SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
ENDY ERIC P
(Last) (First) (Middle)
11 QUAIL VALLEY ST.
(Street)
LAS VEGAS NV 89148
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Gaming Partners International CORP [ GPIC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/19/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 393,659 I See footnote(1)
Common Stock(2) 12/19/2005 M 10,894 A $8.0625 55,249 D
Common Stock(2) 12/19/2005 S 500 D $11.87 54,749 D
Common Stock(2) 12/19/2005 S 100 D $11.9 54,649 D
Common Stock(2) 12/19/2005 S 7,132 D $11.95 47,517 D
Common Stock(2) 12/19/2005 S 1,362 D $12 46,155 D
Common Stock(2) 12/19/2005 S 1,800 D $12.05 44,355 D
Common Stock(3) 12/20/2005 M 2,214 A $8.0625 46,569 D
Common Stock(3) 12/20/2005 S 914 D $12 45,655 D
Common Stock(3) 12/20/2005 S 500 D $12.04 45,155 D
Common Stock(3) 12/20/2005 S 800 D $12.05 44,355 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock(2) $8.0625 12/19/2005 M 10,894 07/29/1999 07/29/2006 Common Stock 27,000 $8.0625 16,106 D
Common Stock(3) $8.0625 12/20/2005 M 2,214 07/29/1999 07/29/2005 Common Stock 16,106 $8.0625 13,892 D
Explanation of Responses:
1. Mr. Endy indirectly beneficially owns the following shares in the manner described: Paul S. Endy, Jr. Living Trust 369,659; Daren Chang Endy Irrevocable Trust 6,000 shares; Nevin Chao Endy Irrevocable Trust 6,000 shares; Celine Endy Irrevocable Trust 6,000 shares; and Hsiao Chin Endy (Spouse) 6,000 shares.
2. On December 19, 2005, Mr. Endy made a cashless exercise of his option and purchased 10,894 shares of the $0.01 par value common stock of Gaming Partners International Corporation (the "Company") at an exercise price of $8.0625 per share. The option was originally granted under the Company's 1994 Long-Term Incentive Plan (the "Plan"). The option is fully vested and exercisable as of July 29, 1999, with respect to the remaining 16,106 shares. Mr. Endy's exercise of his option was exempt under Rule 16b-3 and/or Rule 16b-6(b). Mr. Endy then sold these shares on the open market at prices ranging from $11.87 to $12.05 per share.
3. On December 20, 2005, Mr. Endy made a cashless exercise of his option and purchased 2,214 shares of the $0.01 par value common stock of the Company at an exercise price of $8.0625 per share. The option was originally granted under the Plan. The option is fully vested and exercisable as of July 29, 1999, with respect to the remaining 13,892 shares. Mr. Endy's exercise of his option was exempt under Rule 16b-3 and/or Rule 16b-6(b). Mr. Endy then sold these shares on the open market at prices ranging from $12.00 to $12.05 per share.
/s/ Melody Sullivan, by power of attorney 12/21/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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