It is a simple fact: the global demand for Shuffle Master products has definitely increased the company’s quarterly profits. The company sells and leases card shufflers and slot machines and demand for its products has never been higher. This continued steady revenue generation has made this company a star in the world of both online gaming and casino gaming where its products are becoming staples found in most of the better gaming establishments.
Shuffle Master is based in Las Vegas and for its FY third quarter (which ended on July 31) the company reports profit earnings of $10.4 million or 18 cents per share. This amount is an increase from year-ago quarter earnings which came in at $9.1 million or 17 cents a share. Overall, company revenue increased 9 percent to $63.4 million.
The company seems to be having good luck across the board as it reports that its installed base of leased shufflers increased by 7 percent and now stands at 8,245. Its shuffler sales and lease revenue is reported to have increased by 8 percent which represents $24.4 million. And its table game revenue rose by an impressive 18 percent to hit $13 million. Revenues for its electronic gaming machines increased as well by 11 percent, representing an estimated $20 million.
In a statement that was recently released by the company, it was reported that an estimated 55 percent of the company’s overall revenue came from sources outside of the US which only makes sense as more and more foreign countries are turning to gaming for revenue generation. It also stated that it hopes this trend continues and that its new products will help to keep the momentum going. One new slot, the Flintstones slot, is expected to be a big hit once it hits the floors in the near future. Other games are in development as well.
Unlike many other gaming product companies that have had to rack up mounting debt, Shuffle Master has no net debt. It also has an estimated $186 million credit line at its disposal. As such, the company is seeking new growth avenues and opportunities which may include acquisitions of other companies.
Other good news for Shuffle Master came this last summer when it received a Nevada license allowing it to provide an online real-money poker system for its casino clients. The company has also received a very similar license in Gibraltar has opened a new office there. The company will continue to invest in developing social gaming products as well as online real money products for use in growing mobile gaming market. The new license from Gibraltar will allow Shuffle Master to aggressively compete in the booming EU online gambling market.
Some of the more popular and well known proprietary table games the company provides include Ultimate Texas Hold’em, Three Card Poker, and Fortune Pai Gow Poker. Release dates and other details of new products have not yet been released. But with earnings such as what Shuffle Master is seeing to date, the company is certain to stay on the move.