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Shuffle Master Submits Three-Reel Slot Conversion Kit for Nevada Approval

Company Also Receives Patent for Slot Algorithm And Signs Operating System Agreement With Fleetwood Manufacturing

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LAS VEGAS, Dec. 19 -- Shuffle Master, Inc. (Nasdaq: SHFL) announced today that it has submitted a three-reel slot machine conversion kit to the Nevada Gaming Control Board. The kit, which utilizes the Company's operating system, will facilitate the updating of IGT manufactured S+ reel slot machines with new computer boards and new games. Company officials noted that that there are approximately 300,000 to 400,000 S+ machines installed in North America.

Mark Yoseloff, President of Shuffle Master, stated, "Today's announcement represents a tremendous business opportunity for Shuffle Master. This conversion kit demonstrates a key benefit of our slot machine operating system, which is for a single, standardized software system to be able to run different kinds of machines and games. The operating system already runs our own new video games. Pending approval of the kit, owners of S+ machines will be able to install new games and upgrade components, including cashless systems. This will accomplish the casino operator's objective of extending the useful life of these machines at significantly less cost than new machines."

In related news, the Company also announced today that it has received notice from the U.S. Patent and Trademark Office that it has been granted a patent for its "Template Algorithm," a mathematical formula that can be used to generate outcomes on slot machines.

Yoseloff commented, "We believe that we have developed a unique, robust and flexible methodology for generating slot outcomes that provides a greater range and variety than methods currently available. We are pleased to have received the patent notification and look forward to using the algorithm with game developers and our own game products."

Shuffle Master also announced that it has signed an agreement with Fleetwood Manufacturing, Inc., Billings, Mont. Under the terms of the agreement and subject to gaming approval, Fleetwood, a slot manufacturer serving the 16,000 machine Montana market, will adopt the Shuffle Master operating system as the standard for their games and equipment. This will enable Fleetwood to have the flexibility to expand and enhance game offerings, extending the life of their machines. Fleetwood Gaming, a sister company to Fleetwood Manufacturing that operates gaming machine routes, has approximately 600 machines installed on routes in Montana, and will be the entity that sells and distributes games throughout Montana.

Shuffle Master, Inc. is a gaming supply company specializing in providing innovative, high quality products and services to the casino industry, including card shuffling systems and other table gaming equipment, table games and new gaming technology. The Company was recently ranked as the 33rd best small company in America by Forbes magazine.

SOURCE Shuffle Master, Inc.

 

 

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