The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – reached another new high of 1,077.92 points in October, driven by strong stock price growth from IGT and an increase in outstanding shares issues by Australian slot machine giant Aristocrat.
Although Aristocrat’s stock declined by 0.6% for the month, the issue of new shares as part of an equity raising scheme – part of the company’s efforts to acquire online platform provider Playtech for US$2.9 billion – saw it add 15.06 points to the index.
IGT added 13.82 points thanks to a 12.0% increase in its stock price in October, while Scientific Games suffered a 3.6% fall in stock price, leading to a 5.32-point decrease in its AGEM Index contribution
Compared to one year ago, the AGEM Index has more than doubled from 495.31 point for an annual growth rate of 117.6%, according to the Association of Gaming Equipment Manufacturers.
In the latest period, seven AGEM Index companies reported increases in stock price in October with four recording negative contributions and one seeing no change from September.
All three major US stock indices increased over the month, with the NASDAQ and the S&P 500 growing by 7.5% and 6.9% respectively. The Dow Jones Industrial Average experienced a 5.9% increase.
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