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PokerTek results show increased losses

 
/2007-11-13/

PokerTek reported a year-on-year increase in net loss for the third quarter of 77 per cent to $4.1 million, despite seeing revenues rise by 350 per cent, to $1.1 million, for the period. Net loss for the nine months of 2007 increased 55 per cent

Chief executive officer Chris Halligan said that revenue growth for the company had been primarily driven by increased license fees and product sales of PokerPro casino tables, adding that the company currently had 131

PokerPro casino tables installed worldwide including the world’s largest fully automated poker room – running exclusively on PokerTek poker tables – at Four Winds Casino Resort in Michigan.

"Our growth in the casino space is on track,” he stated. "Q3 also marked the first shipments of Heads Up Challenge, World Series of Poker edition, our new amusement product. Early field reports from restaurants and bars are encouraging."

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