UPDATE 2-Shuffle Master posts lower-than-expected Q1 results

* Q1 adj. EPS $0.01 vs est of $0.04: Reuters Estimates

* Q1 rev $34.5 mln vs est $43.4 mln * Electronic table systems rev falls 28 pct (Recasts, adds conference call details, background)

BANGALORE, March 12 (Reuters) - Casino-game maker Shuffle Master Inc (SHFL.O) posted lower-than-expected quarterly results, hurt by a 28 percent fall in revenue at its electronic table systems segment.

The company will take a mostly non-cash charge of about $4 million in the second quarter related to the retirement of its Chief Executive Mark Yoseloff, a company executive said on a conference call with analysts.

In February, Shuffle Master named Timothy Parrott as its CEO, effective March 15. Parrott was president and CEO, Americas of Aristocrat Technologies Inc, from 2006 until late 2008, it said.

For the first quarter ended Jan. 31, net loss was $973,000, or 2 cents a share, compared with a loss of $1.8 million, or 5 cents a share, a year earlier.

According to Reuters Estimates, the company earned 1 cent a share, excluding items, falling short of analysts' consensus view of 4 cents.

Revenue at the company, which makes gambling tables, slot machines and card shufflers, fell 9 percent to $34.5 million, hurt by the weakening Australian dollar and the Euro.

Revenue at its electronic tables systems segment fell 28 percent to $4 million in the quarter.

Shares of the Las Vegas company closed at $2.57 Thursday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Deepak Kannan)