MIAMI, December 21, 2012 /PRNewswire/ --
EmergingGrowth.com, a leading digital financial media company, Reports on PokerTek, Inc. (NASDAQ: PTEK)
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PokerTek, Inc. (NASDAQ: PTEK), EmergingGrowth.com Stock Pick
Founded in 2003, PokerTek (NASDAQ: PTEK) develops and markets products for the gaming and amusement industries. We at EmergingGrowth.com feel that the company is in the right industry at the right time and is poised for explosive growth.
In the past week alone, the company papered three major announcements and the stock is beginning to gain the respect of the investment community. They announced their Distribution network for Latin American Markets; the fact that their "Poker Pro" product, which represents over 17% annualized recurring revenue, is back on the floors in Mexico; and a 78% increase in Blackjack Pro tables in Ontario, Canada.
PokerTek currently has approximately 8 million shares outstanding and has operated with greater than 70% gross margins two years running, and their momentum is driving 20% sequential quarterly growth. The company is expecting to turn EPS positive with their dominant position in, electronic Poker, as well as their growing presence in emerging markets such as Mexico and South American. The company will also be entering Macau for the first time.
PokerTek has reduced operating expenses by 29% from prior years as well as their head count in order to streamline operations and turn the company EPS positive.
Compared to its peers such as International Gaming Technology (NYSE: IGT) Bally Technologies (NYSE: BYI), SHFL Entertainment (NASDAQ: SHFL) and WMS Industries (NYSE: WMS), all trading at an average of about 18 times earnings, PokerTek's modest valuation makes it an attractive stock for investing as well as a potential future takeover target by one of the bigwigs.
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