Shuffle Master plans new headquarters on nine-acre site

Shuffle Master, Inc. said Tuesday it paid $2.2 million for a nearly nine-acre site in Las Vegas to build a new corporate headquarters and manufacturing office.

The land, near Jones Boulevard and Interstate 215 in the southwestern part of the valley, will house nearly 110,000 square feet of new office and manufacturing space, bringing the gaming equipment provider's departments, services and employees to one location.

Its current headquarters comprise four separate building leases that house executive and corporate departments, manufacturing, warehouses, an interactive division and a products showroom.

Construction is to begin this summer and be completed in fall 2013.

The new site will take Shuffle Master away from its office south of McCarran International Airport to a location near the corporate headquarters of slot maker International Game Technology.

Shuffle Master Chief Executive Officer Gavin Isaacs said the timing was right, given the cost of real estate.

Isaacs said Las Vegas continues to be the gaming industry's "intellectual hub."

"When we first moved into our current location nearly 15 years ago, the company generated $27 million in annual revenues and had just two product lines," Isaacs said. "Fast-forward to today, Shuffle Master generates close to 10 times those annual revenues and offers five diverse product categories to customers around the globe."