The AGEM Index continued its upward trajectory in September, rising 33.86 points to a new high of 1,046.74, according to the Association of Gaming Equipment Manufacturers. Over the past year, the AGEM Index has nearly doubled from 525.44 points in September 2020.
The monthly rise in the index was driven by gains from five of its companies, which overcame negative index contributions by the other seven companies in the AGEM Index.
The top contributor was International Game Technology; its 22.5 percent increase in stock price led to a 23.2-point gain for the index. Scientific Games Corporation added 22.67 points as the result of a 14.8 percent rise in stock price.
The largest negative contributor to the index was Konami Corporation, which experienced a 7.1 percent drop in stock price, leading to a 12.14-point decrease in the Index.
The AGEM Index outperformed the three major U.S. stock indices, all of which decreased over the month. The NASDAQ and S&P 500 declined 5.7 percent and 5 percent, respectively. The Dow Jones Industrial Average experienced a 4.3 percent decline.