GGRAsia – Sci Games, Astro help AGEM Index February rebound

Sci Games, Astro help AGEM Index February rebound

Mar 11, 2016 Newsdesk Industry Talk, Latest News, Top of the deck

The AGEM Index, which tracks the stock performance of the world’s major listed casino gaming equipment suppliers, rose 8.54 points, or 4.5 percent, in February judged month-on-month.

The index had declined by 8.86 points in January, or nearly 4.5 percent, when compared to December 2015.

In February, eight of the 14 global gaming equipment manufacturers tracked by the index reported month-on-month gains in stock price, with the share price of Astro Corp and Galaxy Gaming Inc up by more than 50 percent. Astro is a Taiwanese slot-machine maker: Galaxy Gaming is a manufacturer of casino table game products with shares traded in the United States.

The stock price of Scientific Games Corp – a lottery services and electronic casino games supplier – rose by almost 44 percent in February measured in month-on-month terms. The firm announced last month its fourth quarter 2015 revenue rose to US$737 million, up by 30.3 percent from US$565.8 million in the prior-year period.

The AGEM Index reported a year-on-year increase for the fifth consecutive month, rising 4.29 points, or 2.2 percent, when compared to February 2015.

The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index, in association with research firm Applied Analysis LLC. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalisation. It is based on a 100-point value recorded as of January 2005.

AGEM is a non-profit international trade association representing manufacturers and suppliers of electronic gaming devices, systems, table games, online technology, key components, and support products and services for the gaming industry.