USA – A casino management system firm based in Minnesota; Table Trac Incorporated, has today announced details of its yearend financial results, including system activity, new contracts and revenue figures.
The firm, which allows establishments to streamline their casino gaming operations using trademarked products such as CasinoTrac; affordable, secure and scalable casino management system, has published data for the full twelve months of 2019.
The CasinoTrac casino management system by Table Trac provides operators with full functionality from accounting and revenue audits to players club and promotions.
The company develops and offers a complete suite of casino management solutions ranging from the Company’s patented table game management system Table Trac, to CasinoTrac, a total casino management system with functionality modules for guest rewards, loyalty clubs, marketing analysis, guest services, promotions administration/management, vault/cage management and audit/accounting.
According to reports released by the firm today, yearend highlights include:
– The CasinoTrac system was installed in 27 locations during 2019. At the end of 2019, the Company had casino management systems, table games management systems and ancillary products installed with on-going support and maintenance contracts with 100 casino operators in over 160 casinos worldwide.
– During 2019, the Company delivered product with a value of approximately $4,460,000 on new contracts at the respective contract dates. Approximately $2,500,000 of the revenue for these system sales will be recognized in future periods. As a result, those contracts, along with the related maintenance, are expected to add approximately $97,000 each month to the existing recurring revenue.
– The company signed an exclusivity contract with the Japanese company, BroadBand Security Inc., in Tokyo, to rebrand, adapt and market their casino management system (CMS) to the developing Japanese gaming market.
Since 2005, Table Trac has launched several revenue-generating products for casinos, including; KioskTrac, a loyalty and reward system, Progressive, casino digital signage system and DataTrac, a communication driven promotion service.
Table Trac Incorporated Year End Financials:
Revenues from service and other sales increased from $229,704 in 2018 to $1,415,947 in 2019.
Ongoing maintenance revenue increased from $2,635,122 in 2018 to $2,829,740 in 2019, a 7% increase of approximately $195k, due to high customer retention along with new accounts added during 2019.
Total operating expenses increased from $4,611,097 in 2018 to $4,853,767 in 2019 a 4.7% increase of approximately $219k. This increase was primarily a result of the Company’s increased sales and marketing efforts.
The net income for 2019 was $805,998 compared to net income of $514,965 for 2018.