IGT CEO Patti Hart Fighting to Stay in Control
Will Patty Hart Lose Her Ability To Serve on IGT’s Board?
In further news about the International Game Technology (IGT) proxy fight which was initiated by the New York based Ader investment group, Gambling911 has exclusively learned that IGT CEO Patti Hart may lose her ability to serve on the board of a publicly traded gaming company due to statements she swore to be accurate on gaming applications that have now come into question.
IGT is the casino software provider to bet365 casino, Betcirca, BetVictor, BetFred and many others. In June 2012, Nevada based IGT received 1 of two licenses issued by The Nevada Gaming Commission for online betting. Upon proper government approvals, IGT plans to offer the technology in the US to other licensed operators and not compete directly with casinos for customers.
Hart’s current bio states “she has a “Bachelor’s degree in marketing and economics from Illinois State University”. In fact, she was awarded a Bachelor of Science degree in Business Administration with an Illinois State University Admission & Records Specialist, who also said her transcript reflected a majority of business administration courses.
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A 1991 bio and others for Hart correctly identify her degree in Business Administration. At some point Hart (or someone at Hart’s direction) decided to change the description of her education in her professional bios.”
Of the 13 individuals that make up IGT’s current Board and executive management team, only two individuals—Philip Satre and Robert Miller— had significant experience in casino gaming and related areas prior to joining IGT.
Ader is a member of the board of directors of Sands who is presenting a slate to serve on the board of IGT – and Ader has previously appeared on CNBC advocating that Internet Gambling be legalized.
In 2005, IGT purchased the UK focused online gaming suppler Wagerworks for $90 million - Wagerworks supplies casino and slot games to various online gaming sites, including Paddy Power, William Hill and Betfair. The company provides over 100 real money wagering options for customers. IGT Software provides casino, poker, sports betting and other online products in 19 languages and 30 currencies. IGT is also known for some of their on-line slots including Cluedo and Monopoly, Wheel of Fortune and others.
This proxy fight means a lot for investors and the online gaming industry.
- Aaron Goldstein, Gambling911.com
