IGT Proxy Fight on CNBC: Ader Says Stock Price Should be Much Higher
Gaming analyst-turned advisor Jason Ader spoke Wednesday afternoon on CNBC regarding the ugly proxy fight at IGT.
Ader is spearheading efforts to take control of the board.
“There is a limited amount of gaming expertise (within IGT),” Jason Ader said regarding the current board members.
Ader feels IGT shares are very undervalued.
“Gaming companies are less healthy but there is big demand,” he noted.
IGT’s current management told CNBC that Ader had “no plan”.
“We want to see the stock price much higher,” Ader said.
Casino mogul Steve Wynn earlier in the week blasted current management including CEO Patti Hart for remarks she made about the prior Chairperson Charles Mathewson, who is working with Ader to regain a seat on the board.
"I am personally saddened by what appears to be a paid professional attempt to smear him," Wynn said. "I'm left with the impression that such an effort is motivated by IGT's current management's attempt to distract shareholder attention from current performance."
"People who worked for (Mathewson) held him in the highest regard, as did every major company in the gaming industry with whom he dealt so successfully," Wynn added.
- Chris Costigan, Gambling911.com
