Table Trac posts $7m in full-year gross profit
The company has released its financial results for 2023.
US.- Table Trac, a developer and provider of casino information and management systems, has released its financial results for 2023. The company registered a record $7m in gross profit, with a gross margin percentage exceeding 74 per cent. Reoccurring revenue was $4.9m, up 42 per cent.
The company stated that at the end of 2023, it had casino management systems, table games management systems, and ancillary products installed with 110 casino operators in over 300 casinos worldwide. It also established an office in Las Vegas last year.
President and CEO Chad Hoehne said: “Once again, Table Trac continues to add product offerings while expanding our customer base. The result is building more ways we can sustain and deliver shareholder value and per share earnings.”
CFO Randy Gilbert added: “2023 was another very strong year for Table Trac. We ended the year having installed thirteen new systems, expanding one of our current customers and we currently have four projects in our backlog. We expect most of the backlogged projects to be installed by the end of Q2 2024. Our reoccurring revenue continues to increase. Other sales, which included DataTrac and kiosk related products increased over 9% compared to 2022 and accounted for over 12% of our total revenue in 2023”.
