Table Trac system revenue increases 125% year-over-year for Q2

The company completed the installation of two systems during the quarter, while systems in new and current locations underwent expansion as well.

Table Trac has reported the company’s financial performance throughout the second quarter of 2024, including system revenue and net income increases. 

System revenue for the second quarter of 2024 was reported to be $2m, an increase of 125% from the prior year period. Net income increased by just under 41.2% year-over-year, having been reported to be just over $806k. 

Gross profit for the company increased from its reported figure of $1.87m for the second quarter of 2023 to just under $2.5m for Q2 2024. 

Table Trac also announced it completed the installation of two systems during the quarter, as well expanding its systems in new and current locations. The company has four customer contracts in backlog as of June 30, 2024 and anticipates that the majority of these contracts will be installed within the next two quarters. As of the filing date of its Q2 2024 report, Table Trac has signed one new contract.

In recent company news, CasinoTrac, which is operated by Table Trac, will be deploying a major project involving strategic upgrades at the WinnaVegas Casino Resort, operated by the Winnebago Tribe of Nebraska. 

The project will coordinate system upgrades, new promotional kiosks and mobile technology to consolidate disparate systems and launch cashless wagering at the property.

WinnaVegas will deploy multiple new KioskTrac Loyalty Kiosks and KTMobile, CasinoTrac’s native mobile application with fully integrated cashless wagering functionality enabled by Koin.

Table Trac is coming off its highest annual gross profit as well, having reported a total of $7m generated throughout 2023. Along with its gross profit results, Table Trac posted an all-time high in reoccurring revenue, which increased by 42% year-over-year during 2023.

Kirk Geller

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