Konami, Aristocrat stocks lead AGEM Index gain in August

Sep 06, 2024 Newsdesk Industry Talk, Latest News  

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The AGEM Index, a measure of the stock prices of a range of casino technology suppliers, increased by 78.77 points to 1,502.26 in August, a 5.5 percent increase from the prior month. Compared to one year ago, the index climbed 35.7 percent.

During the latest month, seven of the 12 AGEM Index companies reported stock price increases, with five negative contributions to the index, said its publisher, the Association of Gaming Equipment Manufacturers (AGEM).

The largest positive contributor to the monthly index was Japan’s Konami Group Corp, which via its Konami Gaming Inc and Konami Australia Pty Ltd units supplies casino slot machines and floor management systems. Konami Group’s 15.2 percent increase in stock price led to a 53.47-point gain for the index.

Australia-listed slot machine specialist and online content provider Aristocrat Leisure Ltd saw its stock price increase by 0.9 percent, leading to a 29.16-point gain for the index.

The largest negative contribution to the index was sourced to New York Stock Exchange-listed Crane NXT Co. Its 6.6 percent decrease in stock price resulted in a 5.37-point loss to the AGEM Index.

In August, all three major U.S. stock indices increased from the prior period. The Nasdaq grew by 3.3 percent over the month, while the S&P 500 rose by 4.1 percent. The Dow Jones Industrial Average increased by 3.5 percent from the prior 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.

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