Shuffle Master Has Weak Third Quarter

This story was published more than 9 years ago.

U.S. based wagering giant Shuffle Master revealed its third quarter 2012 financial results, showing weak results that caused its share price to fall by 8%.

Although net income rose by 14% for the period ending July 31 to $10.4 million, the expectations for the company were markedly higher.

Revenues were also up 9% to $63.4 million, but the company incurred large costs attributed to hiring a Chief Strategy Officer and filling a General Counsel position. Shuffle Master also abandoned its $39 bid for online poker company Ongame Network during the period.