GGRAsia – May gain for AGEM Index, but growth rate slows

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May gain for AGEM Index, but growth rate slows

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

May gain for AGEM Index, but growth rate slows

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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