Table Trac Partners with Tahoe Nugget Casino
In a significant development for the gaming industry, Table Trac Inc., a leading developer of casino information and management systems, has announced a new partnership with the Tahoe Nugget Casino in South Lake Tahoe, Nevada. The casino, operated by Stillwater Gaming, will be installing Table Trac’s CasinoTrac management system.
Chad Hoehne, President of Table Trac, expressed enthusiasm about the partnership, stating, “We are excited again to be the system of choice for Stillwater Gaming as they continue their expansion into the Lake Tahoe area.” This move highlights Table Trac’s growing presence in the gaming sector and its expanding client base.
Scott Tate, a representative from Stillwater Gaming, praised the CasinoTrac system for its reliability and value. He remarked, “When I think about CasinoTrac, I see great value. The system is developed and supported by professionals who are truly focused on the end user – casino guests.” Tate also appreciated the system’s stability, noting that it has been successfully used in many of their casinos. He added, “Additionally, I particularly like the fact that Table Trac is a company dedicated completely to gaming systems. That focus appears to be what drives the quality of the system and the culture of the Table Trac Team.”
Record-Breaking Financial Performance in 2023
Table Trac has reported impressive financial results for the year 2023. The company achieved a record gross profit of $7 million, with a gross margin percentage exceeding 74%. This milestone underscores the company’s robust financial health and successful business strategies.
In addition to the gross profit, Table Trac’s recurring revenue reached $4.9 million, marking a significant 42% increase from the previous year. This growth in recurring revenue highlights the company’s ability to generate stable and predictable income streams, which is crucial for long-term sustainability.
Global Reach and Strategic Expansion
At the close of 2023, Table Trac had casino management systems, table games management systems, and ancillary products installed across 110 casino operators in over 300 casinos worldwide. This widespread installation demonstrates the company’s global reach and its growing influence in the international gaming market.
In line with its expansion strategy, Table Trac also established an office in Las Vegas last year. This move is part of a broader strategy to enhance its presence in key gaming markets and to better serve its growing client base.
Table Trac’s Growth Trajectory
Table Trac’s recent achievements and strategic moves reflect a well-executed growth strategy. The company’s focus on delivering high-quality, user-centric gaming systems has evidently paid off, as evidenced by their expanding client base and increasing revenue figures.
The partnership with Tahoe Nugget Casino signifies a continued trust in Table Trac’s capabilities and a commitment to leveraging advanced technology to enhance casino operations. The company’s record financial performance further highlights its successful business model and operational efficiency.
Table Trac’s partnership with the Tahoe Nugget Casino and its impressive financial results for 2023 underscore the company’s strong position in the casino management systems industry. With a growing global footprint and a commitment to innovation and quality, Table Trac is well-positioned for continued success and expansion in the future.