Jackpot Digital Sees Improving Results

Rhea-AI Summary

Jackpot Digital Inc. reported its highest revenues since February 2020, achieving CAD $125,337 in July 2022. This improvement is attributed to the easing of COVID restrictions, leading to increased bookings in the cruise and casino gaming sectors. CEO Jake Kalpakian noted a growing interest in their products amid rising inflation and a labor shortage in the casino industry. The company's dealerless technology positions it well to capitalize on automation trends, enhancing revenue while reducing costs.

Positive

• July 2022 revenue reached CAD $125,337, highest since February 2020.
• Increased bookings in cruise and casino gaming sectors due to relaxed COVID restrictions.
• Growing interest in products amid labor shortages in the casino industry.
• Dealerless technology attracts operators looking to increase efficiency and reduce costs.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 25, 2022 / Jackpot Digital Inc. (the "Company" or "Jackpot") (TSXV:JJ) (TSXV:JJ.WT.B) (TSXV:JJ.WT.C) (US OTCQB:JPOTF) (Frankfurt Exchange:LVH3) is pleased to announce that July 2022 marked the highest revenue month recorded by the Company since February 2020.

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

President and chief executive officer Jake Kalpakian stated, "As COVID restrictions are easing, we are experiencing improving results. Last month we recorded CAD $125,337 in revenues, making July our best month of revenues from the cruise segment 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 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 Jackpot Blitz's innovative dealerless technology, 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/713417/Jackpot-Digital-Sees-Improving-Results

FAQ

What revenue did Jackpot Digital report for July 2022?

Jackpot Digital reported revenues of CAD $125,337 for July 2022.

Why did Jackpot Digital's revenue increase in July 2022?

The increase in revenue is attributed to the easing of COVID-related travel restrictions and a rise in bookings from the cruise and casino gaming industries.

What technology is Jackpot Digital focusing on to improve operations?

Jackpot Digital is focusing on its dealerless technology, which enhances casino operations by increasing hand-dealing capacity while reducing costs.

How does the labor market affect Jackpot Digital's business?

The ongoing labor shortage in the casino industry has made Jackpot Digital's products more attractive, as they help operators address staffing challenges.

What are the future expectations for Jackpot Digital's revenue growth?

CEO Jake Kalpakian expects the positive revenue trend to continue as restrictions ease and interest from the land-based casino segment grows.