As long as you don't have a license key embededded we make sure you only run exactly one instance of the TS3 server (free 32 slot unregistered version). We use shared memory to facilitate the communication to detect other running instances, which requires tmpfs to be mounted at /dev/shm. If you (for whatever reason) do not have this mounted, the above error will occur.
To fix this problem, the following commands or file edits need to be done as root user (or using something like sudo). This is a temporary fix until your next reboot.
mount -t tmpfs tmpfs /dev/shm
Now to make sure this mount is done automatically upon reboot, edit the file /etc/fstab and add the line:
tmpfs /dev/shm tmpfs defaults 0 0
If you get an error about "Too many levels of symbolic links" make sure that /dev/shm is not already a symbolic link to somewhere else which in turn is a symbolic link back to /dev/shm. If that is the case remove /dev/shm then create it again before mounting.