Table Trac Inc., a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced its financial results for the year ended December 31, 2023.

Year End Highlights

• Record $7 Million in Gross Profit.
• Gross Margin percentage exceeds 74%.
• Record reoccurring revenue of $4.9 Million, a 42% increase over the prior year.
• Table Trac declared and paid three quarterly dividends of $0.01/share.
• The CasinoTrac system was installed in thirteen locations during 2023. At the end of 2023, the Company had casino management systems, table games management systems and ancillary products installed with 110 casino operators in over 300 casinos worldwide.
• Table Trac established an office/showroom in Las Vegas.

Year-to-Date Financial Results

• Earnings per share remained strong at $0.35/share – diluted, which was consistent with 2022.
• Recurring revenue accounted for 52.6% of total revenues.
• Net Income for 2023 was $1,675,717 compared to $1,624,453 for 2022.

Management Commentary

Table Trac CFO Randy Gilbert said: “2023 was another very strong year for Table Trac. We ended the year having installed thirteen new systems, expanding one of our current customers and we currently have four projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2024. Our reoccurring revenue continues to increase. Other sales, which included DataTrac and kiosk related products increased over 9% compared to 2022 and accounted for over 12% of our total revenue in 2023.”

Chad Hoehne, President & CEO of Table Trac, said: “Once again, Table Trac Inc. continues to add product offerings while expanding our customer base. The result is building more ways we can sustain and deliver shareholder value and per share earnings.”

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