08/29/2008

Shuffle Master, Inc. Comments on its Refinancing Strategy

Las Vegas – August 29, 2008 – Shuffle Master, Inc. (NASDAQ Global Select Market: SHFL) announced today that it has drawn on its $65.0 million in term loan commitments from Deutsche Bank Trust Company Americas, Wachovia Bank National Association, KeyBank National Association and Union Bank of California.

In its press release dated August 25, 2008, Shuffle Master announced that $89.3 million of the Company’s $150 million 1.25 % Contingent Convertible Senior Notes (the “Notes”) had been validly tendered and accepted in accordance with the terms of its tender offer, which expired on August 22, 2008. Shuffle Master used the net proceeds from the term loan to repurchase $63.4 million of the $87.3 million (including accrued and unpaid interest) of the Notes which were validly tendered and accepted.

The remaining $24.1 million required to fund the repurchase of the tendered Notes was drawn from the $81.7 million in net proceeds from its equity offering (the “Offering”, as previously announced on August 4, 2008). Approximately $53.3 million in proceeds from the Offering was used to pay down Shuffle Master’s existing revolving credit facility which resulted in an outstanding balance of $6.0 million. Approximately $4.3 million of remaining equity proceeds are invested.

The Company intends to borrow on its revolving credit facility to satisfy the remaining outstanding Notes of $60.6 million.

About Shuffle Master, Inc.

Shuffle Master, Inc. is a gaming supply company specializing in providing its casino customers with improved profitability, productivity and security, as well as popular and cutting-edge gaming entertainment content, through value-add products in four distinct categories: Utility products which includes automatic card shuffler, roulette chip sorters and intelligent table system modules, Proprietary Table Games which include live table game tournaments, Electronic Table Systems which include various e-Table game platforms and Electronic Gaming Machines which include traditional video slot machines for select markets and wireless gaming solutions. 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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