IGT sends letter to shareholders highlighting outstanding results since 2009

IGT enhanced its content strategy, expanded its international presence, improved its internal infrastructure and cost structure and returned significant capital to shareholders. Under the guidance of the Board, the management team has positioned IGT for long-term growth and strongly believes the interests of shareholders will be best served by a continued focus on its growth strategy.

The letter reiterates the Board's unanimous recommendation that IGT shareholders vote for the eight highly-qualified incumbent directors standing for reelection at company's 2013 Annual Meeting on the white proxy card.

The full text of the IGT Board's letter is below:

Dear Fellow IGT Shareholder:

We are writing to you today to highlight some of the outstanding results the IGT management team has achieved since joining the company in 2009:
IGT's share price has outperformed peer index
IGT's financial performance continues to show significant improvement since 2009,
reflecting management's successful execution of IGT's comprehensive plan
·     Over the past three years, IGT's Board of Directors and management team have successfully charted a course for the Company that is both strategically and financially sound.
·    As a result, IGT's financial performance has improved substantially since 2009, with the Company showing increases in revenue and ship share (a common industry measure of market share), as well as adjusted operating income and adjusted earnings per share (EPS) from continuing operations.
·    In 2013, the company expects to build on this momentum and to deliver its fourth consecutive year of double-digit growth in adjusted EPS from continuing operations.
Management initiatives have reversed decline in market share and driven increase in market capitalization
·    Ship share under IGT's prior CEO dropped by over 30 percentage points, corresponding with a dramatic decline in operating performance and a loss of $6.6 billion, or roughly 70%, of IGT's market capitalization.
·    Under the leadership of Patti Hart, IGT has achieved improved ship share in recent years, and its market capitalization has increased by $1.4 billion, or roughly 50%.
Customers increasingly endorsing IGT's win per machine
·    IGT's customers have responded to our "Customer First" approach and to our renewed focus on product quality.
·    In 2012, IGT was selected by 46% of customers as having highest win per machine, up 33% since 2010. The highest number of customers now rate IGT as having the highest win per machine among our domestic competitors.
·    Win per machine is the metric customers care about most because it reflects profits generated for their benefit.
IGT is successfully executing on international growth opportunities
·    Internationally, IGT is the clear leader among U.S gaming equipment manufacturers, and IGT continues to widen its lead in key international growth markets.
·    IGT was first in its industry to leverage locally attuned content in order to drive international performance.
·    IGT is enhancing access to international markets through the distribution of its licensed content.
Double Down provides IGT with an industry-leading position in the rapidly growing online social casino market to create value for shareholders
·    DoubleDown Casino is the second highest grossing game on Facebook, with Average Bookings per Daily Active User per Unit of ~$0.31, as compared to~$0.05 for Zynga.
·    The online casino gaming market remains the highest growth segment of the gaming industry -- analysts estimate 15-33% annual growth over the next three years, compared to 5 - 7% for the traditional gaming equipment space.
·    First-mover advantage is critical in this space; IGT has established a strong position with its acquisition of Double Down Interactive and remains ahead of the curve.
·    IGT's strategy has been validated by the entrance of other suppliers seeking to drive revenue by capitalizing on the rapid growth of online casino-style gaming.
·    Double Down is performing better than anticipated and remains on track to be GAAP accretive in 2014.
IGT's responsible approach to capital allocation- balances investment with capital return to shareholders
·    The company's industry-leading installed base generates tremendous cash flow, which IGT uses prudently to grow its business and return capital to shareholders.
·    Since 2009, IGT has invested nearly us$ 800 million in R&D, and has strategically deployed us$ 750 million to enhance its core electronic gaming business, while returning more than us$ 860 million to shareholders over that same period of time.
·    Included in the us$ 860 million is approximately us$ 400 million from last fall's accelerated share repurchase program, which was authorized by the Board after a careful consideration of all of the alternatives available for executing the buyback. Likewise, the size of the program was set by the Board taking into account the company's long term strategy and the long term best interests of the shareholders.
·    IGT has approximately us$ 600 million remaining under its existing share repurchase authorization, which it is committed to deploying.
IGT offers a shareholder-friendly governance structure
IGT's strategy has taken hold, demonstrating IGT's attractive long-term growth trajectory
·    The Board and management team have positioned IGT for long-term growth and significant value creation, and believe the interests of shareholders will be best served by IGT's continued focus on its growth strategy.
·    In addition to continued growth in gaming operations and product sales, IGT is positioned to grow by leveraging new technologies and changing industry dynamics through its focus on interactive gaming.
Protect Your Investment – Cast Your Vote on the Enclosed white proxy card now!

In contrast to your IGT Board and management team, which is delivering solid results and has clearly articulated a strategic plan to continue driving growth and value creation, the Ader / Mathewson Group has offered no specific plan for IGT. The IGT Board believes that the Ader / Mathewson Group has no real plan to enhance shareholder value and does not recognize that online, social and mobile gaming represent a significant opportunity for future value creation.

The Board believes that the Ader / Mathewson Group nominees, if elected, would seek to pursue a path that represents a large step backward for IGT.
The IGT Board of Directors unanimously recommends that you vote FOR IGT's eight highly qualified and experienced directors – Paget L. Alves, Janice Chaffin, Greg Creed, Patti S. Hart, Robert J. Miller, David E. Roberson, Vincent L. Sadusky and Philip G. Satre – by telephone, Internet or by signing, dating and returning the enclosed WHITE proxy card.
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o view the company's most recent investor presentation from February 2013, please visit the "Investor Relations" section of IGT's website at www.igt.com. This presentation is also available on the Securities and Exchange Commission website at www.sec.gov.

On behalf of the International Game Technology Board of Directors, we thank you for your continued support:

Philip G. Satre, Chairman of the Board
Patti S. Hart, Chief Executive Officer