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Shuffle Master Licenses Patents to IGT19 February 2003LAS VEGAS -- (Press Release) -- Shuffle Master, Inc. (NASDAQ: SHFL) announced today that it has entered into a licensing agreement with IGT (NYSE: IGT - News) covering a suite of patents held by Shuffle Master. These patents, including United States patent numbers 6,179,711, 6,454,651 and 6,471,208, which the Company referred to as the "Second Event Multiplier" patents, cover a broad range of bonusing methods for video slot machines. Although specific terms of the agreement are confidential, Shuffle Master received an undisclosed amount of cash, as well as rights to certain IGT patents, in exchange for IGT becoming the exclusive licensee of the Second Event Multiplier patents. Dr. Mark Yoseloff, Chairman and Chief Executive Officer of Shuffle Master commented, "Given the broad nature of the Second Event Multiplier patents, it appears that a number of games in the market today utilize our bonusing methods. We are pleased to have been able to reach an agreement with IGT, a leader in video slot games, regarding their use of our patented technology. Shuffle Master is considering its options regarding other companies that may be using this technology." Shuffle Master, Inc. is a gaming supply company specializing in providing innovative, high quality products and services to the casino industry, including card shufflers and other table gaming equipment, table and slot games, and gaming machine software and related hardware. |