Cut

1. The last aspect of a complete shuffling procedure, wherein the dealer will separate the deck into two parts before recombining the cards in order to deal.
2. In a more casual context, "to cut the deck" is to split it into two parts at random for a purpose such as drawing a high card.

Buy the Cards, Cut the Cards...

The opaque card-sized peace of plastic used to protect the bottom card on the deck is know as the "cut card."