Shuffle Master Has Weak Third Quarter

This story was published more than 11 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.