Shuffle Master earnings boosted by two new casinos

Gaming equipment provider Shuffle Master said it benefitted from the openings of two casinos in Singapore, which helped propel the company's second-quarter earnings.

Shuffle Master Chief Executive Officer Phil Peckman said Wednesday the Las Vegas-based company gained approximately $500,000 in the quarter through leases for the company's gaming equipment.

"Our second-quarter showed strong year-over-year growth due to compelling drivers in our product segments," Peckman said in a statement.

In Singapore, Genting's Resorts World Sentosa and the $5.7 billion Marina Bay Sands, owned by Las Vegas Sands Corp., both opened.

Shuffle Master said its net income for the quarter than ended April 30 was $7.9 million, or 15 cents per share, which compared with net income of $4.4 million or earnings of 8 cents per share.

The company said its total revenues in the quarter were $50.8 million, a 12 percent increase compared with $45.3 million a year ago.

Shuffle Master provides casinos with table games, such as Three Card Poker and Let It Ride, and casino management equipment, including automated playing card shufflers.

Analysts have said the recent addition of table games into casinos in Pennsylvania, Delaware and West Virginia, benefits Shuffle Master domestically.

"We remain bullish on shares of Shuffle Master at current levels," Roth Capital Markets gaming analyst Todd Eilers said. "We also continue to believe Shuffle Master will be a primary beneficiary from live table game expansion."

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