GGRAsia – Konami, Aristocrat stocks help lift AGEM Index in May

Konami, Aristocrat stocks help lift AGEM Index in May

Jun 06, 2022 Newsdesk Industry Talk, Latest News

The AGEM Index for May rose to 883.10 points, 2.4 percent higher on the prior month, showed a written statement released on Friday. However, the Association of Gaming Equipment Manufacturers (AGEM) said the index of prices of shares in major listed makers of gaming equipment was 9.9 percent lower than a year earlier.

Among the stock prices of 12 makers of gaming equipment around the world that the AGEM Index tracks, six of them saw monthly gains while the other six moved negatively.

AGEM produces the monthly AGEM Index in association with research firm Applied Analysis LLC.

The largest positive contributor to the monthly index was Japan’s Konami Corp, as a result of a 9.5 percent increase in its stock price in May. Konami’s performance was responsible for an 18.99-point gain to the AGEM Index.

Australia-based Aristocrat Leisure Ltd contributed a 6.23-point gain to the index with a 0.4 percent increase in the company’s stock price coupled with a strengthened exchange rate between the United States dollar and the Australian dollar.

The largest negative contribution to the index was from U.S.-listed Light & Wonder Inc, preciously known as Scientific Games Corp. Its 5.8 percent decline in stock price in May equated to a 5.78-point loss in the overall index.

In May, the Dow Jones Industrial Average and the S&P 500 experienced modest monthly gains of 0.04 percent and 0.01 percent, respectively. Another major U.S. stock index, the Nasdaq, recorded a decline of 2.1 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.