Ader vs. IGT: Hart wins, Adelson loses

This just in … the long-awaited showdown at the International Game Technology shareholder meeting has taken place and seven of the eight incumbents were re-elected, including two heavyweight allies of beleaguered CEO Patti Hart: former Harrah’s Entertainment CEO Phil Satre and former Nevada governor Bob Miller. Only director David Roberson got the boot, with Ader Investment Management President Daniel Silvers being elected in his place. Two other Jason Ader-backed candidates lost. Hart is safe to continue pursuing her innovative or erratic (depending on your perspective) strategies for growing IGT. Ader continues to hold a small position (3%) in IGT stock and now has a foothold in the boardroom, so he’s not done making mischief by any means. Neither is Sheldon Adelson, for whose derriere-garde efforts to thwart Internet gambling Ader has acted as a catspaw. In that respect, both men are on the losing side of the war. Adelson is accustomed to being on the wrong end of history by now but Ader still has a chance to salvage his reputation, as opposed to joining the Mossbacked Anachronism Brigade.