Other OTC:TBTC
Table Trac Announces Second Quarter 2022 Results
MINNETONKA, Minn., Aug. 11, 2022 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced financial results for the quarter ending June 30, 2022.
The 10-Q can be found @ http://www.sec.gov
Second Quarter Highlights
- The Company installed six systems at new locations, increased the number games at a current customer and our distributors expanded current locations and installed our system in over 40 new locations during the quarter.
- The Company installed a record number of games during Q2 2022
- The Company had seven customer contracts and one current customer expansion in backlog as of June 30, 2022 that are scheduled for installation before the end of the year.
Financial Results
Revenue for the second quarter of 2022 was $2,459,014 compared to revenue of $1,447,046 in 2021, an increase of approximately $1,012,000.
As of June 30, 2021 the company had a balance of $1,525,391, as a result of contract installations, which did not meet the revenue recognition collectability criterion. Based on management’s collectability review, this amount was not included in accounts receivable and revenue was only recognized as payments were received. During Q1 of 2022, based on management’s ongoing collectability assessment, $1,079,000 of this balance was determined to be collectable and was subsequently reported as revenue and included into accounts receivable. During the three months ended June 30, 2022, $2,829,200 for systems installed under contract have not been recorded as revenue or included in accounts receivable based on the collectability assessment performed by the Company. A change in the collectability assessment in a future period may allow the Company to recognize revenue prior to collecting cash.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended June 30, 2022 and 2021:
| For the Three Months Ended | |||||||
| June 30, | |||||||
| 2022 | 2021 | ||||||
| Basic and diluted earnings per share calculation: | |||||||
| Net income to common stockholders | $ | (242,324 | ) | $ | 153,635 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,511,988 | |||||
| Basic net income per share | $ | (0.05 | ) | $ | 0.03 | ||
| Weighted average number of common shares outstanding – diluted | 4,521,988 | 4,522,075 | |||||
| Diluted net income per share | $ | (0.05 | ) | $ | 0.03 | ||
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the six months ended June 30, 2022 and 2021:
| For the Six Months Ended | ||||||
| June 30, | ||||||
| 2022 | 2021 | |||||
| Basic and diluted earnings per share calculation: | ||||||
| Net income to common stockholders | $ | 1,019,516 | $ | 769,641 | ||
| Weighted average number of common shares outstanding – basic | 4,521,988 | 4,506,361 | ||||
| Basic net income per share | $ | 0.23 | $ | 0.17 | ||
| Weighted average number of common shares outstanding – diluted | 4,548,449 | 4,521,711 | ||||
| Diluted net income per share | $ | 0.22 | $ | 0.17 | ||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as Australia and the Caribbean. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Robert Siqveland
Table Trac, Inc.
952-548-8877
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MINNETONKA, MINN., March 26, 2025 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), doing business as CasinoTrac, a global Casino Management System manufacturer, today announced it had entered a strategic partnership with InfiGifts, the leading provider of gifting technology to the gaming industry, to deliver integrated gifting solutions to more than 300 CasinoTrac customers around the world. The integration work was rapidly completed and is available for installation as early as April 2025.
“We are thrilled to partner with CasinoTrac to bring our innovative gifting platform to more gaming operators,” said Azam Husain, CEO of InfiGifts. “This collaboration enables casinos to modernize their promotional programs with a seamless, cost-effective solution that delivers value to both players and operators.”
“This project represents one more tool for our customers to leverage in the daily battles they face in the hyper-competitive, sophisticated markets in which they operate,” said Chad Hoehne, President & CEO of CasinoTrac. “The integration with InfiGifts is an elegant example of our founding principles: our software is designed to support our customer practices, not dictate procedure.”
Whether a player uses the InfiGifts platform via a CasinoTrac kiosk or the KTMobile application, the integration facilitates a range of promotional strategies, including monthly gifting, points shopping, and VIP gifting. By removing common operational inefficiencies, InfiGifts enables casinos to streamline their gifting processes, resulting in significant cost savings. Players benefit from a smoother experience by choosing personalized gift rewards linked to their player value, free from the hassle of long lines or out-of-stock issues.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions and vault and cage controls. The Company’s systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry. Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables.
