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TheStreet Open House

PokerTek's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: PTEK

The growth in gaming positions for Q2 including the following key markets. First, we added 70 gaming positions in the U.S including 50 additional positions in Harrah's Cherokee's New Poker Room, bringing the total at Cherokee to 150 gaming positions. This is [inaudible] noteworthy as it comes just after the proudly received approval off of manually dealt games for the first time. Both the operator and players have come to appreciate the advantages of PokerPro and prefer electronic poker over manually dealt games. The decision to make PokerPro the heart of their new expanded game environment speaks volumes.

We also continued to expand in Ontario where we added 60 PokerPro gaming positions at two additional sites and added six ProCore positions. This brings the total number of PokerPro player positions installed in Ontario at the end of the Q to 90 positions at 30 sites. As we continue to roll out PokerPro to additional sites in Ontario, early indications show phenomenal player adoptions from both casual and experienced poker players making these some of the highest performing PokerPro tables ever installed.

The ProCore blackjack installation marks the beginning of field trials for that product in Ontario. We expect to complete field trial in Q3 with additional installations expected to begin in the second half of 2012.

We also installed games at locations in the Caribbean, France, on cruise ships and other parts of Europe. Looking ahead to the second half of 2012, we have a robust pipeline of product installations planned and expect the installations currently scheduled, especially those in Canada and the United States, to drive recurring revenue growth.

In addition, we are also planning new installations in South America and expect to expand our presence in France. ProCore blackjack will complete field trials in both Ontario and France during the second half and we expect installations to begin immediately upon approvals in those markets. France has good market potential but it comes with long sales approval cycles.

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

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