May gain for AGEM Index, but growth rate slows

Jun 05, 2020 Newsdesk Industry Talk, Latest News, World  

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The AGEM Index for stocks of major casino equipment suppliers increased by 26.84 points in May to 402.89 points, a 7.1-percent gain from April. Judged year-on-year, May’s result was down 16.6 percent.

Ten of the 13 AGEM Index companies reported stock price month-on-month increases in May “as global markets continued to rebound from the Covid-19 pandemic,” said the Association of Gaming Equipment Manufacturers (AGEM), which issues the indicator.

April’s index had seen a 20.3 percent gain from March. The latter month had seen the start of a series of casino closures around the world in order to try to limit the further spread of the Covid-19 pandemic.

For May, the stock price for Konami Holdings Corp increased by 11.2 percent month-on-month, accounting for a 7.95-point improvement in the AGEM Index. But judged year-on-year, Konami’s stock was down 26.1 percent.

Scientific Games Corp saw a 24.7-percent stock price jump month-on-month that led to an index contribution of 5.87 points. The firm’s share price was down 17.6 percent judged year-on-year.

During May, “all three major U.S. stock indices increased, as the Dow Jones Industrial Average and the S&P 500 grew by 4.3 percent and 4.5 percent, respectively,” noted the gaming sector trade body. The Nasdaq “experienced a gain of 6.8 percent,” in the period, it added.

The AGEM Index is produced in association with Applied Analysis LLC, a Nevada, U.S.-based research firm.

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