Players Love How the PokerPro Table Speeds Up Play, Eliminates Mistakes - Sunday 4th of December 2005
Riding the huge wave of
poker popularity, PokerTek, Inc. (Nasdaq: PTEK) has installed its PokerPro(TM)
tables at four additional casinos in the months of October and November.
After installing tables at its Hollywood, Fla., Seminole Hard Rock Hotel
and Casino earlier this year, the Seminole Tribe installed PokerPro tables at
a second facility, the Seminole Hard Rock Hotel and Casino in Tampa, Fla.
In addition to the four PokerPro tables at its Winstar Casino, the
Chickasaw Tribe of Oklahoma installed PokerPro tables at two additional
casinos and has ordered tables for its fourth casino. With this installation,
scheduled for early December, PokerTek will have a total installed base of 21
According to Charlie Lombardo, senior vice president of gaming operations
for the Seminole Tribe of Florida, "PokerPro will increase the profitability
of our poker rooms, so we are thrilled to be installing PokerPro tables in
another one of our six poker rooms. We believe PokerPro has a future in all
poker rooms. Once players try it, many prefer it to manual poker tables. Its
also a great way to introduce new players to the game."
PokerPro provides casinos the opportunity to enter the poker business with
minimum start-up costs and the opportunity to achieve increased profitability
by reducing the labor intensive nature of the poker room and by speeding up
play. PokerPro can also be added to existing poker rooms, giving players an
option between manual tables and the faster-paced, mistake-free PokerPro
PokerPro, a completely new way of playing poker, utilizes electronic cards
and chips, thus combining the interactive benefits of traditional poker with
the advantages of computer and graphics technology. It is gaining rapid
acceptance among players because it speeds up play and delivers more hands per
hour; it eliminates player and dealer mistakes (because there is no dealer);
and it is less intimidating for new players. Theres one other monetary
benefit to the player -- no dealer tipping!
"Poker players can only make money when they are in the hand, and because
of the lightning fast speed of the PokerPro table, they can be in a hand more
often," said Lyle Berman, chairman of the board for PokerTek.
Berman added, "Players cannot bet or fold out of turn or bet an incorrect
amount on the PokerPro table, thereby eliminating the disagreements that can
slow the pace of the game."
The growth of poker over the past two years has been nothing short of
phenomenal. The World Series of Poker, the World Poker Tour (WPT) and other
organizations have exploded the appetite for poker in the United States and
abroad. The American Gaming Association reports that nearly one in five
American adults played poker during the last 12 months, a more than 50 percent
increase from the previous year. Consumer spending on poker has reached new
levels as well. According to the American Gaming Association, in Nevada and
New Jersey (the only states that track poker revenue), Americans spent
$151.7 million on organized poker in 2004, a staggering 45 percent increase
over 2003 figures.
PokerTek, which installed the first PokerPro tables last May, completed an
IPO of its common stock on October 15. With estimates by Casino City Press of
approximately 6,660 poker tables worldwide, PokerTek officials believe that
there are substantial growth opportunities for the company as more and more
players experience the benefits of PokerPro.
PokerTek, Inc. (Nasdaq: PTEK), headquartered in Charlotte, N.C., was
formed to develop and market the PokerPro(TM) system, an electronic poker
table that provides a fully-automated poker room environment to tribal
casinos, commercial casinos and card clubs. The PokerPro(TM) system is
designed to increase casino revenue by increasing hands per hour, while
helping to reduce the labor costs within poker rooms. The PokerPro(TM) system
is also designed to increase players gaming experience by increasing the pace
of play, eliminating dealer and player mistakes, and eliminating the need for
For additional information about PokerTek and PokerPro, visit
Statements made in this press release, other than those containing
historical information, are forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. The forward looking statements herein include, but are not limited to,
the expected adoption of the PokerPro tables by casinos, the expected
acceptance of the PokerPro system by players, the expected increase in
profitability of poker rooms that install PokerPro tables and the expected
growth opportunities of the Company. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause the Companys
actual results in future periods to differ materially from those set forth
herein. These risks include that casinos may not adopt and install the
PokerPro tables at the rate currently expected by management, players may not
recognize the benefits offered by the PokerPro tables and may not prefer the
electronic tables over manual tables, and casinos may not realize increased
profits as a result of the installation of PokerPro tables. There are
additional risks related to the Companys products and its business identified
in the Companys final prospectus filed with the Securities Exchange
Commission on October 14, 2005. Copies of the Companys filings with the U.S.
Securities and Exchange Commission are available from the SEC or may be
obtained upon request from the Company. The Company does not undertake any
obligation to update the information contained herein, which speaks only as of
this date. In addition, the Company, through its senior management, may from
time to time make forward-looking public statements concerning the matters
described herein. Such forward-looking statements are necessarily estimates
reflecting the judgment of the Companys senior management based upon current
information and involve a number of risks and uncertainties. There can be no
assurance that such factors or other factors will not affect the accuracy of
such forward-looking statements.
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