Table Trac, Inc.
Moat Score — Table Trac, Inc.
Total Moat Score
10 / 30
| Moat Factor | Score | Analysis |
|---|---|---|
| Intangible Assets Patents, trademarks, brand strength, or regulatory licenses that protect a company's products or services from being freely copied by competitors. | 3 / 5 | Table Trac's original CasinoTrac system is built on patented technology for automating and monitoring table-game operations, giving it defensible IP in a narrow slice of casino technology, though its broader CMS suite (DataTrac, SlotSUITE, KioskTrac) competes more on feature parity than unique IP. |
| Cost Advantage A durable ability to produce goods or services more cheaply than competitors — through scale, unique access to cheap inputs, location, or process — that lets a company undercut rivals or out-earn them at the same price. | 1 / 5 | As a roughly 32-employee micro-cap competing against Konami, Light & Wonder, and Everi, Table Trac has no economies of scale in R&D, manufacturing, or sales; if anything its small size is a cost disadvantage relative to these diversified gaming-technology giants. |
| Pricing Power The ability to raise prices without losing meaningful business, because the product or service is differentiated, mission-critical, or has few good substitutes. | 2 / 5 | Recurring maintenance revenue grew 14.4% in FY2025 to a record $6.15 million, showing some ability to raise fees on an installed base, but management itself calls the industry 'intense,' and Table Trac competes on value pricing against better-resourced 'total solution' vendors rather than commanding premium pricing. |
| Network Effect The product or service becomes more valuable to every user as more people or organizations use it, making an established leader harder to displace. | 0 / 5 | CasinoTrac is a single-operator back-office and floor system with no cross-casino or cross-player network effects; one casino's adoption does not make the product more valuable to another casino. |
| Switching Costs The money, time, or operational disruption a customer would face switching to a competitor, which locks in existing customers and supports renewals. | 3 / 5 | Once CasinoTrac is integrated into a casino's table games, cage/vault accounting, loyalty program, and regulatory reporting, ripping it out is disruptive and costly, which is reflected in the company's long-tenured base of 115 operators across 300+ properties and its 55.7%-of-revenue maintenance contract base. |
| Efficient Scale A market that can only profitably support a small number of players, so incumbents face limited threat from new entrants even without other defenses. | 1 / 5 | The casino-management-system market comfortably supports several large, well-capitalized competitors (Konami SYNKROS, Light & Wonder, Everi, Agilysys) alongside Table Trac, so there is little evidence the niche is too small to attract further competition; Table Trac survives by serving an underserved segment of smaller and tribal casinos rather than by market-size exclusion. |