Gambling on the OTC this morning didn’t work out so well for most, but the Nasdaq listed penny stock of PokerTek, Inc. (PTEK) is an inspiring find to stay at the table a little longer. A consistent trader of relatively low volume, PTEK stock is one of the better gainers today on the bigger boards. Having just recently reported an increase in licensing and servicing fees, coupled with a decrease in new sales of systems and equipment, finding the bright side of summer is not as easy as it is in spring.
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PTEK Stock Quote
Market Cap: 11.36M
Last: 1.25 ▲ +0.11 (+9.65%)
Issued and Outstanding: 9,085,498
1st Resistance Point: 1.2167
1st Support Level: 1.2667
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With 2,240 PokerPro and 150 ProCore gaming positions deployed worldwide as of March 31, 2013, the chances of you seeing a PokerTek table at a casino are pretty average. However, sales for the electronic poker table supplier have been slipping for some time now, at least for the first quarter.
Revenues for Q1, 2013 came in at $1,391,121 versus $1,677,937 for the same period in 2012. The decline of -17% better viewed when comparing Q1, 2013 with Q1, 2011: $1,964,362, roughly a -30% decline when comparing Q1, 2013 versus Q1, 2011. During the same time frame, PTEK stock has dropped from its current level to as low as 0.46 in December, 2011 which proves that revenues are driving the share price.
Back in late March, PokerTek renewed its contract with Carnival Corporation (NYSE: CCL) & plc through December 2017. At least, if the world’s largest cruise operator can stuff their boats this summer, Carnival Cruise Lines, Holland America Line, Princess Cruises, Costa Cruises, Cunard and P&O Cruises, PokerTek could see their bank roll grow again instead of having to raise capital by selling PTEK stock in private placements.
About PTEK Stock
PokerTek, Inc. is engaged in the business of developing, manufacturing and marketing electronic table games and related products for casinos, cruise lines, racinos, card clubs and lotteries worldwide.
Click here to view the SEC filings for PTEK.
Click here to view the website for PokerTek.
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Still willing to gamble on penny stocks during the slow summer trading sessions? Perhaps a seat at the PTEK table one of these days will be where traders converge to shove a couple of aces into the portfolios of those still playing.
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