Stock values of the major gaming equipment have shown healthy increases in the last 12 months, according to this month’s AGEM Index.
Nine of the 13 companies tracked by Las Vegas-based financial advisor Applied Analysis for the Association of Gaming Equipment Manufacturers have seen their stock prices shoot up over the last 12 months. None was higher than Scientific Games Corp., which has seen its shares – traded on the Nasdaq National Market, shoot up 155.6 percent in values since May 2017.
Shares of International Game Technology are up more 43.5 percent on the New York Stock Exchange during the past year while Australian-based Aristocrat Technologies has seen its stock price climb 37.8 percent on the Australian Exchange over the same timeframe.
Smaller companies also reported increases. Galaxy Gaming, which was licensed in Nevada last year following a management shake-up, saw its stock price on the Over-the-Counter market jump 82 percent in value.
In May, the composite index, which covers the monthly stock prices of the worldwide gaming equipment providers, grew 4.28 percent, the 32nd consecutive monthly increase.
During the month, seven of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price.
Agylisys, which is traded on the Nasdaq, reported the highest single-month increase in May – more than 20 percent. During the month, the Georgia-based company, which provides management software for the gaming, hospitality and restaurant industries, said it grew profits by 1 percent for fiscal 2018.
The results for Agylisys was attributable to a nearly $1 million $950,000 decrease in the company’s cost of goods sold. In the fiscal year, the company achieved a gross profit margin of 50.6 percent, up from 50.0 percent in the prior year.
TransAct Technologies, also traded on the Nasdaq, saw it average daily stock price decline 11 percent in May. However, over the last 12 months, the Connecticut-based company that provides printers, terminals, software used for cashless gaming in casinos, has seen its stock value climb almost 27 percent.
In May, the company reached an agreement with Asia Pioneer Entertainment Limited to distribute TransAct’s ticket-in, ticket-out printers in Macau, the Philippines, Taiwan and China.
The Index covers eight suppliers in the United States that are listed on the New York Stock Exchange, the Nasdaq National Market and the U.S. over-the-counter market. Two of the suppliers are traded on the Australian Exchange, and one each are traded on the Tokyo Exchange and the Taiwan over-the-counter Market.
Howard Stutz is the executive editor of CDC Gaming Reports. He can be reached at hstutz@cdcgamingreports.com. Follow @howardstutz on Twitter.
