Shuffle Master Inc. (SHFL) recently announced the appointment of Gavin Isaacs as its chief executive officer (CEO) after an extensive search process. Isaacs will assume his new responsibility on April 1, 2011. However, his appointment still awaits regulatory approvals.
Former CEO, Timothy Parrott stepped down last April on medical grounds and during this one-year period the company saw two interim CEO changes. The first interim CEO was chairman Phillip Peckman who served from April to November 2010. Chief operating officer David Lopez has been serving the post since then.
Isaacs’ career graph is dotted with many important roles. Earlier, he was with Bally Technologies in Las Vegas as an executive vice president and chief operating since 2006. Prior to that, Isaacs held senior-level roles at Aristocrat Leisure Limited including head of global marketing and business development team in Australia and managing director of its European subsidiary based in London.
Considering the vast know-how and 12 years of experience in international as well as domestic gaming technology and equipment market, we believe Isaacs will provide meaningful support to Shuffle Master’s growth initiatives in the coming quarters. We also believe that with the announcement of such a strong name, the year-long uncertainty stemming from a gap in Shuffle Master’ top managerial position will likely disappear.
Shuffle Master currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We are also maintaining our long-term Neutral recommendation on the stock. The peer of the company includes Wynn Resorts Ltd. (WYNN) and Melco Crown Entertainment Ltd. (MPEL).
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SHUFFLE MASTER (SHFL): Free Stock Analysis Report
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