TLDR
- The AGEM Index rose 2.9% in August, closing at 1,929.25 points.
- Light & Wonder was the top gainer, with its stock up 15.5% for the month.
- Konami Group also helped lift the index, with shares rising 7.1%.
- Aristocrat Leisure was the biggest drag, falling 4.9% during August.
- The index remains 2.7% lower than it was a year ago, despite the monthly gain.
The AGEM Index rose 2.9% in August compared to July. The index tracks the stock performance of global gaming equipment manufacturers.
It closed the month at 1,929.25 points, up 54.48 points from July. The Association of Gaming Equipment Manufacturers released the figures.
Despite the monthly gain, the index remains below where it stood a year ago. It fell 2.7% compared to August of last year.
The index includes nine companies. Four of them posted share price gains during August, while five recorded losses.
Light & Wonder Leads the Monthly Gains
Light & Wonder was the top contributor to the index in August. Its stock price climbed 15.5% during the month.
That gain added 40.57 points to the AGEM Index. It was the strongest single boost recorded by any company in the group.
Konami Group also helped push the index higher. Its shares rose 7.1% in August, adding 33.85 points to the benchmark.
Together, Light & Wonder and Konami added 74.42 points to the index. Their gains outweighed the losses from other companies in the group.
Aristocrat Leisure Weighs on the Index
Aristocrat Leisure was the biggest drag on the index in August. Its shares fell 4.9% during the month.
The decline cost the index 24.61 points. It offset some of the gains made by Light & Wonder and Konami.
Even with four companies posting gains, the five declines limited the overall rise. The index still ended August higher than it started.
All three major U.S. stock indices grew in August. The Nasdaq rose 3.9%, the S&P 500 rose 2.6%, and the Dow Jones Industrial Average rose 1.3%.
The AGEM Index did not match the pace of the Nasdaq. Its 2.9% rise was slower and came with mixed results among its member companies.
AGEM compiles the index each month with help from Applied Analysis, an advisory firm based in Nevada. The group represents makers of electronic gaming devices, lottery products, and related equipment.
The index started tracking data in January 2005 using a base of 100 points. Companies in the index are weighted by their market capitalization.
