AGEM Index inches upward in April

The AGEM (Association of Gaming Equipment Manufacturers) Index saw a decline this past March, dropping 2.4% from the previous month and a year-on-year drop of 10.5%. April appears to have been a little better, as the index rose slightly from March, but was still well below last April’s figures.

According to the AGEM’s report for April, share prices among major casino gaming equipment manufacturers increased 23.89 points to 476.35 points from March to April. This was an increase of 5.3% month-over-month, but a decline of 10.3% year-on-year.

April’s results increased faster than indices such as the Dow Jones Industrial Average and the NASDAQ Index. Dow Jones only climbed 2.6% and NASDAQ’s list increased by 4.7%. A third, the Standard & Poor’s 500, rose by 3.9%.

The increase was attributed mostly to the performance of Aristocrat Leisure Ltd. Its price increased by 6.4%, giving the index an additional 9.8 points. International Game Technology Plc (IGT) enjoyed a stock price increase of 12.6%, which added 5.54 points to the AGEM Index. Of the 14 companies covered by the index, ten increased and four decreased. Of those that didn’t do so well, Agilysys saw its performance decline 9.6% month-over-month and Everi Holdings reported a 2.2% drop.