Last year I brought to light a United States based gaming table company who specializes in poker. Well, poker tables that is. Automated ones. In November I discussed how PokerTek was expanding their product line with the introduction of automated blackjack tables called BlackjackPro. This would also change their specialization from poker to automated casino game tables in general.
This month with the installation of the first round of several BlackjackPro installations. Two things were revealed by CEO Mark Roberson with the first round of installation of BlackjackPro. 1. PokerTek was looking to expand its offering of automated table games, calling the forth coming tables ProCore, and BlackjackPro would be the first of the ProCore series; and 2. The expanded offerings were to generate more revenue.
At first the expansion openly detailed to increase expansion might raise eyebrows—boy, aren’t they cocky some might say. But it turns out there is a reason behind the expansion due to increase revenue.
PokerTek is a six year old company that has yet to show profit. In their fourth quarter they reported a $481,453 loss on their revenue that totaled at $1.6 million for that quarter. PokerTek has experience consistent loss in the last two years, although 2010 was not as bad as 2009, but then the first BlackjackPro tables would have sold right at the very end of 2010. While that helped to make losses not as bad, it still did not show a profit.
In 2009 PokerTek lost $5.67 million compared to revenue generated of $5.41 million. Like I said 2010 was not as bad: $4.02 million on $5.9 million.
Hopefully the expansion of offering an array of automated tables will help PokerTek stick around in the casino game industry. If BlackjackPro tables helped cut down on the losses for 2010, then it is possible that they might be the beginning of the saving grace for PokerTek.