Shuffle Master, Inc. and TCS Announce Arbitration Settlement - Tuesday 12th of July 2005

Shuffle Master, Inc. (NASDAQ National Market: SHFL - News) and TCS announced today that they have reached an arbitration settlement. As part of the settlement, each party has completely and fully released the other for any acts or omissions committed prior to the settlement effective date.

Under the terms of the Settlement Agreement, TCS will receive a one-time payment from Shuffle Master to resolve all disputed issues relating to the previously terminated International Distribution Agreement. This agreement was terminated by the Arbitrator on December 23, 2004.

Under the terms of the Settlement Agreement, Shuffle Master will continue to provide shuffler spare parts to TCS so that TCS may fulfill its customer service obligations.

Shuffle Master expects to file an 8K with a copy of the Settlement Agreement within the next few days.

Shuffle Master, Inc. is a gaming supply company specializing in providing its casino customers Utility Products, including automatic card shufflers, intelligent table systems, and roulette chip sorters, to improve their profitability, 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 managements 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 Companys 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 Companys business systems or in technologies affecting the Companys products or operations; reliance on strategic relationships with distributors and technology and manufacturing vendors; results from 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 Companys 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 jurisdictions 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 Companys casino and distributor customers, suppliers and distributors, both nationally and internationally; the Companys 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 Companys control; and various risks related to the Companys customers operations in countries outside the United States, including currency fluctuation risks, which could increase the volatility of the Companys results from such operations. Additional information on these and other risk factors that could potentially affect the Companys financial results may be found in documents filed by the Company with the Securities and Exchange Commission, including the Companys current reports on Form 8-K, quarterly reports on Form 10-Q and annual report on Form 10-K.

Other news from around the same time

Stanley ups casino stake - Tuesday 12th of July 2005

LIVERPOOL gaming group Stanley Leisure announced £100m expansion plans for the next five years toda....


Affandi Salleh, 45, the managing director of a local company, said Raffles Hotel should be owned by a Singapore company because of its heritage value. - Tuesday 12th of July 2005

THE high rollers have started losing again at Stanley Leisures top London casinos. The previous year....


Singapore Raffles group sells hotels at $859 mln - Tuesday 12th of July 2005

U.S. investment firm Colony Capital is to buy the entire business of Raffles Holdings, owner of Sing....


Casino firm Stanley Leisure profit down 4 pct - Tuesday 12th of July 2005

Stanley Leisure (SLY.L: Quote, Profile, Research) posted a 4 percent fall in underlying annual profi....


Colony Capital in Agreement to Purchase 41 Luxury Hotels from Raffles Holdings - Tuesday 12th of July 2005

Colony Capital, LLC, a leading international investment fund with more than 15 years of experience i....


Police urged to arrest gambling bosses - Tuesday 12th of July 2005

Observers are calling on the police to start arresting big-time gamblers and raid suspected big gamb....


Gaming syndicates lose out - Tuesday 12th of July 2005

Gaming syndicates are promoting illegal electronic gambling in legitimate club, association and Chin....


Newsstands flush with poker magazines - Tuesday 12th of July 2005

Bluff magazine routinely reveals a world at the top of the poker craze that few get to see, of milli....


Ulster player in £1m poker success - Tuesday 12th of July 2005

An Ulster-born poker ace was flushed with success last night after scooping £1million at a Las Vega....


Stockholders to decide fate of K Wah buy - Tuesday 12th of July 2005

K Wah Construction Materials proposed HK$18.4 billion buyout of Galaxy Casino has been a dud on the ....