AGEM Index Makes Some Positive Movement After Weeks

AGEM Index Makes Some Positive Movement After Weeks

The AGEM Index has gone through a turbulent year in 2020. The index tracks a few stocks of gaming equipment suppliers from around the globe. During the coronavirus pandemic, the index has gone down by 20 points on some occasions as much as 70 points on bad days.

Coronavirus pandemic takes its toll

The AGEM Index has been hit hard because of the coronavirus pandemic as most industries, including gambling the gambling sector. After weeks of bad performance, the index is finally showing some signs of recovery and things may be looking up. In the month of August, the AGEM Index gained more than 15% on a month-on-month basis and is showing slightly better positions on a yearly basis.

AGEM Index Makes Some Positive Movement After Weeks

The Association of Gaming Equipment Manufacturers (AGEM) which offers the index, provided an update on its performance at the beginning of September. It noted that overall, the stocks included in the index improved by about 61.15 points or 14.5% on a month-on-month basis. The Index now totals at 482.02 points. The association said that it was a direct result of global markets continuing to show positive trends. The Index currently tracks 13 companies of which all but three marked improvements in their stock prices.

Who were the big winners?

The big winners of the Index included the Japanese company Konami Holdings Corp. It saw a 27.1% increase in its stock price in just one month. The company recently signed an exclusive gaming deal with Resorts World Las Vegas in February. It also started rolling out its Konami Gaming arm in Las Vegas. The new cashless option allows users to engage with their platform via smartphones. It has also created a new video slot offering called All Aboard, which has become a huge hit with casino patrons since its introduction two months ago.

TransAct Technologies witnessed a massive 53.3% increase in its stock prices on a monthly basis. The company creates casino technology and food safety equipment. It reported earlier in the year that it has found new ways to manage its money better. It also reported earlier in the year that its 2019 revenue was 90% lower on a yearly basis. The current year has also been disappointing for the company with net revenue dropping 53%. However, it made a gross profit margin of 43.3% at the same time.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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