Key Points:
- Andrew T. Berger, with experience across multiple industries, joins Table Trac’s Board of Directors
- Table Trac reported a 125% increase in system revenue for Q2 2024
- The company continues expanding its CasinoTrac system, including a major project at WinnaVegas Casino Resort
Table Trac has announced the appointment of Andrew T Berger to its Board of Directors. The decision, approved by the company’s Board on 3 October 2024, adds Berger’s experience to the leadership team at a time of strong financial growth for the company.
Berger has served as a director and executive at several companies. Most notably, he was Executive Chair and CEO of Autoscope Technologies Corporation and held leadership roles at Tuesday Morning Corporation and Cosi.
He is currently the Managing Member of AB Value Management and has been involved in business consultancy and investment management.
Berger commented, “I look forward to the opportunity to be a member of the Table Trac Board. I believe it is a great time to join the Table Trac team and I am excited to contribute to the expansion and growth of their business.”
This addition to the board comes during a period of financial success for Table Trac. The company reported a 125% increase in system revenue for the second quarter of 2024, reaching $2m, compared to the same period in 2023.
Net income also saw a significant increase, growing by 41.2% year-over-year to just over $806,000. Gross profit for the quarter rose to nearly $2.5m, up from $1.87m in Q2 2023.
Table Trac has also been expanding its CasinoTrac system in both new and existing locations. The company completed two system installations during the second quarter and has four customer contracts in backlog, most of which are expected to be completed in the coming months.
Additionally, the company recently signed a new contract as it continues its expansion efforts.
One of the major projects underway is the deployment of upgrades at the WinnaVegas Casino Resort, operated by the Winnebago Tribe of Nebraska. The project includes system upgrades, the installation of KioskTrac Loyalty Kiosks and the integration of cashless wagering technology through CasinoTrac’s KTMobile app.
Table Trac is building on its financial performance in 2023, during which it achieved its highest annual gross profit of $7m and saw a 42% increase in recurring revenue.
