MINNETONKA, Minn., Dec. 23, 2010 /PRNewswire-FirstCall/ -- Table Trac, Inc. (OTC Bulletin Board: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, today announced the election of Michael I. Connolly and Steve Browne to the Company's Board of Directors, effective immediately. The new Board consists of five members, including three independent directors. Mr. Connolly was elected Chairman of the Board and will also serve as head of the Audit Committee; while Mr. Browne will serve as the Chairman of the Compensation Committee. In keeping with the goal of an independent board, Glenn Goulet resigned his position from the Board and will continue to serve as Executive Vice President of Table Trac.
Mr. Connolly has over 25 years experience helping business leaders and owners create exceptional value for companies in transition by combining business development skills and financing capabilities. Mr. Connolly is responsible for capitalization, leadership development, profit and loss and exit strategies for client companies. He is expert at developing teammates through goal alignment and helping them to deliver their collective best. As founder of Mount Juliet Ventures, he consulted for successful private and public national companies including Softbrands, ElderLife, BuyerZone, Insignia Systems, ElderCarelink, Jamba Juice, Great Clips for Hair, Chili's, SuperCuts and The Hotel Donaldson. Previously, Mr. Connolly was Chief Operating Officer of Trammel Crow Company, where he restructured over $300 million in commercial debt. He was the founder and President of the Tax and Business Services Division at American Express, Inc. where he grew revenues from zero to $25 million in three years. Mr. Connolly began his career with McKinsey and Company as a management consultant.
Mr. Browne has been involved in the gaming industry since the late 1970's and worked for such companies as Del Webb's Sahara Tahoe, the Eldorado, and Club Cal-Neva in northern Nevada. He worked in many positions at all levels, primarily in the area of table games management and operations. In 1988 Mr. Browne and two partners purchased Cactus Jacks Casino in Carson City, Nevada. He spent the next ten years as Treasurer and General Manager of that property, and was instrumental in developing a unique, customer-driven marketing and service program that transformed an underperforming casino to a property that delivered seven years of double-digit growth. Subsequently, Mr. Browne has developed a successful consulting practice specializing in the areas of customer service, player development, and casino operations. He works extensively with casino clients across North America and overseas. Mr. Browne is the author of two books, Gambling And Service: The Complete Book On Casinos, Customer Service, And Selling An Entertainment Experience That Enriches People's Lives, and The Math of Player Development. He is also the author of several complete Service and Sales Training Programs for gaming employees and managers. Mr. Browne has been instrumental in leading the charge to developing customer service and customer-focused marketing as a competitive edge in today's fiercely contested gaming markets. In addition to his gaming work, he also is owner and President of The Carson Cigar Company, a combination retail tobacconist and cigar bar in Carson City, Nevada.
Chad Hoehne, Table Trac President and CEO commented, "Michael is a seasoned professional who brings a wealth of financial skills and exceptional capital markets experience to our board and Steve adds significant experience and a lifetime of industry contacts to Table Trac. I know we will immediately benefit from their extensive backgrounds on our Board of Directors as we look forward to benefiting from their combined counsel as we continue to create shareholder value."
Association of Gaming Equipment Manufacturers
In addition, Table Trac was recently admitted in the Association of Gaming Equipment Manufacturers, an international trade association representing manufacturers of electronic gaming devices, systems, and components for the gaming industry. The Association works to further the interests of gaming equipment manufacturers throughout the world, through lobbying, tradeshow partnerships, and information dissemination. More information on the association can be found at www.agem.org.
"Joining the Association of Gaming Equipment Manufacturers serves as additional validation of Table Trac and will help us as we create and develop new technologies for the gaming industry," Mr. Hoehne added.
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. develops and sells casino information and management systems. The company provides system sales, installation, training, as well as license and technical support to casinos. The company has systems installed in North, South, and Central America.
More information is available at http://www.tabletrac.com/.
Forward Looking Statements
Statements made in this press release, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute "forward-looking statements" within the meaning of the federal securities laws. These certain statements are based on our assumptions and estimates and are subject to risks and uncertainties. You can identify these forward-looking statements by words like "strategy," "expects," "plans," "believes," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. For these statements, we claim the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.
For further information on factors that could impact Table Trac and statements contained in this press release, reference should be made to Table Trac's filings with the Securities and Exchange Commission, including quarterly reports on Forms 10-Q, current reports on Form 8-K and annual reports on Form 10-K. You can access such filings at http://www.sec.gov.
For More Information
Chad Hoehne, CEO, President & CFO
Table Trac, Inc.
Phone: (952) 548-8877
SOURCE Table Trac, Inc.