AGEM Index posts slight sequential rise in October, 28% jump from a year ago

The Association of Gaming Equipment Manufacturers (AGEM) reported that its monthly AGEM Index rose by 0.6% in October to 1,936.63 points, marking a modest gain despite a majority of listed companies recording share price declines. Only two of the 10 firms that make up the index saw their stock values improve from September.

On an annual basis, the index showed stronger growth, climbing 27.6%, or 418.43 points, compared to October last year, according to the association’s statement released Wednesday.

Tokyo-listed Konami Group Corp was the biggest positive driver of the index, with its share price advancing 20.6% from September, contributing 106.09 points to the AGEM Index.

The association attributed this increase to the company’s 22.1% year-on-year rise in overall revenue for the six months ending September 30. However, Konami’s gaming and systems division, which includes its casino equipment operations, saw revenue fall by nearly 4.5% over the same period.

The second positive contributor in October was Nasdaq-listed Agilysys Inc., which produces business software for the hospitality sector. A 19.2% month-on-month increase in its share price added 19.97 points to the index.

Australia-based Aristocrat Leisure Ltd, a leading manufacturer of slot machines and online gaming content, was the largest negative influence. Its share price dropped 9.6% in October, resulting in a 79.52-point decline in the index. The association noted that Aristocrat’s stock has fallen 13.4% since late August.

Despite the mixed results among gaming suppliers, the broader U.S. stock market performed positively for the third consecutive month. In October, the Nasdaq climbed 4.7%, the S&P 500 rose 2.3%, and the Dow Jones Industrial Average advanced 2.5% compared with September.

AGEM represents global manufacturers of electronic gaming machines, systems, lotteries, and related components. The AGEM Index is produced monthly in collaboration with Nevada-based advisory firm Applied Analysis.