Despite achieving a three-fold increase in revenue for the third quarter of fiscal 2007, electronic casino products giant PokerTek has booked a loss of 77 per cent, as continued investment into new markets served to erode the company's bottom line.
PokerTek, which was recently awarded a contract to install 12 tables at the Mohegan Sun casino in Uncasville, Connecticut, said revenues for the third quarter increased 350 per cent to US$1.1m from $0.2m in the same period last year.
Net loss, however, increased 77 per cent to $4.1m, compared to $2.3m in the third quarter of 2006. The company’s gaming table count increased to 131 at September 30, 2007, a 524 per cent increase over last year.
“PokerTek continues to invest in the development of new markets for both automated casino poker tables and amusement devices,” the company said in a statement. “As such, expenses exceeded revenues in the third quarter…resulting in a net loss.”
