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Issue Date: Vol. 43, No. 11, November 2003, Posted On: 12/3/2003


Dec. 3, 2003: TouchTunes Third Quarter Results; Video Poker News Roundup

TOUCHTUNES REPORTS THIRD QUARTER LOSS

CHICAGO -- TouchTunes Music Corp. on Nov. 19 reported that it had incurred a net loss of approximately $198,000 during the third quarter of this year, ended Sept. 30. This result contrasts with a net gain of approximately $37,000 for last year's comparable period. A net loss of approximately $1,375,000 was reported for the nine-month period, ended Sept. 30, as compared with a net loss of approximately $136,000 for the prior year's comparable period. Total quarterly revenues increased by 33% (approximately $2,023,000) to approximately $8,110,000 in the third quarter 2003, compared with approximately $6 million in the third quarter 2002. Leasing and financing revenues dropped; but jukebox sales and music services revenues rose by more than enough to make up the difference, officials said. The company has boosted its R&D budget to $250,000 per month.

 

POKER NEWS FROM COAST TO COAST

U.S.A. -- Video poker and slots are back in the news from coast to coast. In the Southeast, police staged raids on private homes in late November, seizing 113 machines in Charlotte, NC, and 10 machines in Hartwell, GA. The homes were allegedly being operated as gambling dens' In Cicero, IL, on Nov. 17, federal agents raided a suburban amusement company that allegedly operates a multi-million dollar video gambling route. Officials say the company is run by a local organized crime family. Tax evasion and bribery of local law enforcement are suspected' In Washington State, which is facing an $800 million budget shortfall in 2005-2006, some lawmakers and a small business coalition want to allow video lottery terminals in bars and restaurants. Such lottery expansion would generate over $300 million for the state, backers say. A similar proposal failed to pass last year.

 


The material here is from "Ahead of the Times, VT MUSIC & GAMES," an electronic supplement that instantly delivers the latest news in the coin-op music and games industry. If you would like to receive Ahead of the Times by e-mail, or know someone who would, send a request along with the recipient's e-mail address and company name to alicia@vendingtimes.net ; Subject: "SUBSCRIBE: AHEAD OF THE TIMES MUSIC & GAMES." Subscriptions to the newsletter may only be requested by e-mail. Your request may not be fulfilled if the subject line field is incorrect or incomplete.

 


Topic: Ahead of the Times: Music and Games

Articles:
  • NOVEMBER 20, 2006: Stories from the November, 2006, Ahead of the Times (Music & Games edition) email news dispatch…
  • NOVEMEMBER 13, 2006: Stories from the Ahead of the Times (Music & Games edition) email news dispatch…
  • AUGUST 17 NEWS: Raw Thrills, Play Mechanix Merge; Florida Jury Approves Adult Redemption; Merit Organizes Raids; AAMA President Forecast
  • AUGUST 14, 2006: Illinois To Pay Court Costs To Home Video Game Industry; Verdict Expected Today In Florida Gaming Arcades Trial; ICMOA Broadband Seminar; Target To Sell Mini-Jukebox; VNEA Charter Holders Workshop
  • JUNE 5, 2006: Lower CD Rates Possible In Future, Says AMOA Official; Global VR Finalizes UltraCade Purchase; Photo-Me Inc. Acknowledges Potential Suitor; Stinger Report Moves To Free Subscription Model; Downloading Jukes Make Wall Street Journal, Again

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