SEC FORM 4

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^*

DUNN BROOKE

(Last)

(First)

(Middle)

1106 PALMS AIRPORT DRIVE

(Street)

LAS VEGAS

89119

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SHUFFLE MASTER INC [ SHFL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2006

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/15/2006		M		14,063	A	$9.7378	104,513	D
Common Stock	11/15/2006		M		14,061	A	$9.7378	118,574	D
Common Stock	11/15/2006		M		14,063	A	$9.7378	132,637	D
Common Stock	11/15/2006		S⁽¹⁾		10,000	D	$31	122,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.039	121,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.061	120,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.146	119,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.241	118,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.406	117,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.463	116,637	D
Common Stock	11/15/2006		S⁽¹⁾		25,000	D	$31.5	91,637	D
Common Stock	11/15/2006		S⁽¹⁾		600	D	$31.515	91,037	D
Common Stock	11/15/2006		S⁽¹⁾		3,400	D	$31.52	87,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.5305	86,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.6111	85,637	D
Common Stock	11/15/2006		S⁽¹⁾		3,000	D	$31.62	82,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.6261	81,637	D
Common Stock	11/15/2006		S⁽¹⁾		3,000	D	$31.63	78,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.632	77,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.6332	76,637	D
Common Stock	11/15/2006		S⁽¹⁾		2,000	D	$31.6353	74,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.6362	73,637	D
Common Stock	11/15/2006		S⁽¹⁾		3,000	D	$31.65	70,637	D
Common Stock	11/15/2006		S⁽¹⁾		1,874	D	$31.74	68,763	D
Common Stock	11/15/2006		S⁽¹⁾		44	D	$31.75	68,719	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.7705	67,719	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.779	66,719	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.794	65,719	D
Common Stock	11/15/2006		S⁽¹⁾		1,000	D	$31.813	64,719	D
Common Stock	11/15/2006		S⁽¹⁾		2,000	D	$31.82	62,719	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options	$9.7378	11/15/2006		M			14,063	11/05/2004	11/04/2012	Common Stock	14,063	$9.7378	0	D
Stock Options	$9.7378	11/15/2006		M			14,061	11/05/2005	11/04/2012	Common Stock	14,061	$9.7378	1	D
Stock Options	$9.7378	11/15/2006		M			14,063	11/05/2006	11/04/2012	Common Stock	14,063	$9.7378	0	D

Explanation of Responses:

1. All sales are made pursuant to Stock Sales Plan, dated July 19, 2006, entered into pursuant to the requirement of Rule 10b5-1, adopted pursuant to the Securities Exchange Act of 1934, as amended.

Remarks:

This Form 4 is Part 1 of 2.

	Jerome R. Smith, by Power of Attorney	11/17/2006
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.