Despite Revenue Boost, PokerTek Posts Loss for 2008

23 February 2009

Although North Carolina-based PokerTek Inc. revealed a 260 percent year-over-year revenue boost to $14.4 million, its net loss for 2008 was at $7.6 million.

The loss was a 41 percent improvement when compared to 2007. The significant spike in revenue was driven by the solid performance from the PokerPro and Heads-Up Challenge table games, the company said.

For the fourth quarter, the automated poker tables provider brought in $3.1 million and posted a net loss of $1.8 million.

Christopher J.C. Halligan, the company’s chief executive called 2008 a successful year for the company.

“We continued to validate the market for automated poker,” Mr. Halligan added. “We have a solid foundation as we enter 2009 and are working hard to capitalize on the large opportunities in front of us.”