Mark Yoseloff, the Company's CEO and Chairman commented, "Now is the perfect time to leverage our intellectual property and develop live and broadcast events as well as merchandise based on our extremely popular gaming offerings. The popularity of televised gaming events is at an all time high, and Shuffle Master's ownership of many of the most popular games in casinos should lead to some very exciting broadcast events."
“We have been involved with tournaments that draw over 1,000 participants competing for a grand prize of $10,000”
Yoseloff continued, "We are forming Shuffle Up Productions to pursue this opportunity, with Shuffle Up generally acting in the role of executive producer. We have several projects that we are considering and will start with an exciting tournament concept using our most popular game, Three Card Poker. We are currently finalizing plans for 'The Three Card Poker National Championship(TM).' This event will culminate with a showdown in Las Vegas and the winner walking away with one million dollars".
The Company currently works with a number of casinos to put on gaming tournaments. Let It Ride and Three Card Poker are the most popular. "We have been involved with tournaments that draw over 1,000 participants competing for a grand prize of $10,000", stated Brooke Dunn, Senior Vice President of Shuffle Master. "Imagine how many players will want to compete for a Grand Prize of $1,000,000".
Casino sites have not been selected at this time. The Company will be meeting with the various regulatory agencies for approvals. Further announcements regarding "The Three Card Poker National Championship" will include details regarding the gaming destinations included in the tournament, casino sites selected, sponsorships and television production.
Shuffle Master, Inc. is a gaming supply company specializing in providing its casino customers Utility Products, including automatic card shufflers, to improve their productivity and security, and Entertainment Products, including proprietary table games and Table Master(TM) games to expand their gaming entertainment content. 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.
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. Factors that could cause actual results to differ materially from expectations include, but are not limited to, the following: changes in the level of consumer or commercial acceptance of the Company's existing products and new products as introduced; advances by competitors; acceleration and/or deceleration of various product development, promotion and distribution schedules; product performance issues; higher than expected manufacturing, service, selling, administrative, product development, promotion and/or distribution costs; changes in the Company's business systems or in technologies affecting the Company's products or operations; reliance on strategic relationships with distributors and technology and manufacturing vendors; current and/or future litigation or claims; tax matters, including changes in tax legislation or assessments by taxing authorities; acquisitions or divestitures by the Company or its competitors of various product lines or businesses and, in particular, integration of businesses that the Company may acquire; changes to the Company's intellectual property portfolio, such as the issuance of new patents, new intellectual property licenses, loss of licenses, claims of infringement or invalidity of patents; regulatory and jurisdictional issues (e.g., technical requirements and changes, delays in obtaining necessary approvals, or changes in a jurisdiction's regulatory scheme or approach, etc.) involving the Company and its products specifically or the gaming industry in general; general and casino industry economic conditions; the financial health of the Company's casino and distributor customers, suppliers and distributors, both nationally and internationally; the Company's ability to meet its debt service obligations, including the Notes, and to refinance its indebtedness, which will depend on its future performance and other conditions or events and will be subject to many factors that are beyond the Company's control; and various risk related to the Company's customers' operations in countries outside the United States, including currency fluctuation risks, which could increase the volatility of the Company's results from such operations. 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 annual report on Form 10-K.
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