AGEM Index falls by 3.3% in March as Aristocrat, IGT suffer share price declines

The AGEM Index – a monthly stock performance guide comprising 12 global gaming suppliers – decreased by 3.3% or 42.18 points to 1,218.92 points in March, with Aristocrat and IGT seeing the largest negative contributions.

The index was, however, 28.9% or 273.11 points higher compared with the same month in 2023, with five of the 12 AGEM Index companies reporting month-on-month stock price increases.

The Association of Gaming Equipment Manufacturers (AGEM), which compiles the index, said the largest negative contributor to the index in March was Aristocrat, which saw an 8.0% decrease in stock price – leading to a 34.83-point loss to the index.

IGT also saw its stock price fall by 16.9%, leading to a 19.91-point decrease.

According to AGEM, the largest positive contribution to the index was from Crane NXT, whose 6.0% increase in stock price resulted in a 5.48-point gain to the AGEM Index.

All three major US stock indices increased slightly in February 2024 – marking the fifth consecutive month of growth across the board – with the NASDAQ up by 1.8% over the month, the S&P 500 by 3.1% and the Dow Jones Industrial Average by 2.1% from the prior month.