Shuffle Master, Inc. (NASDAQ Global Select Market: SHFL) ("Shuffle
Master” or the "Company”) today announced that Daniel M. Wade has been
appointed to the Board of Directors, effective February 5, 2010.
"Dan brings to our board significant experience and valuable
perspective, having worked in the gaming industry for over 37 years,
including 16 years holding various executive positions with the MGM
Mirage, most recently as the Vice Chairman of the Board of Directors
from 2003 to 2006,” noted Phillip C. Peckman, Chairman of the Board of
Directors for Shuffle Master. "He is well-known throughout the community
and his considerable knowledge of gaming operations complements the
strengths of our existing board members. I am confident that his proven
leadership and insight will help guide Shuffle Master’s growth as the
industry begins to recover from an unprecedented economic environment.”
"In my former roles as a senior executive in the gaming world, I have
watched Shuffle Master build a proven track record of success by
providing casinos with a multitude of solutions to enhance their floor
profitability,” Daniel Wade stated. "I look forward to working with
fellow board members and management, and I am excited to participate in
the Company’s continued growth.”
About Shuffle Master, Inc.
Shuffle Master, Inc. is a gaming supply company specializing in
providing its casino customers with improved profitability, productivity
and security, as well as popular and cutting-edge gaming entertainment
content, through value-add products in four distinct categories: Utility
products which include automatic card shuffler, roulette chip sorters
and intelligent table system modules, Proprietary Table Games which
include live table game tournaments, Electronic Table Systems which
include various e-Table game platforms and Electronic Gaming Machines
which include traditional video slot machines for select markets. The
Company is included in the S&P Smallcap 600 Index. Information about the
Company and its products can be found on the Internet at www.shufflemaster.com.
Forward Looking Statements
This release contains forward-looking statements that are based on
management’s current beliefs and expectations about future events, as
well as on assumptions made by and information available to management.
The Company considers such statements to be made under the safe harbor
created by the federal securities laws to which it is subject, and
assumes no obligation to update or supplement such statements.
Forward-looking statements reflect and are subject to risks and
uncertainties that could cause actual results to differ materially from
expectations. Risk factors that could cause actual results to differ
materially from expectations include, but are not limited to, the
following: the Company’s intellectual property or products may be
infringed, misappropriated, invalid, or unenforceable, or subject to
claims of infringement, invalidity or unenforceability, or insufficient
to cover competitors' products; the gaming industry is highly regulated
and the Company must adhere to various regulations and maintain its
licenses to continue its operations; the Company’s ability to implement
its ongoing strategic plan successfully is subject to many factors, some
of which are beyond the Company’s control; litigation may subject the
Company to significant legal expenses, damages and liability; the
Company’s products currently in development may not achieve commercial
success; the Company competes in a single industry, and its business
would suffer if its products become obsolete or demand for them
decreases; any disruption in the Company’s manufacturing processes or
significant increases in manufacturing costs could adversely affect its
business; the products in each of our segments may experience losses due
to technical difficulties or fraudulent activities; the Company operates
in a very competitive business environment; the Company is dependent on
the success of its customers and is subject to industry fluctuations;
risks that impact the Company’s customers may impact the Company;
certain market risks may affect the Company’s business, results of
operations and prospects; a continued downturn in general worldwide
economic conditions or in the gaming industry or a reduction in demand
for gaming may adversely affect the Company’s results of operations; the
Company’s domestic and global growth and ability to access capital
markets are subject to a number of economic risks; economic, political,
legal and other risks associated with the Company’s international sales
and operations could adversely affect its operating results; changes in
gaming regulations or laws; the Company is exposed to foreign currency
risk; the Company could face considerable business and financial risk in
implementing acquisitions; if the Company’s products contain defects,
its reputation could be harmed and its results of operations adversely
affected; the Company may be unable to adequately comply with public
reporting requirements; the Company’s continued compliance with its
financial covenants in its senior secured credit facility is subject to
many factors, some of which are beyond the Company’s control; the
restrictive covenants in the agreement governing the Company’s senior
secured credit facility may limit its ability to finance future
operations or capital needs or engage in other business activities that
may be in its interest; and the Company’s business is subject to
quarterly fluctuation. Additional information on these and other risk
factors that could potentially affect the Company’s financial results
may be found in documents filed by the Company with the Securities and
Exchange Commission, including the Company’s current reports on Form
8-K, quarterly reports on Form 10-Q and its latest annual report on Form
10-K.
