The Association of Gaming Equipment Manufacturers (AGEM) Index was up 27.33 points over September 2019, to 500.69 points, driven largely by an 18.6 percent increase in the stock price of the NYSE-listed International Game Technology PLC (IGT), which saw its share price increase from $11.98 to $14.21. The stock was responsible for 8.14 points of the AGEM Index’s monthly gain. The index’ overall increase represents a 5.8% jump from August 2019.
The AGEM Index is produced monthly for the organization by the Las Vegas-based Applied Analysis, an advisory services firm that provides consultation services for public and private entities in economics, information technology and finance.
Konami Corp. experienced an 8.4 percent stock price gain from ¥4,815 to ¥5,220 on the Tokyo exchange, which led to an index contribution of 6.50 points.
The majority of companies listed in the Index reported increases in stock price during the month, with 10 trending positively and three moving negatively.
The NYSE-traded Crane Co., an industrial holding company based in Connecticut, saw its share price increase to $80.63 from $76.24 in September, an increase of 5.8%. Scientific Games was up 10.1% in trading on the NASDAQ, from $18.48 to $20.63, while multinational game developer Inspired Entertainment, which recently acquired Novomatic UK’s Gaming Technology Group, rose 2.9% in trading on the same index, increasing from $6.99 to $7.19 per share.
Losses were absorbed by Everi Holdings, which lost 5.4% of its value in trading on the New York Stock Exchange, dropping from $8.94 to $8.46, and by the Taiwan-listed Astro Corp., which fell to NT$15.30 from NT$17.65.
The major stock indices also performed well during September: the Dow Jones Industrial Average and the S&P 500 experienced monthly growth of 2.0 percent and 1.7 percent, respectively. The NASDAQ experienced a modest gain of 0.5 percent.
The complete Index is available at http://www.agemindex.com/
