Pokertek, Inc. (NASDAQ:PTEK)
The Company is engaged in developing and marketing the PokerPro system, electronic poker table that provides a fully-automated poker-room environment, to tribal casinos, commercial casinos, cruise ships and card clubs.
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It's one thing that they are losing money. It's another that their CFO was engaged in fraud.
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Unique idea. Lots of potential
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While the boom of 4 years ago has cooled off, there is still a tremendous market of casual players. In addition, there are almost no electronic tables, and they are far more profitable than traditional tables. In addition, PTEK has setup a lease program, which will allow them to maintain a constant cash flow instead of selling a system for a 1 time gain. Finally, they are expanding into bars as an adult video game system. They are the ground level company for a 30 year-old market with a product that will revolutionize the industry. I expect to see at least half of the tables in Las Vegas get replaced by this company's product within a few years.
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PTEK has a good track record of products and with the new Heads-Up Challenge table they will continue to grow.
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Capitalizing on Texas Hold'em poker craze with unique machine for bars & restaurants
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