AGEM Index sees slight 1.5% decrease in May as IGT stock price drops almost 13%

The Association of Gaming Equipment Manufacturers (AGEM) has announced the latest results for its Index, showing a decrease of 14.54 points in May to 956.98, or a 1.5% fall from the prior month. However, compared to 2022, the index was up 73.87 points, or 8.4%.

The AGEM Index is a monthly stock performance guide comprising 12 global gaming suppliers. During the latest month, six of the 12 AGEM Index companies reported stock price increases, which resulted in six positive contributions to the AGEM Index, five negative contributions, and one neutral contribution.

The largest positive contribution to the monthly index was sourced to Konami, whose 10.5% increase in stock price led to a 14.08-point gain to the index. Additionally, Crane NXT, which separated from Crane Company in April, saw its stock price increase by 11.1%, leading to an 8.02-point gain in the index.

The largest negative contribution to the index was sourced to International Game Technology (IGT), whose 12.8% decrease in stock price resulted in a 15.20-point loss for the AGEM Index. 

All three major U.S. stock indices saw a mixed change in May 2023. The NASDAQ increased by 5.8% over the month, while the S&P 500 grew by 0.2%. Additionally, the Dow Jones Industrial Average decreased by 3.5% from the prior month.

AGEM represents manufacturers of electronic gaming devices, systems, lotteries and components for the gaming industry. The association began compiling data for the index in January 2005, using a base of 100 points. The stocks that constitute the AGEM Index are weighted by approximate market capitalization.