After a ravaging year due to the COVID-19 pandemic, gaming manufacturers’ stock is surging. In June 2021, the Association of Gaming Equipment Manufacturers (AGEM) complied with a monthly index of its 13 major global suppliers.
AGEM reported an Index value at 1, 005.20, the all-time highest mark. At the same time last year, AGEM Index was at 407.31 points. This means that the valuation has surged by 147 percent over the past year.
Most of AGEM stocks in the past three years reported a triple-digit growth rate, with scientific games corporation leading with a 400.9 percent improvement for its stock. Other notable AGEM companies with incredible Index include Aristocrat Leisure, Everi Holdings, and International Gaming Technology (IGT).
Gaming stocks were greatly damaged by the COVID-19 pandemic, but are now recovering. VanEck Vector Gaming ETF consists of 40 holdings, especially those engaged in operating large-scale casino resorts and sports betting has reported a significant gain this year.
VanEck, this time last year, was trading at $33.65, but on Wednesday, the firms closed at $51.87, which is about a 54 percent year over year jump. Flutter Entertainment, the company behind FanDuel, Fox Bet, Paddy Power, Betfair, and PokerStars, reported a 7.7 percent gain.
Gaming executives are optimistic that the recovery is just beginning. Las Vegas has been the most critical market for AGEM. The opening of the 44.3 billion Resorts World complex is expected to draw more visitors to the Strip.