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July 21, 2008: PokerTek, Inc., the industry pioneer and worldwide leader in automated poker tables and related software, announced today that it has teamed with Vend Lease to offer Lucky Sevens, an innovative financing program, for operators of its fast growing Heads-Up Challenge amusement game.
“Even with our rapid growth, we still run into operators that want to try the product but lack the upfront capital to place as many machines as they’d like. This program will make it easier for those operators to get Heads-Up Challenge into more locations sooner,” said James Crawford, PokerTek’s President and Amusement Division General Manager. “Cash flow is king for route operators and Lucky Sevens helps make Heads-Up Challenge a cash flow winner from day one.”
The Lucky Sevens financing promotion is underwritten by Vend Lease of Baltimore, Maryland. The program enables route operators and other game distributors to purchase Heads-Up Challenge with minimal upfront costs and low monthly payments, allowing them to generate higher cash flow from new installations. Participants in the program will make 27 payments, with their first seven payments at only $77 per month.
“This is a great program that directly targets the needs of operators,” said Michael Paszkiewicz, President of Vend Lease. “Heads-Up Challenge is a hot game and we are excited to work with PokerTek to help grow its footprint.”
Lucky Sevens is good through August 31, 2008 and is offered exclusively to qualified applicants in the U.S. through PokerTek’s authorized distributor network. Operators are responsible for one advance payment and a $150 filing fee at contract signing. Initial seven payments of $77 per month are per machine and do not include applicable tax and freight.
Heads-Up Challenge is a two-player electronic poker game designed for entertainment purposes for bars and restaurants. Launched in late 2007, this new product has generated significant operator interest and contributed more than $1M in revenue to PokerTek during the quarter ended March 31, 2007. Heads-Up Challenge was also selected as a finalist for the AMOA’s prestigious “Most Innovative Award” at the American Music Operators Association show of 2007.
For more details about Heads-Up Challenge contact PokerTek at 888-694-8248; or call your local authorized PokerTek distributor. Finance information may be obtained by calling Vend Lease at 888-363-5327 (x141 Gary Lentz) or glentz@vendlease.net.
About Vend Lease:
As a Direct Funding Source since 1979, Vend Lease is focused on delivering cost-effective financial services solutions to the Coin-Op industry. Vend Lease’s vision is to continue building a premier financial services company in the marketplace by further developing flexible programs that facilitate the needs of a wide range of customers. For more information, please visit the company’s website at www.vendlease.net.