AGEM Index Slips 0.7% in July, Still Up 33% Year Over Year

July 2025

The largest positive contributor to the monthly index was Aristocrat Leisure Limited, whose 7.5 percent increase in stock price led to a 48.40-point gain to the index. Meanwhile, Crane NXT, Co saw its stock price increase by 10.1 percent, leading to a 10.00-point increase for the index. The largest negative contributor to the index was Konami Corp., whose 10.1 percent decrease in stock price resulted in a 67.58-point loss to the AGEM Index.

Two previously announced acquisitions of AGEM Index companies were completed over the past month. Brightstar Capital Partners completed its $1.1 billion acquisition of PlayAGS, Inc., which went private and was delisted from the New York Stock Exchange (NYSE). In the other transaction, an affiliate of private equity giant Apollo Global Management acquired the gaming and digital units of International Game Technology PLC and Everi Holdings Inc. for a combined $6.3 billion. The newly split IGT company and Everi went private and were delisted from the NYSE.

IGT’s lottery business was not involved in the transaction and remained on the NYSE under the new name of Brightstar Lottery.

In July, two of the three major U.S. stock indices increased from the prior month. The NASDAQ rose by 2.0 percent over the month, while the S&P 500 experienced a 0.6 percent increase. Meanwhile, the Dow Jones Industrial Average fell by 2.0 percent from the prior period.

The AGEM Index
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index that comprises 10 global gaming suppliers throughout the world. A total of nine suppliers are based in the United States and are listed on the NYSE, Nasdaq or OTC market, while two trade on the Australian exchange and one on the Tokyo exchange. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalization. Market capitalizations for manufacturers trading on foreign exchanges have been converted to US dollar-equivalents as of month-end for comparability purposes. The AGEM Index is based on a 100-point value as of January 2005. Company stock prices and AGEM Index contributions may be revised as necessary due to stock splits, reverse stock splits, mergers, acquisitions and other business activities.

About AGEM
AGEM is an international trade association representing manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry. The Association works to further the interests of gaming equipment manufacturers throughout the world. Through political action, tradeshow partnerships, information dissemination and good corporate citizenship, the members of AGEM work together to create benefits for every company within the organization. Together, AGEM and its member organizations have assisted regulatory commissions and participated in the legislative process to solve problems and create a positive business environment.

About Applied Analysis
The AGEM index and overview is prepared by Applied Analysis (AA). AA is a Nevada-based advisory services firm providing consultation services for public and private entities. The company utilizes extensive experience in economics, information technology and finance to provide a wide range of services, including urban economic consulting, financial advisory services, market analysis, public policy analysis, hospitality industry and gaming consulting, and information system and technology consulting.