TransAct casino sales decline extends into 1Q
TransAct Technologies Inc reported a 2.6 percent year-on-year decline in casino and gaming equipment sales in the first quarter of 2016 to US$5.4 million.
This was the third consecutive quarter of casino and gaming equipment sales decline for TransAct as measured in year-on-year terms.
Revenue from the segment was negatively affected by lower international casino and gaming revenue, the firm said in a statement issued on Wednesday.
TransAct’s casino and gaming product segment includes ticket printers for gaming machines.
“In the casino and gaming market, we continue to grow domestic share as U.S. sales growth for our Epic 950 printers (pictured) exceeded the growth of the domestic gaming machine market,” Bart Shuldman, chairman and chief executive of TransAct, said in a statement.
He added: “As operators seek to drive revenue growth on their casino floor in an increasingly competitive marketplace, interest in our innovative solution’s ability to target players by printing coupons and promotions in real-time at the gaming device continues to grow.”
In September, TransAct announced an agreement to integrate its Epicentral promotion and bonusing system with Aristocrat Technologies Inc’s Oasis 360 casino management system. TransAct said at the time the goal was to provide casino operators with a comprehensive player reward system.
TransAct’s total net sales revenue for the first quarter of 2016 – including non-gaming related segments – was US$14.4 million, down by 11.2 percent in year-on-year terms. Casino and gaming sales were the main revenue contributor, accounting for 37.9 percent of the total.
Net income in the three months ended March 31 was US$625,000 compared to US$144,000 in the prior-year period.
TransAct on Wednesday announced its board of directors declared a quarterly cash dividend of US$0.08 per share. The dividend will be payable on June 15 to shareholders of record at the close of business on May 20.
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