GGRAsia – Software firm Agilysys only plus for June AGEM Index

Software firm Agilysys only plus for June AGEM Index

Jul 21, 2022 Newsdesk Industry Talk, Latest News

June’s AGEM Index fell by 71.71 points to 811.39, an 8.1 percent decline from the previous month. Its producer, the Association of Gaming Equipment Manufacturers (AGEM), said that year-on-year in June, the index was down 183.98 points, or 18.5 percent.

During the latest reporting month, 10 of the 12 AGEM Index companies reported stock price declines, and all but one company posted negative contributions to the AGEM Index.

The sole positive June input was from Agilysys Inc, a maker of business software for the hospitality sector. It added 4.05 points to the index as a result of a 15.7 percent increase in its stock price.

The largest negative contributor to the index was Japan’s Konami Group Corp – parent of casino equipment maker Konami Gaming Inc. The parent’s 14.7 percent decline in stock price resulted in a 31.61-point fall to the index.

Gaming supplier International Game Technology Plc saw its stock price fall 13.4 percent, resulting in an 11.13-point loss to the index.

All three major U.S. stock indices saw month-on-month and year-on-year losses in June. The Nasdaq fell by 8.7 percent from May, while the S&P 500 fell by 8.4 percent. The Dow Jones Industrial Average saw a 6.7 percent decline over the 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.