The Association of Gaming Equipment Manufacturers reported that the 13 stocks represented by the AGEM Index increased by 26.84 points in May to 402.89, a 7.1 percent gain. It was the second consecutive month of gains for industry suppliers listed in the index, following a 20.3 percent rebound in April reversed a 156-point March decline.
Ten of the 13 AGEM Index companies reported stock-price increases as casinos began to reopen following the Covid-19 shutdown. The stock price for Konami Corp. gained 11.2 percent, accounting for a 7.95-point improvement in the Index, while Scientific Games Corporation experienced a 24.7 percent jump that led to an index contribution of 5.87 points.
The AGEM Index upturn reflected a similar hike in all three major U.S. stock indices. The Dow Jones Industrial Average and the S&P 500 grew by 4.3 percent and 4.5 percent, respectively, while the NASDAQ experienced a gain of 6.8 percent.
