AGEM Index Soars in May, Reflecting Strong Gaming Industry Performance

In May 2024, there was a notable increase in the Association of Gaming Equipment Manufacturers (AGEM) Index, which rose by 11.4%, or 126.56 points, from the previous month. Each year, the index rises by 29.1%, or 278.64 points, as this upward trend persists.

This development was driven by improvements in the stock prices of eight out of the twelve corporations in the AGEM Index.

The best performer was Aristocrat Leisure Limited, whose 12.6% rise in stock price resulted in an astounding 67.53-point gain for the index. Another significant contributor was Konami Corp., whose stock price increased 14.8% and contributed 32.43 points to the index.

The favorable trend was not universal, though. The stock price of Everi Holdings Inc. dropped 11.5%, deducting 1.59 index points.

Interestingly, the index remained unchanged over this time due to the lack of movement in the stock price of International Game Technology PLC (IGT).

The market was moving higher overall, even outside of the AGEM Index. The NASDAQ, S&P 500, and Dow Jones Industrial Average—the three main US stock indices—all increased when compared to April, bolstering the bullish mood on the market.

The AGEM Index’s remarkable rise in May indicates that the gaming industry will fare admirably overall, as this indicates.

Original Story by: Asian Gaming Brief