AGEM Index drops notably in June; down 18% YOY
The AGEM Index fell by 71.71 points to 811.39 in June, an 8.1 per cent decline from the previous month.
Compared to one year ago, the index is down 183.98 points, or 18.5 per cent. The drop comes amid economic pressures as during the latest month, 10 of the 12 AGEM Index companies reported stock price declines, and all but one company posted negative contributions to the AGEM Index.
The sole positive contributor to the AGEM Index in June was Agilysys, which added 4.05 points to the index as a result of a 15.7 per cent increase in its stock price.
The largest negative contributor to the index was Konami Corp. whose 14.7 per cent decline in stock price resulted in a 31.61-point fall to the index. This is in stark contrast to the gains made in May, when Konami’s 9.5 per cent increase in overall stock price drove a 2.4 per cent total increase in the index.
International Game Technology saw its stock price fall 13.4 per cent, resulting in an 11.13-point loss to the index.
All three major U.S. stock indices saw both month-over-month and year-over-year losses in June 2022. The NASDAQ fell by 8.7 per cent from May, while the S&P 500 fell by 8.4 per cent. Meanwhile, the Dow Jones Industrial Average saw a 6.7 per cent decline over the month.
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.
AGEM is an international trade association representing manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry.