Tuesday, February 12, 2013

When What Happens In Vegas…..A Hedge Fund Manager's Brutal Take On The Biggest Slot Machine Company In The World

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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