Wynn Resorts chief comments on IGT board feuding

The strong wording and ad hominem nature of the latest IGT attack on former chairman Charles Mathewson has prompted land casino mogul Steve Wynn to issue a statement in support of Matthewson.

In the statement Wynn comments that his company had enjoyed a business relationship with IGT during Mathewson’s 17 years as chairman and CEO, adding:

“I am personally saddened by what appears to be a paid professional attempt to smear him. 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 claimed.

In its latest statement issued Friday urging shareholders to reject an attempt by Matthewson and three others to gain seats on its board, IGT chairman Phil Sartre and CEO Patti Hartclaimed:

“Mathewson engaged in questionable compensation practices, expected IGT to fund his lavish lifestyle, and exerted his influence over the board long after retiring as chairman in 2003.

“Further, despite having amassed enormous personal wealth over the course of his tenure at IGT, Mr. Mathewson expected IGT’s shareholders to continue funding his lavish lifestyle after his retirement from the Board. IGT shareholders reimbursed Mr. Mathewson and his personal staff for numerous perquisites, benefits and expenses.”

Mathewson also issued a statement late Friday, saying he was “disappointed in the misleading and untruthful personal attacks that IGT levelled against me.”

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