Nowadays on Wall Street, when you go to war, you present
your case... thoroughly. So naturally, the battle between hedge fund manager
Jason Ader (and his allies) and IGT (the biggest slot machine company in the
world) is no exception.
Ader, who owns 3% of IGT, started a fight when he wrote a
letter to IGT's management saying that he wanted to replace four (now three) of
the company's board members (check out his Rescue IGT website here).
IGT has answered with a resounding 'no', and since the
company services some of the biggest names in the casino world, Las Vegas'
elite are being forced to pick sides or get out of the way.
Steve Wynn, for example, is throwing his weight behind Ader,
Sheldon Adelson has chosen to stay out of the way….
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