News Land-Based 12 Aug 2022
Table Trac reports $2.5m in Q2 revenue and announces Las Vegas market entry
By Gambling Insider
Table Trac has shared its second quarter financial results, highlighting a 70% revenue increase driven by a surge of installations.
For Q2, the company, which develops and supplies casino information and management systems, produced $2.5m in revenue.
This represents an over $1m increase from the $1.4m Table Trac generated during Q2 of 2021, though as a total, remains modest. Nevertheless, the company has experienced healthy growth.
During the second quarter, Table Trac installed six systems at new locations, while its distributors expanded current locations and installed the company’s system in over 40 new locations.
All-in-all, Q2 saw Table Trac install a record number of games, however, the company’s net income actually dipped into the red on a year-over-year basis.
Table Trac recorded a loss of $242,324, down from the prior-year period’s positive $153,635. This fall can be largely attributed to a triple-digit hike in the company’s cost of sales, which jumped by 380% from $333,402 to $1.6m.
But this did not offset the company’s half-year rise in profitability. For H1, Table Trac generated a net income of $1m, up by 32% from $769,641.
This was driven by top-line growth of 60%, with the company’s half-year revenue rising to $5.8m. Table Trac also announced that it has recently entered the Las Vegas market.
Chad Hoehne, Table Trac’s President, said: “Our company’s work to design, build, install and support casino clients with a quality CMS system solution is being rewarded all over the USA and in over 13 countries, but it is especially gratifying to begin service in the world’s largest gaming market.”
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