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07/31/2008
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Fortune Pai Gow Poker Progressive™ Jackpot Hit for Over $500,000 at Thunder Valley Casino
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Las Vegas – July 31, 2008 –Shuffle Master, Inc. (NASDAQ Global Select Market: SHFL) announced today that the progressive jackpot on its Fortune Pai Gow Poker Progressive™ table game hit twice during July. The first jackpot payoff occurred at Thunder Valley Casino just outside of Sacramento, California, where a Northern California player was awarded over $500,000 after receiving a seven-card straight flush and hitting on the side bet. The second jackpot payout was awarded at the Rampart Casino in Las Vegas, where a Nevada player received over $70,000 and became the casino’s second player to trigger the progressive jackpot since the game went live in April. As the first progressive table game released since Shuffle Master acquired Progressive Gaming International Corporation (PGIC)’s Table Game Division in September 2007, Fortune Pai Gow Poker Progressive™ allows players to make a small progressive wager in addition to their standard Pai Gow Poker wager to be eligible to win a progressive jackpot in addition to their odds payouts. The top hand in the game, a seven-card straight flush, pays 8,000 to 1 and 100% of the jackpot. Since the game’s introduction in late calendar 2007, the Company has 168 Fortune Pai Gow Progressive™ tables installed or pending installation. The Company has recently begun installing progressives on several of its other popular titles, including Three Card Poker® and its Royal Match 21™ Blackjack side bet. Mark L. Yoseloff, Ph.D., Shuffle Master Chairman and Chief Executive Officer commented that, "Since we began installing the progressive version of our popular Fortune Pai Gow Poker proprietary table game late last year, the enhanced game has rapidly become a staple product in a growing number of casinos throughout North America. Additionally, its increasing installed base and performance is an excellent example of the validity of our strategic initiative of adding value to our existing games in the field.” |
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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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