The Company’s suite of management systems and kiosks are installed with ongoing support and maintenance contracts with 115 casino owner-operators in 300 casinos worldwide. The Company continues to increase its market share by expanding its product offerings to include new system features and ancillary products. More information is available at https://www.CasinoTrac.com/.
Forward-Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
Media/Sales contact:
Jeff Baldi
[email protected]
702-521-0317
Investor Relations contact:
Randy Gilbert
[email protected]
952-548-8877
MINNETONKA, Minn., March 19, 2025 (GLOBE NEWSWIRE) — Table Trac, Inc. (OTCQX: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos announced financial results for the year ended December 31, 2024.
The 10-K can be found @ http://www.sec.gov
2024 Highlights
Record Gross Revenue
Record maintenance revenue of $5.37 Million, an approximate 8% increase over the prior year.
Maintenance revenue accounted for 48.2% of total revenues.
Other revenue increased 44.7% as a result of an increase in recurring monthly fees relating to DataTrac and SlotSuite.
Table Trac declared and paid three quarterly dividends of $0.01/share.
The CasinoTrac system was installed in eight locations during 2024. At the end of 2024, Table Trac had casino management systems, table games management systems and ancillary products installed with approximately 115 casino operators in over 300 casinos worldwide.
Earnings per share remained strong at $0.34/share – diluted.
Management Commentary
Table Trac, Inc CFO Randy Gilbert commented: 2024 was another strong year for Table Trac. The company ended the year having installed eight new systems and had five projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2025. Our maintenance revenue continues to increase. One of the most significant developments was the increase in recurring fees related to DataTrac and SlotSuite.
Table Trac Inc. continues to add product offerings while expanding our customer base. The result is building contemporary ways we can sustain and deliver shareholder value and per share earnings.”, said Chad Hoehne, President & CEO
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable, and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions, and provide vault and cage controls. The Company’s systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry. Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables.
The Company’s suite of management systems and kiosks are installed with on-going support and maintenance contracts in over 115 casino operators in over 300 casinos worldwide. The Company continues to increase its market share by expanding its product offerings to include new system features, and ancillary products. More information is available at http://www.CasinoTrac.com/.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Randy Gilbert
Chief Financial Officer
Table Trac, Inc.
952-548-8877 or [email protected]
MINNETONKA, Minn., March 18, 2025 (GLOBE NEWSWIRE) — The Association of Gaming Equipment Manufacturers (AGEM) announced on March 14, 2025 that its membership elected a new Board of Directors at its 2025 Annual Meeting. Table Trac’s CFO, Randy Gilbert has been appointed as a Director.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops, sells and leases information and management systems and provides technical support to casinos. The open architecture of CasinoTrac is designed to provide operators with a secure, scalable and flexible system that interconnects and operates with most third-party software and hardware. Key products and services include modules that drive player tracking programs, kiosk promotions and vault and cage controls. The Company’s systems are designed to meet strict auditing, accounting and regulatory requirements applicable to the gaming industry. Additionally, the Company has developed a patented, real-time system that automates and monitors the operations of casino gaming tables. More information is available at https://www.CasinoTrac.com/.
About AGEM
AGEM is a non-profit international technology trade association representing manufacturers and suppliers of electronic gaming devices, lotteries, systems, iGaming / online, game content, table games, sports betting, key components and support products and services for the gaming industry. AGEM works to further the interests of gaming equipment suppliers throughout the world. Through political action, regulatory influence, trade show partnerships, educational alliances, information dissemination and good corporate citizenship, the members of AGEM work together to create benefits for every company within the organization. Together, AGEM assists regulatory agencies and participates in the legislative process to solve problems and create a business environment where AGEM members can prosper while providing a strong level of support to education and responsible gaming initiatives. For more information, visit www.AGEM.org.
Forward Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company’s filings with the Securities and Exchange Commission.
For more information:
Randy Gilbert
Chief Financial Officer
Table Trac, Inc.
952-548-8877
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