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Non-Tech : Shuffle Master, Inc. (SHFL)
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To: Tony van Werkhooven who wrote (121)2/7/1999 12:21:00 AM
From: Ron Bower  Read Replies (1) of 230
 
Tony,

I have been on vacation in Vegas and, in spite of the company having relocated here, I haven't yet taken the time to talk with anyone at the company as yet.

My progress to date:

I was playing BJ with a man who's son-in-law works for Shuffle Master. He casually mentioned that the company was being bought out by Bally and that his son-in-law could stay but had decided to go elsewhere.

I'm not one for 'street rumors', but my research indicates:

From the January 28 filing of the 10K and recent news
1. Of the estimated 17,000 US casinos, Shuffle Master has placed games, equipment, and shuffle machines in only 525
2. The multi-deck shuffler began marketing in December
3. I have seen it in 5 Vegas casinos on a trial basis
4. I talked with a service rep that said they were installing them everywhere
5. I talked with pit people at two of the casinos and they thought the machine was excellent and hoped it was kept
6. I talked with dealers at all 3 and they loved it
7. These shufflers are to be leased, not sold

This is basically a new product that looks like it will go over big. Without this product, an analyst in Minnesota that is familiar with the company has made a "conservative estimate of .63 for fiscal 1999"

The company has a strong cash balance, has hired the former VP of sales for Bally as VP of Sales, and I'm seeing the equipment in use.

I bought the other day. What downside have I missed?

ROn
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