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PokerTek's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: PTEK

We believe that if electronic tables are allowed back on the floor next year, the market will be more concentrated as a result of the removal of illegal operations, especially where manual games are being dealt. As a result, if the government allows e-tables back on the floor, we expect the market to have fewer operators and those installations should generate revenue and margins more in line with our other markets.

Outside of Mexico, we have several significant opportunities in the pipeline. Throughout our markets we have a dominant position in automated poker, and we estimate the addressable market to be approximately 8000 to 10,000 gaming positions. We have limited competition in this niche market, and we believe we have room to increase our installed base by a factor of three or more in our target markets over time.

Near time there are several meaningful placement opportunities teed up and James will elaborate on those specific markets in a few moments. The ProCore platform for house bank Blackjack and specialty games also creates significant placement opportunities for growth and product diversification. We are approaching the house bank e-tables market in a two-phased approach. First we will continue to deploy the account-based version with Blackjack to cruise ships, and also to select markets in Europe where TITO and GOI [ph] approvals are not required.

We have identified specific near-term installation targets estimated at 600 to 900 player positions for the account-based version. Second we plan to submit the SAS/TITO version of the ProCore table to GOI for regulatory approval in the coming weeks. Once approved the SAS/TITO version of the ProCore table opens larger gaming markets for Blackjack and additional specialty games in regulated markets.

Read the rest of this transcript for free on seekingalpha.com

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