AGEM Index declines in November while maintaining year-over-year growth

The Association of Gaming Equipment Manufacturers (AGEM) Index slipped 1.5% to 1,907.61 in November 2025, trailing the Dow Jones Industrial Average and S&P 500, while maintaining a 16.0% improvement over the past year.

Two of the three major US stock benchmarks posted slight monthly gains. The Dow rose 0.3%, and the S&P 500 edged up 0.1%, while the NASDAQ declined 1.5%.

Six of the 10 gaming technology suppliers tracked reported stock price decreases in November, while four companies recorded gains.

Aristocrat Leisure Limited accounted for the largest downward pull on the index. The company’s stock fell 7.9%, leading to a 57.13-point decline. Konami Corp. posted a 7.4% decrease in its share price, resulting in a 54.52-point reduction.

Light & Wonder Inc. provided the most support to the index. “The largest positive contributor to the index was Light & Wonder Inc., whose 39.8 percent increase in stock price resulted in a 100.73-point gain to the AGEM Index.”

Other month-over-month movements included:

• Agilysys down 2.0%
• Brightstar Lottery PLC down 6.1%
• Crane NXT down 11.0%
• Inspired Entertainment up 8.9%
• Galaxy Gaming up 1.9%
• Ainsworth Game Technology up 1.0%
• Transact Technologies down 5.7%

The index fell by 29.02 points from October, while rising 263.24 points from the previous year.

According to AGEM, the monthly performance is based on the movement of shares from 10 global suppliers listed on US, Australian, and Japanese exchanges. The calculation uses month-end prices adjusted for dividends and stock splits and is weighted by estimated market capitalization. “Market capitalizations for manufacturers trading on foreign exchanges have been converted to US dollar-equivalents as of month-end for comparability purposes.”

The AGEM Index began with a base value of 100 points in January 2005.