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US – TableTrac gains momentum as COVID restrictions ease

By - 1 April 2022

Table Trac (TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, saw its revenues increase to $6,966,683 in 2021 from $4,401,441 in 2020 as the casino industry resumed normal business activity a result of the easing of the COVID-19 pandemic.

Total operating expenses decreased from $3,670,912 in 2020 to $3,562,000 in 2021.  This decrease was primarily driven by the approximate $523,000 or Employee Retention Credit received during 2021.  The company did resume a more normal pattern of marketing, including attending the industry’s gaming and tradeshows.

“2021 for Table Trac Inc was a year of regaining momentum to levels the company had prior to the industry shutdowns and we retained our talented staff during those times, allowing us to quickly return to our course,” said Chad Hoehne, Table Trac’s President & CEO. “We are solidly on the right track, expanding and supplying our customers without interruption with a full schedule of installations coming into 2022.”   

Table Trac, Inc CFO Randy Gilbert commented: “As expected, our overall topline was up for the year, which was a direct result of the easing of COVID restrictions. Our sales team is gaining momentum, driving new customers and deepening relationships. We ended 2021 with ten new installations and eight customers in our backlog. We expect most of the backlog to be installed by the end of Q2 2022.  Other sales, which included DataTrac and kiosk related products grew 225 per cent compared to 2020 and accounted for more than eight per cent of our total revenue in 2021. Looking at our costs, the optimization measures we implemented during 2020 and continued throughout all of 2021 have made us a more nimble and efficient organization, reflected by strong margins and reduced operating expenses, we expect to continue this model in 2022.”

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