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IGT Reports Dissident Ader Withdraws From Proposed Slate

International Game Technology dissident investor Jason Ader dropped his bid for a board seat at the company, while continuing to back a slate of candidates.

Ader, who runs New York-based Ader Investment Management LLC, said he intends to nominate three candidates, according to a regulatory filing today. He said the group believes IGT is undervalued as a result of the company’s lack of focus on its core slot machine business, poor capital allocation decisions and management that is inexperienced in gaming.