****************** CORRECTION! ****************
GamingToday on Wednesday reported that MGM MIRAGE casinos were contemplating adding several PokerTek automated tables to one or more Las Vegas properties. But, according to MGM MIRAGE officials, the company instead is considering adding non-gaming PokerTek products for promotional purposes. GamingToday regrets the error and will report further updates as they occur.
PokerTek, Inc. announced this week it is expanding the number of automated poker tables in Nevada, despite an economic slowdown that put a damper on first quarter earnings.
Last weekend, Mountain View Casino in Pahrump opened its new poker room with two new PokerPro electronic tables, the first Nevada installations since PokerPro was approved by the Nevada Gaming Commission in March.
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The Mountain View electronic tables join 12 PokerPro tables that were installed at the Excalibur Hotel/Casino last year. They were part of PokerPro’s field trial prior to licensing.
GamingToday has also learned that PokerPro tables will soon be installed at the prestigious Mirage and Bellagio poker rooms in Las Vegas.
"We accomplished a great deal this quarter in the face of a tough economic climate," said Chris Halligan, PokerTek’s CEO. "We received formal product approval from the Nevada Gaming Commission in March, which is a huge milestone for a gaming company and was the culmination of over two years of effort. We also completed successful installations at Harrah’s Cherokee in North Carolina and Indiana Live and Hoosier Park in Indiana."
Halligan is hopeful the expansion of automated tables in Nevada will eventually pay off in financial operating results. On Monday, PokerTek reported a first quarter loss of about $1.8 million (actually a 15 percent improvement over a year ago), based on first quarter revenues of $2.1 million, down 33 percent.
Revenues consist of $700,000 in product sales, a decrease of 55 percent, and licensing and servicing fees of $1.4 million, a decrease of 9 percent from the first quarter of 2008.
Question? Comment? E-mail me at: David Stratton