IGT files preliminary proxy materials

IGT's Board of Directors recommends shareholders vote FOR the Board's eight highly qualified and experienced directors, seven of whom are independent, on the WHITE proxy card—Paget L. Alves, Janice Chaffin, Greg Creed, Patti S. Hart, Robert J. Miller, David E. Roberson, Vincent L. Sadusky and Philip G. Satre.

IGT's Board is comprised of highly experienced professionals with expertise across a wide range of disciplines and industries critical to IGT's business, including gaming, hospitality, technology and finance. In addition, IGT directors have extensive operations and management experience at the highest levels of both public and private companies. IGT's Nominating and Corporate Governance Committee regularly reviews the representation of relevant skills and experience on the Board and considers new, qualified candidates to ensure the Company is poised for future growth.  As a result, the Company has substantially reconstituted its eight-member Board, adding six new independent directors over the last five years. 

IGT's Board has overseen management's successful implementation and execution of the Company's turnaround strategy, which has strengthened the Company's core gaming equipment business, generated strong financial results and positioned the Company for continued growth and value creation.  In fiscal 2012, IGT expanded its global leadership by successfully pursuing international growth opportunities and acquiring the world's largest social casino.  Over the same period, the Company increased revenues, gross margins, ship share and prices in its core North American business. Importantly, the Company has delivered three straight years of double-digit growth in adjusted earnings per share from continuing operations, and returned $860 million in capital to IGT shareholders. Adjusted earnings per share from continuing operations is a non-GAAP measure; reconciliation of non-GAAP to GAAP measures is included at the end of this release.

IGT's Board and management team are committed to acting in the best interests of the Company and all IGT shareholders, and therefore the IGT Board recommends that you vote FOR all of IGT's nominees on the WHITE proxy card at the Company's 2013 Annual Meeting.

IGT notes that it has received a Notice of Intent to Nominate four director candidates for election to the IGT Board at the Company's 2013 Annual Meeting of Shareholders. The Notice of Intent to Nominate was submitted by Ader Investment Management LP in conjunction with and on behalf of Charles N. Mathewson, the former Chairman and CEO of IGT, and Richard H. Pickup, a longtime associate of Mr. Mathewson (the "Ader Group"). The Ader Group has indicated that, collectively, it has beneficial ownership of 8,053,890 shares of IGT common stock, or approximately 3 percent of total IGT shares outstanding.  The Ader Group has informed the Company that it intends to nominate Jason N. Ader, Raymond J. Brooks, Charles N. Mathewson and Daniel B. Silvers.

IGT welcomes communications with its shareholders and values input toward the goal of enhancing shareholder value. Accordingly, IGT and its representatives have been in regular communication with Mr. Ader over the last several months through numerous telephone calls, email exchanges and face-to-face meetings, including Mr. Ader's November 2012 presentation to the full IGT Board.  IGT has provided multiple opportunities for the Ader Group to offer plans or strategies to enhance shareholder value, but to date, it has not suggested any constructive alternatives to the Company's strategy. 

The Board believes that the Ader Group's proxy fight is the result of a long-running dispute between IGT and Mr. Mathewson, the former Chairman and CEO of IGT.  Following Mr. Mathewson's retirement in 2003, he has repeatedly attempted to exert influence over the Company's operations and extract personal financial benefits at the expense of all other shareholders.  In 2010, the IGT Board severed all financial ties with Mr. Mathewson. 

The IGT Board and the Nominating and Corporate Governance Committee have carefully evaluated the qualifications of the Ader Group's nominees.  The IGT Board strongly believes that the Ader Group nominees, if elected, may seek to advance an agenda that is not in the best interests of all IGT shareholders.
The board recommends shareholders vote only for igt's nominees on the white proxy card and not to sign or return or vote any proxy card sent by the ader group. 

The Company will be scheduling its 2013 Annual Meeting in the very near future.