GGRAsia – May AGEM Index rises 1.4pct on Aristocrat, Konami strength

May AGEM Index rises 1.4pct on Aristocrat, Konami strength

Jun 10, 2019 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index of the share prices of leading casino equipment makers rose to 483 points in May, 6.65 points or 1.4 percent higher than the month before, the Association of Gaming Equipment Manufacturers (AGEM) says.

AGEM issued a written announcement saying that the index was 12.8 percent lower last month compared to the same time last year.

Among the stocks that the index tracks, the prices of five rose in May and the prices of eight fell.

Notable among the stocks that gained in price were shares in Aristocrat Leisure Ltd of Australia, which rose by 11.7 percent, adding 19.81 points to the index, and shares in Konami Corp of Japan, which rose by 1.2 percent and added 4.07 points to the index.

The AGEM Index outperformed the main gauges of stock prices at exchanges in the United States, all of which fell in May – the Dow Jones Industrial Average by 6.7 percent, the S&P 500 index by 6.6 percent and the Nasdaq index by 7.9 percent.

The AGEM Index tracks the prices of nine stocks traded in the U.S., two traded in Australia, one traded in Japan and one traded in Taiwan.

The index used to track the price of another stock, Gaming Partners International Corp, but the shares were delisted from the Nasdaq exchange in May after the company was taken private.

The AGEM Index is compiled by Applied Analysis LLC. The index is a gauge of the prices of each component stock at the end of each month, adjusted for dividends and splits, and weighted according to approximate market capitalisation. The base value of the index is 100 points, set in January 2005.

AGEM represents manufacturers around the world of electronic gaming devices, systems, lotteries, and components for the gaming industry.