MATTHEWS, N.C., Oct. 3, 2011 /PRNewswire/ -- PokerTek, Inc. (NASDAQ: PTEK) today announced that its Board of Directors has appointed Joseph Lahti to serve as Chairman of the Board effective October 1, 2011. Mr. Lahti has been a member of the Board of Directors since 2006 and also serves on the Audit, Governance and Compensation Committees.
As Chairman of the Board, Mr. Lahti will have an increased role in providing guidance for PokerTek's strategic planning and long-term capital planning activities. Lyle Berman, who has served as Chairman of the Board since the Company's inception, will continue to serve as a member of the Board, including as a member of the Audit, Governance and Compensation Committees of the Board.
"PokerTek has established itself as the industry leader in electronic poker. With its new ProCore platform, PokerTek has now gained access to the blackjack and specialty electronic table markets. Both products provide the opportunity for significant high margin recurring revenue growth," said Joe Lahti. "I am excited about my increased involvement with the PokerTek team and hope my past experiences will prove useful in creating shareholder value."
Lyle Berman, Chairman of the Board, stated, "Joe has been a tremendous asset to our Board over the past five years. His leadership will enhance the management team's ability to drive profitable growth."Mr. Lahti has served on PokerTek's Board of Directors since March 2006. Previously, he held the positions of President, Chief Executive Officer, and Chairman at Shuffle Master, Inc., a gaming-supply company to the casino industry. As recently as 2010, Joe was the CEO of a private company that designed and patented a specialty gaming device which was successfully sold to a gaming equipment company. He has also served on the board of public companies, Zomax, Inc. and Voyager Oil & Gas, Inc. Mr. Lahti is also President of JL Holdings, through which he provides funding and management leadership to numerous private companies. Mr. Lahti received a B.A. degree in economics from Harvard University. About PokerTek, Inc. PokerTek, Inc. (NASDAQ:PTEK) is a licensed gaming company headquartered in Matthews, NC that develops and markets electronic table game solutions for the gaming industry. www.PokerTek.com. Please direct questions to Tracy Egan 704.849.0860 x106. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, the impact of global macroeconomic and credit conditions on our business and the business of our suppliers and customers, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures, and our financial condition, including our ability to maintain sufficient liquidity to operate our business. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.