Shuffle Master’s profits rise 14 percent
Gaming equipment provider Shuffle Master grew its net income 14 percent in the third quarter, company officials said Monday.
Las Vegas-based Shuffle Master, which provides casinos with table games and management products, told investors that its net income for the quarter that ended July 31 was $10.4 million, compared with $9.1 million in the same quarter last year. The company’s earnings per share was 18 cents, compared with 17 cents a year ago.
Analysts surveyed by Thomson Reuters, however, expected Shuffle Master to report earnings of 20 cents per share.
Shuffle Master officials said the company’s overall revenues in the quarter increased 9 percent to $63.4 million in large part because of the table games, from which the company shares revenues with casinos, and the sale of electronic table games.
Shuffle Master Chief Executive Officer Gavin Isaacs said the quarter “well-positions” the company heading into next month’s Global Gaming Expo, where it will launch a new card shuffler, revamped electronic gaming tables, and new live and online games. The company also is launching a line of slot machines.
“I am confident that we will finish 2012 with a deeper product portfolio and a stronger organization,” Isaacs said.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.