Casino suppliers’ stock value recovered in May

Stock value remained down 16% in May 2019 but marked recovery after April.

Casino equipment suppliers’ stocks rose in May, marking a recovery from the impact of the Covid-19 pandemic.

The Association of Gaming Equipment Manufacturers (AGEM) index increased by 26.84 points in May 2020 to reach 402.89 points, a 7.1 per cent gain from April 2020.

The recovery remains limited as the figure was still down by 16.6 per cent on May 2019.

Releasing the results, AGEM said: “Ten of the 13 AGEM Index companies reported stock price increases as global markets continued to rebound from the Covid-19 pandemic.”

The Association said that the stock price for the Japanese conglomerate Konami Corp had increased by 11.2 per cent, “accounting for a 7.95-point improvement in the AGEM Index”.

Australian firms Aristocrat Leisure and Ainsworth Game Technology showed very minor improvements since April’s index and their stock prices remain far below their May 2019 values.

Taiwan’s Astro Corp meanwhile lost value, falling from NT$14.50 in April to NT$13.55 in May.

AGEM said: “All three major U.S. stock indices increased as the Dow Jones Industrial Average and the S&P 500 grew by 4.3 per cent and 4.5 per cent, respectively. The NASDAQ also experienced a gain of 6.8 per cent.”