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Table Trac, Inc. Announces Year End Results for 2019

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Table Trac, Inc. Announces Year End Results for 2019
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Table Trac, Inc., announced financial results for the year ended December 31, 2019.

Year End Highlights

  • 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.

Year-to-Date Financial Results

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.

 

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 the Caribbean.  More information is available at http://www.tabletrac.com/.

 

SOURCE Table Trac, Inc.

Compliance Updates

EveryMatrix accelerates LatAm growth with Peru market accreditation

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EveryMatrix accelerates LatAm growth with Peru market accreditation
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EveryMatrix will imminently launch a series of new customers in Peru following regulatory accreditation from the country’s Ministry of Foreign Trade & Tourism (Mincetur).

The tier-1 iGaming technology provider excels in delivering compliant solutions within regulated and emerging markets and is one of the first to be accredited in the country enabling its customers to gain early market share.

Regulatory approval will also further expand its reach across the rapidly growing Latin America market with several new customers due to launch in Peru in the coming months.

EveryMatrix is live in several LatAm markets and is significantly accelerating its regulated growth across the region with a dedicated office opening later this year.

LatAm customers have access to its entire range of proven, modular revenue-generating technology products. This includes online casino and sportsbook platforms, player account management and sports and esports odds/data feeds.

EveryMatrix clients can also select from affiliate management and optimisation software and services, gamification, bonus and loyalty features, localised content and aggregation and bespoke safer gambling tools.

Mincetur has projected that approximately Sol3.8 billion (€1bn) in bets was placed in 2022 with online gaming and sports betting estimated to produce Sol162m (€40.6m) a year for the state.

Bobby Longhurst, Group Chief Commercial Officer, EveryMatrix said: “We’re delighted to be among the first technology providers to be given accreditation so we can instantly power our customers to gain valuable, early market share.

This is a vital step in further increasing our footprint in LatAm, both as Peru and the wider region continue to regulate. We see huge opportunities across all our product areas including turnkey partnerships that involve multiple EveryMatrix products and services coming together to launch or relaunch operator offerings.

“We’ve proven we can deliver large-scale tier-1 technology projects in Europe and are excited at the prospect of replicating this success in Latin America.

“It’s no secret the LatAm market is gathering speed and we’re determined to be at the forefront of that growth in the months and years ahead.”

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Latest News

GiG bags a brace of deals for Spain and Argentina, with two new partners for its iGaming platform CoreX and Sportsbook, SportX

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GiG bags a brace of deals for Spain and Argentina, with two new partners for its iGaming platform CoreX and Sportsbook, SportX
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Gaming Innovation Group (GiG) has announced the signing of a brace of new deals for its new iGaming platform CoreX and sportsbook SportX in Spain and Argentina, as its revolutionary new X-Suite solutions continues to make a powerful impression on operators across regulated markets in Europe and Latin America.

The first partnership announced is with established Spanish land-based, online casino and sports betting operator Juegging, who will migrate onto GiG’s powerful, full-turnkey X-Suite.

The combined X-Suite will grant Juegging the ability to completely revolutionise their sports offering, and greatly expand the number of payment and content providers they can offer to the market. GiG’s suite of highly scalable, user-centric and localised features are focused to enhance player acquisition and retention, which will help propel the growth of the brand in the region.

Spain is expected to generate close to €2 Billion of GGR, YoY within the next three years according to the regulator, the DGOJ.

In addition, a milestone deal will see GiG’s new CoreX platform make its entrance into Argentina’s regulated space, in a partnership with local land-based casino and slot hall operator, SIGAR S.A. GiG has enjoyed a long established presence in the country, powering brands in 7 regulated provinces.

SIGAR’s planned online presence will look to leverage GiG’s preeminent experience at taking land-based casino operators online, having established many similar successful partnerships in recent years with brands across Europe and Latin America.

Revenues for iGaming in Latin America are expected to top USD $3.7bn in 2025 on data supplied by Statista, proving that there is considerable opportunity for operator expansion within regulated markets with experts such as GiG, worldwide.

Andrew Cochrane, Chief Business Officer at GiG said; “These signings underscore the demand for our CoreX platform and SportX sportsbook, to drive innovation and expansion for our partners in regulated markets. The full X-Suite solutions, we believe, sits at the apex of technological advancement within our industry, empowering operators like Juegging and SIGAR to thrive in competitive landscapes across Europe and Latin America. “

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Compliance Updates

Compliable Expands Licensing Offering to Europe and Latin America

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Leading licensing management solution now supports new global markets

Leading compliance software provider Compliable is now supporting licensing in European and Latin American markets, further strengthening its proposition following a successful period of growth in the United States.

With experience of working with prominent industry brands including FanDuel, Bet365 and BetFanatics in North America, Compliable’s platform can now help companies complete, manage and maintain gaming licenses across multiple global jurisdictions.

Compliable is expanding into new markets at a time of increased regulatory obligations in numerous regions as well as a heightened demand from suppliers and vendors to get licensed from a reputational point of view.

Markets in Europe as well as emerging regions in Latin America are now supported by Compliable’s software solution, which enables operators and suppliers to enter new countries more quickly and reduces the ongoing burden of regulatory requirements.

Compliable’s software platform and tools provide customers both significant time and cost savings, as employees enter key information just once in the licensing process with the information then auto-populated across multiple forms, generating error-free applications every time.

The solution cuts the time it takes to get employees licensed by 90% to less than an hour, which has led to an increase of up to 700% in the number of employees that can be onboarded.

“Following discussions with our customers and prospects, it became clear that there is a demand for our market-leading licensing management solution outside of the United States and we are pleased to now be able to streamline the licensing process for even more companies in additional jurisdictions,” the Chief Executive Officer for Compliable, Chris Oltyan, said. “Licensing compliance can slow down your ability to expand into new markets but it doesn’t have to. Using our platform to remove bottlenecks in the acquisition and management of licenses frees up time and attention so our customers can focus on their go to market plans.”

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