Jackpot Digital Continues To See Improving Results

Rhea-AI Summary

Jackpot Digital Inc. (OTCQB:JPOTF) reported record revenues of CAD $128,566 in August 2022, the highest since February 2020, attributed to the easing of COVID-19 restrictions. The company noted significant growth in bookings from the cruise ship sector and strengthening interest in the land-based casino segment.

CEO Jake Kalpakian highlighted the demand for their innovative dealerless technology, Jackpot Blitz®, which allows casinos to enhance revenue while reducing operational costs amidst industry-wide labor shortages.

Positive

• Record monthly revenues of CAD $128,566 in August 2022, the highest since February 2020.
• Increased bookings attributed to the easing of COVID-19 travel restrictions.
• Growing interest from the land-based casino industry enhancing business opportunities.
• Jackpot Blitz® technology offers casinos cost reductions and the potential for increased revenue per hour.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 21, 2022 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSXV:JJ)(TSXV:JJ.WT.B)(TSXV:JJ.WT.C)(OTCQB:JPOTF)(Frankfurt Exchange:LVH3) is pleased to announce that August 2022 set a new high for monthly revenues recorded by the Company since February 2020.

The Company attributes its strengthening revenues to the general relaxation of COVID-19 related travel restrictions resulting in a significant uptick for bookings as noted by the major operators of the cruise ship and casino gaming industries.

President and chief executive officer Jake Kalpakian stated, "As COVID-19 restrictions are easing, our financial results continue to improve. During August 2022, we generated CAD $128,566 in revenues from the cruise ship industry segment, making it the highest revenues generated to date since February 2020, which was the last full month of operations before sweeping COVID-19 restrictions took effect. We expect this positive trend to continue as restrictions ease."

Mr. Kalpakian continued, "Furthermore, our order interest from the land-based casino industry segment is growing and is building momentum. Our pipeline of new business is getting stronger and attributable to a broader range of casino operators. Inflationary salary pressures, combined with the significant shortage of dealer/casino employees, has made our product more attractive than ever before, and the company is uniquely positioned to take advantage of the macro trend toward automation in the casino industry. Through the innovative dealerless technology of Jackpot Blitz®, casinos are quickly recognizing the benefits of more revenues by dealing more hands per hour while at the same time drastically reducing costs and eliminating operational/employee requirements all at once."

About Jackpot Digital Inc.

Jackpot Digital Inc. is a leading electronic table games manufacturer for the cruise ship industry and regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complemented by a robust suite of backend tools for operators to efficiently control and optimize their gaming business.

For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681- 0204 ext. 6105, or visit the Company's website at www.jackpotdigital.com.

On behalf of the Board of Jackpot Digital Inc.,

"Jake H. Kalpakian"____
Jake H. Kalpakian,

President & CEO

Trading in the securities of the Company should be considered speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Certain statements contained herein are "forward-looking". Forward-looking statements may include, among others, statements regarding future plans, obtaining the customary regulatory approvals for new customers, projected financings, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this News Release, words such as "may", "would", "could", "will", "likely", "enable", "feel", "seek", "project", "predict", "potential", "should", "might", "objective", "believe", "to be", "expect", "propose", "anticipate", "intend", "plan", "plans" "estimate", and similar words are used to identify forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, projections and estimations, there can be no assurance that these assumptions, projections or estimations are accurate. Readers, shareholders and investors are therefore cautioned not to place reliance on any forward-looking statements as the plans, assumptions, intentions or expectations upon which they are based might not occur.

SOURCE: Jackpot Digital Inc.

View source version on accesswire.com:
https://www.accesswire.com/716804/Jackpot-Digital-Continues-To-See-Improving-Results

FAQ

What were Jackpot Digital's revenues in August 2022?

Jackpot Digital recorded revenues of CAD $128,566 in August 2022.

How has COVID-19 impacted Jackpot Digital's business?

The easing of COVID-19 restrictions has contributed to a significant increase in bookings and revenues for Jackpot Digital.

What technology is Jackpot Digital promoting for casinos?

Jackpot Digital promotes its dealerless technology, Jackpot Blitz®, which increases the number of hands dealt per hour while reducing costs.

What industry is Jackpot Digital primarily involved in?

Jackpot Digital is primarily involved in the cruise ship and regulated casino industries, specializing in electronic table games.