IGT, Scientific Games spur uptick in AGEM Index
In February 2022, the AGEM Index improved by 27.08 points to 952.95, marking a 2.9 per cent increase from January. That uptick comes after the index experienced a 4.7 per cent decrease last month compared with December 2021.
Compared to one year ago, the index added 201.16 points for an annual growth rate of 26.8 per cent.
During the latest reporting period, nine of the AGEM Index companies reported stock price increases, with three posting a decline. As a result, eight companies posted positive contributions to the index.
The most significant of those, and the top contributor to the monthly index, was International Game Technology, whose 14.4 per cent increase in stock price led to a 17.29-point gain for the index.
Meanwhile, Scientific Games reported a 10.51-point contribution to the index as a result of a 9.1 per cent increase in overall stock price.
The largest negative contribution to the index was sourced to Aristocrat, whose 7.6 per cent drop in stock price resulted in a 17.49-point decrease.
The uptick in the AGEM index came as all three major U.S. stock indices declined once again. The S&P 500 declined 3.1 per cent, while the NASDAQ fell by 3.4 per cent. The Dow Jones Industrial Average experienced the largest dip among major U.S. stock indices with a 3.6 per cent decline in February 2022.
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index that comprises 12 global gaming suppliers throughout the world. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on an approximation of market capitalization.