subtracting 8.87 points from the index.

The main gauges of stock prices in the United States all outperformed the AGEM Index in March, the Dow Jones Industrial Average rising by under 0.1 percent, the S&P 500 index rising by 1.8 percent and the NASDAQ index rising by 2.6 percent.

The AGEM Index tracks the prices of each of its component stocks at the end of each month, adjusted for dividends and splits, each stock being weighted roughly according to market capitalisation. The base of the index, set in January 2005, is 100 points.

AGEM is an international trade association representing makers of electronic gaming devices, systems, lotteries, and components for the gaming industry. The association works to further the interests of makers of gaming equipment all over the world.