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August AGEM Index Up 1.2% with Light & Wonder Leading

September 7, 2023 World iGaming & Gambling

The AGEM Index, released by the Association of Gaming Equipment Manufacturers, increased by 1.2 percent in August compared to the previous month and by a significant 33.1 percent when compared to the same period last year.

Throughout the month, seven of the index’s twelve companies had their stock prices rise. Light & Wonder was the most significant contribution to this growth, with a 9.1 percent monthly increase and a 55.7 percent annual increase.

Konami came close following, with its stock price increasing by 6.1 percent on a monthly basis and 19.4 percent year on year.

Galaxy Gaming, with an 11.1 percent monthly growth, also contributed to the index’s favorable trend. This has boosted the company’s shares, which has increased by 4.2 percent since July 2022.

International Gaming Technology (IGT) had the most significant negative influence on the index, with a 5.4 percent decline in its monthly stock price despite a tremendous 78.5 percent annual rise.

During the same month, all three major stock indices fell, with the NASDAQ losing 2.2 percent month on month, the S&P dropping 1.8 percent, and the Dow Jones plummeting 2.4 percent compared to July.

Original Story by AGB

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