Computerized gaming equipment maker International Game Technology (IGT) said Thursday that it appointed Philip Satre as chairman of the board, effective December 1, replacing T.J. Matthews, who is stepping down from the post. Satre joined the company's board earlier this year. Matthews, former chief executive of the company, will continue to serve on the board. Satre was appointed to Reno, Nevada-based IGT's board in January of 2009 and he also serves as chairman of Nevada Energy, Inc. In addition, he is a board member of Nordstrom Inc., Rite Aid Corp., Stanford University and the National World War II Museum.
Satre retired from Harrah's Entertainment, Inc. in 2005, after serving on the company's board since 1988 and as chairman since 1997. He also held various management positions at Harrah's, including the post of chief executive officer of Harrah's Entertainment, president and CEO of Harrah's Gaming Division, and vice president, General Counsel and Secretary. Commenting on Satre's appointment, Patti Hart, IGT president and chief executive officer said, "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 became the president and chief executive officer of IGT in April 2009 after the resignation of Matthews. But Matthews was continuing as the Chairman of the board. Matthews said, "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."
Earlier this year, the company had named Richard Schneider as executive vice president of product strategy and in his new role, Schneider is responsible for the integration of IGT systems and games into one organization. He was the company's executive vice president of server-based gaming since 2006 and president of IGT Systems since 2004. IGT is the maker of slot machines and other electronic casino games and sells the majority of its products directly to casinos. It produces nearly 70% of slot machines in North America. It also offers integrated casino customer relationship management solutions; multi-player suite that provides community-style gaming on a common display; and Digideal electronic table games. In addition, the company supplies integrated casino and jackpot management solutions for the gaming industry worldwide. IGT is currently trading at $21.92, down $0.30 or 1.35%, on a volume of 407 thousand shares.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.