Shuffle Master, Inc. Purchases Land In Las Vegas For New Consolidated Facility
May 30, 2012 /PRNewswire/ -- Shuffle Master, Inc. (NASDAQ Global Select Market: SHFL) ("Shuffle Master" or the "Company") recently purchased nearly nine acres of land near Jones Boulevard and the I-215 in
Las Vegas for a new consolidated facility.
Purchased for approximately $2.2 million, the land will be home to nearly 110,000 square feet of new office and manufacturing space, bringing all local departments, services and employees to one location. Shuffle Master's current headquarters comprise four separate building leases that house executive and corporate departments, manufacturing, warehouses, an interactive division and a products showroom.
"This is a very exciting time of growth for Shuffle Master and we are clearly 'on the move' – literally and figuratively," said Gavin Isaacs, Chief Executive Officer. "When we first moved into our current location nearly 15 years ago, the company generated $27 million in annual revenues and had just two product lines. Fast-forward to today, Shuffle Master generates close to 10 times those annual revenues and offers 5 diverse product categories to customers around the globe. Given our significant evolution over the years, a new consolidated facility will serve to promote greater efficiencies in the business and allow us to create the right infrastructure for future growth."Construction is scheduled to begin this summer and to be completed in fall 2013. A groundbreaking ceremony is scheduled for September. "Our new offices are being designed to create a more productive and collaborative work environment, so that we can use our new building to maximize the potential of our employees. We also believe that by building our new global headquarters in the valley, we are continuing to build on the momentum of having Las Vegas be the industry's 'intellectual hub' of international gaming operations; we are very excited that many of our key initiatives for our domestic and international operations will continue to come out of Las Vegas," continued Isaacs. "It is also a great time to invest in Las Vegas, given our favorable cost of money and the current real estate prices." About Shuffle Master, Inc. Shuffle Master, Inc. is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service. The Company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, which include automatic card shufflers and roulette chip sorters; Proprietary Table Games, which includes live games, side bets and progressives; Electronic Table Systems, which include various e-Table game platforms; Electronic Gaming Machines, which include video slot machines; and newly introduced iGaming, which features online versions of Shuffle Master's table games, social gaming, and mobile applications. 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, or on Facebook, Twitter and YouTube. Forward Looking Statements This release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this release other than statements that are purely historical are forward-looking statements. Forward-looking statements in this press release include, without limitation: 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; the Company may not realize all or some of the anticipated economic efficiencies, infrastructure for future growth, or human resources benefits anticipated by the functionalities and design of the new facility; the construction of the new facility may not be completed in accordance with the anticipated construction schedule or budget, which could adversely affect the Company's financial position; and the construction of the new facility and the move of the personnel to the new facility may be unduly disruptive to the Company's operations, which could adversely affect its business. Our beliefs, expectations, forecasts, objectives, anticipations, intentions and strategies regarding the future, including without limitation those concerning expected operating results, revenues and earnings are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from results contemplated by the forward-looking statements, including but not limited to: the Company's unanticipated inability to accomplish our innovation and design objectives or our inability to accurately gauge the appeal and functionality of our new facility; the construction of the Company's new facility is subject to the efforts of third parties, none of whom we control and unexpected changes in market and economic conditions could impact their ability to comply with our budget, construction and moving schedule; and the Company's unanticipated inability to accomplish our innovation objectives or our inability to accurately gauge the commercial appeal of our products. Additional information on 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 and are based on information available to us on the date hereof. We do not intend, and assume no obligation, to update any forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. SOURCE Shuffle Master, Inc.
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