25.05.2010 12:30:00
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Shuffle Master, Inc. "Adopts” a Las Vegas School
Shuffle Master, Inc. (NASDAQ Global Select Market: SHFL) ("Shuffle Master” or the "Company”) today announced that in memory of the Company’s former CEO, the late Timothy Parrott, the Company has "adopted” a local at-risk elementary school and donated $90,000 to provide various resources and services via three local charitable organizations: The Public Education Foundation, Spread the Word Nevada and Three Square Food Bank.
"Tim was passionate about Shuffle Master and its employees giving back to the community and the Adopt-A-School concept is something he initiated months ago,” stated Phillip C. Peckman, Chief Executive Officer of Shuffle Master. "We are so pleased to positively impact the lives of over 800 children by providing time, resources and needed funds to Jack Dailey Elementary School.”
Shuffle Master’s unique partnership with the local organizations focuses on the various needs of Jack Dailey Elementary School, a Title I school with no current business partners or substantial community support. The Company’s contribution and sponsorship will help enrich the educational experience as well as the overall well-being of these children by:
- Providing students with new clothing and books
- Giving teachers much-needed classroom supplies
- Initiating a "Kids to Kids” monthly book distribution program
- Launching reading mentorship and literacy programs
- Providing backpacks full of healthy food for children who might otherwise go without during weekends and long breaks from school
Later this week, the students of Jack Dailey Elementary will receive a backpack full of snacks, school supplies and new as well as gently used books. When the children return to school in the fall, Shuffle Master will organize several hands-on activities for its employees to help with the continued sponsorship of the school. This will include helping renovate the student library, opportunities for mentoring and tutoring, school supplies drives, and preparing backpacks, to name a few.
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 include 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. 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.
About Three Square
Three Square was established to end hunger in the valley by providing wholesome, nutritious food to non-profit organizations that serve a wide range of Southern Nevadans in need. A national model project inspired by Eric Hilton with a grant provided by the Conrad N. Hilton Foundation, Three Square is a community collaborative partnership with the gaming industry, businesses, non-profit agencies, food distributors, UNLV, the CCSD, governmental entities, the media and hundreds of volunteers to efficiently and effectively serve hope to those in our community struggling with hunger. Three Square currently provides 17 million pounds of food – the equivalent of 13 million meals – per year to more than 280 non-profit and faith-based organizations, 195 schools and multiple food service sites throughout Southern Nevada. Three Square is a member of the Feeding America network of food banks. www.threesquare.org
About Spread the Word Nevada
Kids to Kids, a flagship program of Spread the Word Nevada, Inc., a nonprofit, 501(c) (3) corporation, serves low-income children and helps them create home library collections of books to read and share with family members. While developing a love of reading, these libraries promote future academic achievement and self-confidence, which impacts lifelong success. Other literacy programs include Breakfast with Books and Books and Buddies. Since 2001, Spread the Word Nevada has distributed more than 1.4 million gently used and new books to more than 162,000 low-income youth. Contact (702) 564-7809 or visit www.SpreadtheWordNevada.org to learn more about program details.
About The Public Education Foundation
The Public Education Foundation is a nonprofit organization dedicated to mobilizing community and global resources to meet the challenges of educating a growing and diverse Southern Nevada population. The Foundation’s programs and initiatives are designed to improve student performance and advance quality educational opportunities for all children. Since 1991, the Foundation has raised approximately $62 million to improve teaching and learning in Southern Nevada’s public schools. For more information about the Foundation, go to www.thepef.org.
Forward-Looking Statements
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. Risk factors that could cause actual results to differ materially from expectations include, but are not limited to, the following: the Company’s intellectual property or products may be infringed, misappropriated, invalid, or unenforceable, or subject to claims of infringement, invalidity or unenforceability, or insufficient to cover competitors' products; the gaming industry is highly regulated and the Company must adhere to various regulations and maintain its licenses to continue its operations; the search for and possible transition to a new chief executive officer could be disruptive to the Company’s business or simply unsuccessful; the Company’s ability to implement its ongoing strategic plan successfully is subject to many factors, some of which are beyond the Company’s control; litigation may subject the Company to significant legal expenses, damages and liability; the Company’s products currently in development may not achieve commercial success; the Company competes in a single industry, and its business would suffer if its products become obsolete or demand for them decreases; any disruption in the Company’s manufacturing processes or significant increases in manufacturing costs could adversely affect its business; the products in each of our segments may experience losses due to technical difficulties or fraudulent activities; the Company operates in a very competitive business environment; the Company is dependent on the success of its customers and is subject to industry fluctuations; risks that impact the Company’s customers may impact the Company; certain market risks may affect the Company’s business, results of operations and prospects; a continued downturn in general worldwide economic conditions or in the gaming industry or a reduction in demand for gaming may adversely affect the Company’s results of operations; the Company’s domestic and global growth and ability to access capital markets are subject to a number of economic risks; economic, political, legal and other risks associated with the Company’s international sales and operations could adversely affect its operating results; changes in gaming regulations or laws; the Company is exposed to foreign currency risk; the Company could face considerable business and financial risk in implementing acquisitions; if the Company’s products contain defects, its reputation could be harmed and its results of operations adversely affected; the Company may be unable to adequately comply with public reporting requirements; the Company’s continued compliance with its financial covenants in its senior secured credit facility is subject to many factors, some of which are beyond the Company’s control; the restrictive covenants in the agreement governing the Company’s senior secured credit facility may limit its ability to finance future operations or capital needs or engage in other business activities that may be in its interest; and the Company’s business is subject to quarterly fluctuation. 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 its latest annual report on Form 10-K.
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