Las Vegas firm acquires Australian shuffler makers

Thursday, April 19, 2001 | 11:16 a.m.

Las Vegas-based Shuffle Master Inc. said it plans to purchase the assets and certain liabilities of three separate subsidiaries of an Australia company called Gaming Products.

Shuffle Master also plans to acquire the stock of a fourth company, Gaming Products Pty. Ltd, which holds the patented technology related to the QuickDraw card-shuffler line.

The QuickDraw shuffler is a continuous multi-deck card shuffler that was originally introduced to the casino market in 1996. Gaming Products has sold about 600 shufflers, primarily in Southeast Asia, South Africa and the international cruise ship market.

QuickDraw is also deployed at casinos in Detroit and at Mandalay Bay hotel-casino on the Las Vegas Strip, said Mark Yoseloff, president of Shuffle Master.

"This acquisition will expand our shuffler product line," Yoseloff said.

Terms of the all-cashed transaction were not disclosed. The company said it has complied with pre-closing notification required by gaming regulators. Yoseloff said he expects the deal to close by the end of this month.

Yoseloff said Shuffle Master plans to market the QuickDraw product line in the growing cruise ship market and international markets. He noted the employees of Gaming Products -- about 18, based near Brisbane, Australia -- will continue to manufacture the QuickDraw shuffler. The acquisition will not cause increases or decreases in staff for Shuffle Master in the United States, he said.