The AGEM Index published by the Association of Gaming Equipment Manufacturers, broke its upward trend in May, falling 1.5 percent month-on-month but rising 8.4 percent yearly.
During the month, six of the 12 companies on the index saw their stock prices increase, the largest contributor of which was Konami – who saw a 10.5 percent increase, despite registering a 16 percent yearly drop.
Crane NXT likewise saw an increase, of 11.1 percent, helping further bolster the index. The company’s stock has increased 60.5 percent compared to May of 2022 (based on a pro forma estimate due to the company’s separation from Crane in April of this year).
The strongest negative contribution to the index was International Game Technology (IGT), with a 12.8 percent monthly drop, causing a 15.2 percentage point drop in the index. IGT’s stock price was up 14.5 percent from May of 2022.
During the month, two of the three major stock indices saw monthly increases, with the NASDAQ up 5.8 percent month-on-month, while the S&P grew by just 0.2 percent. Meanwhile, the Dow Jones fell by 3.5 percent when compared to April.