Connecticut Casino Equipment Provider Annual Profit Down

Connecticut Casino Equipment Provider Annual Profit Down

USA – A casino equipment provider based in Connecticut; TransAct Technologies Incorporated, has released financials for the last quarter in 2019 and the entire year’s report.

The company, established in 1996, experienced a loss for the quarter; October to December 19, of around eight-hundred-thousand dollars and saw profits for the entire year fall.

TransAct Technologies Incorporated develops and manufactures printers, terminals and software for casino and gaming establishments among other industry sectors. Brands under the group include: AccuDate, EPICENTRAL, Epic, Ithaca and Printrex.

‘TransAct designs award-winning Casino and Gaming printers chosen by operators around the world.’ The firm currently supplies popular products such as the Epic 950 casino printer, along with the robust Epicentral software, which allow casino operators to print targeted promotions and offers to slot machine players in real-time.

Chairman and CEO of Transact Technologies Incorporated Bart Shuldman commented on the figures during a meeting with colleagues, shareholders and investors:

“Revenue in the quarter was flat at $5.3 million and ended the year at $21.5 million, down 19% year-over-year. As a reminder, in 2018, we benefited from two significant one-time shipments of replacement printers to a large domestic casino operator and a customer in Europe, which created a tough comparison in 2019. That said, we are pleased with the continued strength of the casino business, particularly on the international side.”

Shuldman continued:

“We continue to invest in this important segment of our business and at ICE London in February this year we launched Epicentral 4.0 into the European market. The global gaming and casino market remain a steady component of our overall business and provides necessary support to ramp our BOHA! food service technology business.”

Bart Shuldman, who has been at the firm since its inception in 1996 elaborated on what the future holds and vision for the company:

“As we look towards 2020, we remain confident that BOHA! is on pace to become our largest ever revenue generating opportunity at TransAct… while at the same time focusing on our casino and gaming business with a world-class leading printers and Epicentral software system… We were off to a good start this year… Europe was looking better in our casino market and clearly, we closed five deals for our FST business in January and February. But unfortunately, the world has changed… March is a very big month for us and for our casino customers, especially our slot manufacturers. And we will see how it develops over the cost of this month and next month.”

President and CFO at TransAct Technologies Steve DeMartino also shared details of the firm’s figures during the discussion:

“Casino and gaming sales were $5.3 million, which was flat from the fourth quarter of ’18. Breaking this down a little further, our domestic revenues were down 4% from the prior year. Our US casino ticket printer sales increased 5%, which was more than offset by a decline in Epicentral software sales as we didn’t have any new installations in the fourth quarter of ’19. Our international casino gaming revenues were up 8% due largely to international gaming printer sales due at least in part to a large order in Spain based on strong demand from sports betting applications, as well as higher demand from an Asian OEM.”

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