PokerTek, Inc. (NASDAQ: PTEK), the industry pioneer and worldwide leader in automated poker tables and related software, is pleased to announce expanded distribution and successful international placements of its new amusement product, Heads-Up Challenge World Series of Poker Edition.
In addition to its established network of twelve distributors in the United States and Canada, PokerTek, has selected Cosmic Video Amusements for distribution in the United Kingdom and Ireland and has entered into an arrangement with Gekay Sales & Service Company, which provides entertainment and games to U.S. Military bases around the world.
Cosmic, an innovative leader in the U.K. industry with over 25 years experience, is eager to offer the product. "This is an exciting game for us and for our customers," said Terry Farr, CEO of Cosmic, which will feature Heads-Up Challenge at the ATEi amusement exhibition in London next month. "Because Heads-Up Challenge is Texas Hold'em, which has become exceptionally popular all across the U.K. and Ireland, we believe that this table has a tremendous market potential for the amusement space."
Gekay is a respected leader in coin operated and amusement devices targeting both commercial and military markets. PokerTek and Gekay's arrangement is focused on U.S. Military bases worldwide.
In addition, PokerTek's international distributors have installed initial units in both Canada and Australia, with the Australia and New Zealand market being distributed by Aristocrat Leisure Limited.
These developments come as more and more Heads-Up Challenge units make their way into the U.S. market. As patrons discover the tables for the first time, establishment owners have been thrilled by the response.
"The instant success of Heads-Up Challenge has been phenomenal," said Joe Locke, owner of The Score Restaurant and Sports Bar in Grand Rapids, Michigan. "Each week the game is growing more and more popular."
"We're pleased with the initial feedback from the market," said James Crawford, President of PokerTek. "Demand from our distributors has been strong and the news from the field has been terrific."
PokerTek expects supply from its Taiwanese manufacturing partner to begin in Q1 2008.
About PokerTek, Inc.
PokerTek, Inc. (NASDAQ: PTEK), headquartered in Matthews, NC, develops and markets PokerPro and PokerPro Heads-Up, automated poker tables and related software applications developed to increase casino revenue, reduce expenses and attract new players into poker rooms. PokerTek entered the amusement space by introducing Heads-Up Challenge, a heads-up poker table for bars and restaurants that targets adults who play for amusement only. PokerPro tables are located in the United States, Macau, Panama, Germany, Australia, South Africa and several major cruise lines. For more information, please visit the company's website at www.pokertek.com or contact Tracy Egan at 704.849.0860 x106.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. The forward-looking statements herein include, but are not limited to, the expected adoption of the PokerPro systems by casinos and other customers and the expected acceptance of the PokerPro systems by players. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
