AGEM Index drops 11% in Sept., dragged by Aristocrat
The Association of Gaming Equipment Manufacturers’ (AGEM) monthly index dropped 11 percent from the prior month in September, with the biggest drag coming from Aristocrat Leisure.
The AGEM Index was down by 91.73 points to 739.77. Compared with the same month a year ago, the index was off by 29.3 percent.
The index is made up of 12 global gaming suppliers. A total of nine suppliers are based in the United States and are listed on the NYSE, Nasdaq or OTC market, while two trade on the Australian exchange and one on the Tokyo exchange.
In the month, 11 of the 12 index companies saw their share prices decline. The biggest negative contribution came from Aristocrat, whose 7.8 percent decline in price knocked 44.19 points off the index.
Konami Corp contributed a 13.67-point decline in the index due to a 5.7 percent decrease in its stock price. The lone positive contribution to the index was Agilysys, whose 6.9 percent increase in stock price resulted in a 2.22-point gain for the AGEM Index.
The declines in the AGEM Index came alongside a drop in the overall market. All three major U.S. stock indices dropped for the second consecutive month.
The Dow Jones Industrial Average fell by 8.8 percent from August, while the S&P 500 declined by 9.3 percent. Meanwhile, the NASDAQ fell 10.5 percent over the latest percent.
Slowing global economies, coupled with rising interest rates to contain inflation are taking their toll.
THE 300 SPARTANS:
After triumphing in key locations across Asia and Europe, AGS is flying 300 top affiliates to Malta, for an all inclusive deluxe trip. The event will happen alongside SiGMA, 14-18th November, during SiGMA Europe.
Read more about the 300 Spartans here.
