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September 15, 2014

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Former IGT exec steps down as board chairman

T.J. Matthews, former International Game Technology chief executive officer, is stepping down as chairman of the IGT board of directors but will remain on the board.

Matthews will be succeeded as chairman Dec. 1 by board member Phil Satre, former chairman and chief executive of Harrah's Entertainment Inc.

In a statement today, the Reno company didn't say why the change was made but suggested it's part of the management transition initiated when it was announced March 24 that Patti Hart would succeed Matthews as CEO.

Satre joined the IGT board in January. He's also chairman of NV Energy and is a board member of Nordstrom Inc., Rite Aid Corp., Stanford University and the National World War II Museum.

"Phil Satre brings a tremendous wealth of gaming industry experience and, most importantly, a customer's perspective to his new position which will benefit IGT now and for many years to come," Hart said in a statement.

"Congratulations to Phil Satre in accepting the leadership role of our board," Matthews said in a company statement. "I appreciate his contribution to our management succession efforts and I am looking forward to assisting Phil and Patti as our industry recovers and IGT continues its advancements in both games and technology."

Satre, who retired from Harrah's in 2005, said: "I am very excited about the opportunity to help lead a great company into the future. Despite the challenges facing our industry today, I am very optimistic about the future of gaming and the company's future."

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