Table Trac, Inc. Reports Impressive Financial Results for 2024
Table Trac, Inc. (OTCQX: TBTC), a leading provider of casino information and management systems, has announced compelling financial results for the year. The company, renowned for automating and enhancing operations in the gaming industry, has expressed optimism as it shares its progress and future outlook.
2024 Financial Highlights
Throughout 2024, Table Trac achieved record gross revenue, showing robust growth compared to previous years. A highlight of the year was a maintenance revenue of $5.37 million, marking an approximate 8% increase over prior year results. This maintenance revenue has significantly contributed to total revenue, comprising 48.2% of it.
In addition to maintenance revenue, the company's other revenue streams have flourished, increasing by 44.7%. This surge stems largely from recurring monthly fees associated with popular products such as DataTrac and SlotSuite, showcasing the company's strength in maintaining and growing customer relationships.
Table Trac also made a commitment to its shareholders by declaring and paying three quarterly dividends of $0.01 per share in 2024, rewarding investors with a direct return on their investment.
System Installations and Operational Growth
During the year, Table Trac successfully installed its CasinoTrac system across eight new locations, expanding its footprint in the gaming industry. By the close of 2024, the company had installed casino management systems in approximately 115 casino operators across more than 300 casinos worldwide. This impressive installation rate reinforces Table Trac's status as a trusted partner in the gaming sector.
Earnings per share reflected the company's healthy growth trajectory, remaining steady at $0.34 per diluted share. These results signify a strong performance that highlights Table Trac's operational efficiency and market demand for its offerings.
Insights from Company Leadership
Randy Gilbert, CFO of Table Trac, provided management insights, stating, "2024 has been yet another year of solid achievements for Table Trac. We ended the year not only having successfully installed eight new systems but also with five additional projects in our backlog. We anticipate that most of these will be implemented by the close of the second quarter in 2025. Our maintenance revenue continues its upward trend, a favorable sign for our future operations.”
Chad Hoehne, President & CEO, echoed these sentiments, emphasizing the company's commitment to innovation and customer satisfaction. He highlighted that continuous expansion of their product offerings plays a crucial role in sustaining shareholder value and enhancing per share earnings.
About Table Trac, Inc.
Established in 1995, Table Trac, Inc. specializes in developing, selling, and leasing advanced information and management systems tailored for casinos. Their flagship product, CasinoTrac, stands out for its open architecture, allowing for seamless integration with various third-party software and hardware solutions. This flexibility makes it an attractive choice for casino operators seeking security and scalability.
The company also offers a range of modules aimed at improving player tracking programs, promotional kiosks, and secure vault operations, ensuring compliance with stringent auditing and regulatory standards in the gaming industry. With a solid presence in over 300 casinos worldwide, Table Trac continues to enhance its market share and strengthen its customer base.
For ongoing support and maintenance, Table Trac's systems are deployed with over 115 casino operators, solidifying its reputation as a leading provider in the gaming technology sector. The company consistently evolves its product offerings, incorporating new features and complementary products to meet changing market demands.
Frequently Asked Questions
What financial milestones did Table Trac, Inc. achieve in 2024?
Table Trac, Inc. achieved record gross revenue and saw an 8% increase in maintenance revenue, totaling $5.37 million.
How did the company's earnings per share perform?
The company's earnings per share were robust, remaining steady at $0.34 per diluted share throughout the year.
What products contributed to revenue growth?
Revenue growth was significantly influenced by recurring fees from products like DataTrac and SlotSuite, which increased by 44.7%.
How many new systems were installed in 2024?
Table Trac installed its CasinoTrac system in eight new locations during the year.
Who can I contact for more information about Table Trac?
For more information, you can reach out to Randy Gilbert, Chief Financial Officer, at 952-548-8877 or through investor relations via email.
