The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – decreased by 1.5% or 14.54 points to 956.98 points in May, despite strong gains by Konami and Crane NXT.
The index was, however, 8.4% or 73.87 points higher compared with the same month in 2022 as six of the 12 AGEM Index companies reported stock price increases. Five reported declines while one stayed flat compared with April.
The Association of Gaming Equipment Manufacturers (AGEM), which compiles the index, said the largest positive contributor to the index in May was Konami, whose 10.5% increase in stock price led to a 14.08-point gain.
Crane NXT, which was recently spun-off from US technology firm Crane Co, saw its stock price increase by 11.1%, leading to an 8.02-point gain for the index. Crane NXT’s businesses include currency validation firm Crane Payment Innovations (CPI), which provides payment technology to the global gaming industry.
According to AGEM, the largest negative contribution to the index in May was from IGT, whose 12.8% decrease in stock price resulted in a 15.20-point loss for the AGEM Index.
The three major U.S. stock indices saw mixed change in May 2023. The NASDAQ increased by 5.8% over the month, while the S&P 500 grew by 0.2%. Meanwhile, the Dow Jones Industrial Average decreased by 3.5% compared with April.
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