Shuffle Master acquires Vegas software firm

Monday, Aug. 12, 2002 | 11:04 a.m.

Las Vegas-based equipment maker Shuffle Master Inc. today announced it has acquired certain assets of Casino Software and Services LLC, also of Las Vegas.

Financial terms of the deal weren't disclosed.

The assets, which are marketed to table game operators worldwide, include two software products that allow casinos to track players' bets and offer security protection, among other features.

As part of the deal, Casino Software and Services Chief Executive Officer Oliver Schubert has joined Shuffle Master as director of product development. Schubert will continue to upgrade the two products at Shuffle Master, the company said.

The deal is in line with Shuffle Master's strategy of acquiring promising products and technology that can be distributed by the company, Shuffle Master Chairman and Chief Executive Officer Mark Yoseloff said.

"This acquisition also dovetails nicely with our strategy of offering technology that provides clear return on investment for our customers while generating high margin, recurring revenue for Shuffle Master," Yoseloff said in a statement.

Shuffle Master makes card shufflers and other table game equipment as well as slot machines and table games.