The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – increased by 2.7% or 25.71 points to 971.52 points in April, led by strong gains by Crane NXT and Konami.
The index was also up by 12.7% or 109.10 points compared with the same month in 2022 as six of the 12 AGEM Index companies reported stock price increases.
The Association of Gaming Equipment Manufacturers (AGEM), which compiles the index, said the largest positive contributor to the index in March was Crane NXT, which was recently spun-off from US technology firm Crane Co. Crane NXT’s businesses include currency validation firm Crane Payment Innovations (CPI), which provides payment technology to the global gaming industry.
According to AGEM, Crane NXT saw its stock price increase 20.1% in April, resulting in a 12.39-point gain to the index, while Konami saw its stock price increase by 10.2%, leading to a 11.16-point gain. The largest negative contribution to the index was from Everi Holdings Inc, whose 11.4% decrease in stock price resulted in a 3.54-point loss for the AGEM Index.
All three major US stock indices saw month-over-month increases in April. The Dow Jones Industrial Average increased by 2.5% from March, while the S&P 500 grew by 1.5% and the NASDAQ by 0.04%.
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