Friday, July 15, 2011

PokerTek sees gaming growth - Charlotte Business Journal:

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Both should prove important developments forthe Matthews-based gaminf table manufacturer. But the company is not sitting on a pat Atthis week’s Global Gaming Expo in Las Vegas, PokerTe k is previewing an extensionh of its non-gambling games. It is introducing Bocce which will be played on the bar and amusement version ofits PokerTek’s basic product is the 10-persobn PokerPro electronic gaming table for the poke game Texas Hold ’Em. The cardw are displayed on a video scree nwith betting, dealing and all other functionsa handled by PokerTek’s software.
Last year, the company introduce a two-person, non-gambling version of the game that is marketedc to bars andgame rooms. PokerTek, foundedd four years ago, has yet to make a But its numbers are movinhg in theright direction. Revenue for the firstg nine months of the yeartotaledr $11.3 million. That’s up from $2.6 million for the firstf nine monthsof 2007. The company’s $1.8 million net loss in the thir d quarter is downfrom $4.1 million a year ago. Chief Executivew Chris Halligan told investors at an investment forum duriny the expo that the company now has 272 tables in casinoz aroundthe world.
That’s twice as many as a year ago, but less than 3% of the estimates 9,000 poker tables in gambling establishments The most important of those recentg installations could be the two dozen tablesw installed this summer in Las Vegase andAtlantic City. Those are fieled trials required by the gaming commissions of Nevada and New Jersey to determine if the tables can be used in Trump Plaza Casino in Atlantic City installes 12 tables in a specialpoker room. Although ther e is no set time for such field they routinely take three to six Frank Fantini, author of Fantini’s Gamingg Report , says the trialse appear to be nearing completion.
“Thed field trials are the last step in the approval he says. “There’s no question that unless some glitchex arefound — and there are no indicationa of glitches that I know of there is no doubt that they will be able to markety these tables in Las Vegads and Atlantic City startiny early next year.” The Excalibur Hotel and Casino in Las Vegae started a similar 12-tablr trial in late PokerTek hopes that trial will be completedr early next year. Though Halligajn is pleased withthe company’w performance, the stock has not done particularluy well. It was trading this week just above $2.
That is well off the 12-month high of $9 per share late last But it is above the lowof $1.489 hit last month.

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