GGRAsia – July AGEM Index rebounds 6pct m-o-m, still down y-o-y

July AGEM Index rebounds 6pct m-o-m, still down y-o-y

Aug 08, 2022 Newsdesk Industry Talk, Latest News

The AGEM Index rose by 51.54 points in July, to 862.93, rebounding 6.4 percent from the previous month.

Its producer, the Association of Gaming Equipment Manufacturers (AGEM), said nonetheless that year-on-year in July, the index was down 62.39 points, or 6.7 percent.

During the month, 10 of the 12 AGEM Index companies reported stock price increases.

The largest positive contributor to the monthly index was Crane Co, a producer of technology including cash-handling equipment from casinos, and which reported a 13.76-point gain to the index as a result of a 13.0-percent month-on-month increase in its stock price.

Slot machine maker Aristocrat Leisure Ltd contributed an 11.60-point gain to the index due to a 2.7-percent month-on-month increase in its stock price.

The largest negative contribution to the index was sourced to PlayAGS Inc, whose 8.1 percent decline in stock price equated to a 0.27-point loss for the AGEM Index.

All three major U.S. stock indices saw month-over-month increases in July 2022 after slipping across the board in the previous month. The Nasdaq rose by 12.3 percent from June, while the S&P 500 rose by 9.1 percent. Meanwhile, the Dow Jones Industrial Average grew 6.7 percent over 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.