Shuffle Master’s profits increase

Shuffle Master grew net income by 56 percent in the third quarter primarily by placing electronic table games in new markets and leasing nontraditional casino table games.

The quarter, which ended July 31, marked the first three-month period for the Las Vegas-based company since longtime slot machine company official Gavin Isaacs became chief executive officer.

Isaacs, who took over in April, said Wednesday that leasing revenues grew 11 percent in the quarter.

"We remained focused on cost controls as part of an overall effort to drive operational excellence," Isaacs said. "However, our biggest accomplishment is how we have positioned Shuffle Master to take advantage of significant opportunities across the globe."

The company said net income in the quarter was $9.1 million, or 17 cents per share, up from $5.8 million, or 11 cents per share, a year earlier.

Revenue rose 13 percent to $58.3 million.

Shuffle Master said the company increased its placement of electronic table games during the quarter, which helped drive revenue figures.

Roth Capital Partners gaming analyst Todd Eilers said electronic table game expansion in New York's racetrack casino industry will benefit Shuffle Master. That state recently approved electronic craps and is expected to approve both baccarat and blackjack this year.

Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871.
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