PokerTek reports third quarter 2010 operating results

Net loss per share from continuing operations improved by 55% for the third quarter and 59% year to date. Positive cash from operating activities – first cash flow positive quarter.
PokerPro tables increased to 235 from 174 year over year.

Mark Roberson, Chief Executive Officer and Chief Financial Officer commented: “Our operating results improved significantly as we continued to execute our strategic plan. We increased market penetration and expanded our margins while controlling operating expenses. As a result, our operating metrics continued to trend upwards and cash flow hit the black for the first time in company history.”

“We are growing in our target markets, entering new markets and preparing to launch new products to further expand our growth opportunities. Specifically, we are: Expanding penetration in our current markets, particularly Mexico, where we have quickly become the dominant poker supplier. Our pipeline is solid and we expect continued growth in these markets”, he added.

The firm targeted several promising new markets for expansion, notably Franc,e with over 200 casinos, many electronic, where PokerPro recently became the first electronic poker table to be approved by the Minister of the Interior. It will also unveil its new eBlackjack game on the ProCore platform at the Global Gaming Exposition in Las Vegas this month.

“It’s an exciting time for PokerTek and we look forward to capitalizing on these opportunities to drive profitable growth,” concluded Robertson.