Table Trac, a provider of casino management systems, shared its financial results for the second quarter of the year. The company reported a substantial increase in revenues and shared that it will be expanding into Las Vegas.
Table Track’s Revenues Skyrocketed
Table Trac shared that its revenues have skyrocketed by an impressive 70%. As a result, the company earned $2.5 million. This means that the company surpassed its Q2 2021 results by over a million. The company attributed this revenue increase to the new systems it installed during the quarter.
In total, the period saw Table Trac power six new locations with its systems. Meanwhile, the company’s distributors helped its solutions reach even more customers and power 40 additional locations. Because of this, Table Trac was able to supply casinos with an unprecedented number of games.
Table Trac Met Some Difficulties
Despite everything, Table Trac’s net income plummeted because of significant losses. The supplier reported that it lost $242,324, which is significantly more than it did in Q2 2021. According to the company, these losses were caused by the sudden rise in the company’s cost of sales. According to Table Trac’s results, its cost of sales skyrocketed to $1.6 million from $333,402. This represents a whopping 380% increase.
Despite the hurdles, Table Trac’s profits for the first six months were enough to make up for the losses. The company managed to surpass the $1 million net income milestone during the first half of 2022. The overall revenue for the period currently sits at $5.8 million.
The Company Continues to Supply Casinos with Solutions
Table Trac’s president, Chad Hoehne, is excited about Table Trac’s continuous growth in the United States. He is delighted to serve the world’s biggest gambling market and is looking forward to supplying more operators with his company’s acclaimed solutions.
The company will have the opportunity to grow even more in the next quarter as it just announced that it entered the Las Vegas market. Las Vegas is known as one of the best destinations for gaming and offers a myriad of gambling options to locals and tourists alike.
Table Trac is an experienced provider with over two decades of experience. The company was founded in 1995 and has since worked to provide casino companies with management and player tracking systems. The company emerged to fill in the deficiencies in the gaming market and provide its partners with robust solutions.
Today, Table Trac serves over 25,000 slot machines in over 150 locations across the US. The company serves both small properties and big casinos and is always looking to evolve and expand.