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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RCKuF82UAatz+9wwR4xVhNPY+JPkCPvXgrhWdP00Q9fKKSkH8dX0/UaSaKa0Y/aW
 iefrGs6brOvqQBhtlXA9cg==

<SEC-DOCUMENT>0001179110-03-013273.txt : 20031223
<SEC-HEADER>0001179110-03-013273.hdr.sgml : 20031223
<ACCEPTANCE-DATETIME>20031223122351
ACCESSION NUMBER:		0001179110-03-013273
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031222
FILED AS OF DATE:		20031223

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHUFFLE MASTER INC
		CENTRAL INDEX KEY:			0000718789
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				411448495
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		1106 PALMS AIRPORT DRIVE
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89119
		BUSINESS PHONE:		7028977150

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			YOSELOFF MARK LAWRENCE
		CENTRAL INDEX KEY:			0001207847

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20820
		FILM NUMBER:		031070135

	BUSINESS ADDRESS:	
		STREET 1:		SHUFFLE MASTER INC
		STREET 2:		1106 PALMS AIRPORT DRIVE
		CITY:			LAS VEGAS
		STATE:			NV
		ZIP:			89119-3730
		BUSINESS PHONE:		7022705130
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-12-22</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000718789</issuerCik>
        <issuerName>SHUFFLE MASTER INC</issuerName>
        <issuerTradingSymbol>SHFL</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001207847</rptOwnerCik>
            <rptOwnerName>YOSELOFF MARK LAWRENCE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1106 PALMS AIRPORT DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LAS VEGAS</rptOwnerCity>
            <rptOwnerState>NV</rptOwnerState>
            <rptOwnerZipCode>89119</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>CEO &amp; Chairman</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-12-22</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>21818</value>
</transactionShares>
<transactionPricePerShare><value>3.6667</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>132157</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Stock Option</value>
</securityTitle>
<conversionOrExercisePrice><value>3.6667</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-12-22</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>21818</value>
</transactionShares>
<transactionPricePerShare><value>3.6667</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>1998-10-27</value>
</exerciseDate>
<expirationDate><value>2007-10-26</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>21818</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>663185</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes></footnotes>
<ownerSignature><signatureName>Jerome R. Smith, by Power of Attorney</signatureName>
<signatureDate>2003-12-22</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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