Shuffle Master Inc. purchases nine acres of land in Las Vegas

Jun 4, 2012 7:31 PM

Shuffle Master Inc. (SHFL) announced it has purchased nearly nine acres of land in Las Vegas in order to consolidate all its activities in one location. The property is located near Jones Blvd., and the 215 beltway.

Purchase price for the nearly 110,000 square feet of new office and manufacturing space, was given as approximately $2.2 million.

The new area will give the company the opportunity to bring all local departments, services and employees to one location, the company said.

Currently, the company’s headquarters comprise four separate building leases that house executive and corporate departments, manufacturing, warehouses, an interactive division and a products showroom.

Also, the company has notified the Securities & Exchange Commission that David B. Lopez has resigned his executive positions as well as from the board of directors, effective June 1. No reason for his departure from the company was given.

After trading hours on Monday, the company reported its second quarter earnings as $9.7 million or $0.17 per share compared to last year’s net income of $0.14 per share. Revenues were said to have increased by 10 percent to $66.1 million.