Progressive Gaming is a well known entity in the land-based casino gambling industry. These days, however, Progressive is probably better known for their performance track record which has been anything but worthy of bragging. Characterized by major corporate losses, the company's second quarter earnings for 2007 revealed continued losses, albeit not nearly as much as the same time last year.

Reported yesterday, Progressive Gaming's second quarter statement could have appeared plenty worse if they had factored their casino table games division into the equation. Classified as "discontinued operations", the table game division was a major factor in putting Progressive Gaming in a financial tailspin to begin with. Not necessarily their cup of tea (Progressive is more noted for their gaming devices), the table games division would have given Progressive a second quarter loss of $34.2.

However, since Shuffle Master has agreed to purchase the table games division, Progressive's loss was down to just $4.9 million for the second quarter of 2007. Although still a big loss, it could have been much worse. The deal with Shuffle Master, who is a leading casino technology developer, is expected to close some time this month.

Progressive Gaming's CEO, Russel McMeekin is optimistic and positive about the company's road ahead. The company's system division has already seen a 60% increase in revenue from last year - now up to $18.8 million. By repositioning the company as a casino gaming systems supplier, Progressive is recovering and expanding. Progressive also reported a 5% increase in sales of casino management systems, primarily due to gambling liberation in Asia and Europe.