EmergingGrowth.com Reports on Emerging Growth in Gaming for 2013
MIAMI, December 27, 2012 /PRNewswire/ --
EmergingGrowth.com, a leading digital financial media company, Reports on PokerTek, Inc. (NASDAQ: PTEK)
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Founded in 2003, PokerTek is looking forward to a first time positive earnings per share number for 2013. The company has a dominant position in, electronic Poker, as well as a growing presence in emerging markets such as Mexico and South American. The company also expects to be entering Macau for the first time among other emerging growth gaming companies such as Melco Crown Entertainment (NASDAQ: MPEL).
Among the top of the food chain gaming giant Wynn Resorts (NASDAQ: WYNN), today there are more than 30 different casinos in Macau. HSBC Holdings and Citigroup are both bullish on Macau's gaming sector for 2013. They are forecasting 13% and 10% growth respectively for the coming year based on a mass gross gaming revenue increase of 25% and a gradual recovery in VIP revenue. Citigroup also selected Sands China, a subsidiary of Las Vegas Sands (NYSE: LVS) as one of its 2013 picks.
PokerTek only has 8 million shares outstanding and is currently operating with greater than 70% gross margins, and driving 20% growth. They have reduced operating expenses by 29% and the stock is gaining investor confidence and beginning to uptick. Compared to its peers and other industry related companies such as, like Boyd Gaming (NYSE: BYD) and MGM Resorts (NYSE: MGM) we feel the company is undervalued and we believe PokerTek could approach the $2.00 mark in the near term.
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