AGEM Index reveals positive September results
The latest monthly investigation from the Association of Gaming Equipment Manufacturers (AGEM) into the stock performance of major listed casino equipment suppliers has reportedly revealed that the overall sector chalked up a 24th consecutive increase for September.
According to a report from GGRAsia, the group’s AGEM Index report for last month showed that the composite index had risen by 6.08% when compared with August to 457.91 points, which was also some 49.23% above the comparable 30-day period in 2016.
AGEM is a non-profit international trade association that represents some of the world’s most prominent electronic gaming machine manufacturers and suppliers. It reportedly bases its AGEM Index study on a 100-point value recorded in January of 2005 and subsequently calculates current performance utilizing the month-end stock prices of firms weighted on an approximation of market capitalization after making adjustments for individual dividends and splits.
The AGEM Index report for September, which was prepared in partnership with research firm Applied Analysis LLC, reportedly explained that half of the twelve listed casino equipment suppliers covered had experienced month-on-month improvements in their stock prices with four of these detailing double-digit swells.
After experiencing a 5% decline month-on-month in August, Nasdaq-listed Scientific Games Corporation recovered to contribute some 16.49 points to the AGEM Index last month due to a 30.26% increase in its stock price to $45.85. Similarly, London-based International Game Technology (IGT) purportedly added 13.53 points courtesy of a 20.52% rise in the individual value of its stocks to $24.55.
However, September was not a good month for all of the firms covered as four reportedly saw the price of their stocks drop by single-digit percentages month-on-month alongside two which had experienced no change.
Of these, GGRAsia reported that Tokyo-headquartered Konami Holdings Corporation was one of the biggest losers as it had subtracted 6.75 points from the September AGEM Index due to a 5.58% drop in the value of its shares to $48.01. Likewise, Sydney-listed Aristocrat Leisure Limited experienced a 0.8% decline to $16.36 with its contribution amounting to a negative 2.27 points.