AGEM Index reaches record high in May

AGEM Index reaches record high in May

Wednesday, June 7, 2017 Posted by James Walker
The AGEM Index has now reported a year-over-year increase for the 20th consecutive month

The AGEM Index, which tracks the stock performance of listed firms in the casino equipment supply sector, reached another record high in May, continuing the momentum from previous months.

The composite index, which is prepared by Nevada-based Applied Analysis on behalf of the Association of Gaming Equipment Manufacturers, stood at 390.18 points at the close of May 2017, which represents an increase of 18.68 points, or 5%, when compared to April 2017.

The AGEM Index has now reported a year-over-year increase for the 20th consecutive month, rising 134.84 points, or 52.8%, when compared to May 2016.

During the latest period, seven of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price, with four up by more than 10%.

Six manufacturers reported decreases in stock price during the month, with three posting double-digit declines.

Selected positive contributors to the May 2017 AGEM Index included Konami Corporation, which contributed 15.53 points due to a 17.37% increase in stock price.

Aristocrat Technologies reported an 11% increase in stock price, while Ainsworth Gaming Technology saw its pricing rise by 18.82% during the period.

The broader stock markets produced positive results in May. The S&P 500 reported a month-to-month increase, rising 1.2% to 2,411.80. Additionally, the Dow Jones Industrial Average increased 0.8% to 21,110.27, while the NASDAQ increased 3.1% during the period to 6,232.45.

AGEM executive director Marcus Prater told “I continue to be impressed by the prospects for domestic and international gaming sales and expansion and the overall impact on the gaming equipment manufacturing segment.

“With key players in the space posting strong financial results and double-digit gains in their stock price, Wall Street has also taken notice.”

Totally Gaming says: Last month’s record high AGEM Index marked the 20th consecutive month of growth for the world’s leading casino supply firms. With these gains being mirrored in major gaming territories such as Macau and Las Vegas, suppliers are on track to enjoy continued success throughout the remainder of 2017.

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