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Is IGT in Trouble? (2 of 2)

Morro’s successor at IGT has not yet been named. The slot machine software provider’s sitting Chief Executive Officer, TJ Matthews, announced that he would be assuming Morro’s responsibilities for the time being. With Matthews operating as not only CEO and COO, but President as well, some experts have expressed concerns that his coverage of the company’s most essential duties could be spread too thin. It’s not only the loyal land-based and online slots fans of the company that are worried, it’s IGT shareholders as well.

Matthews has only addressed the speculation by commenting that IGT is in a “restructuring mode.” He stated that the company is looking for ways to cut expenses by possibly shifting up the internal structure of IGT. He refuted the notion that the slot machine company is doing poorly enough for employees to be concerned about their jobs, and that workers need not worry that “restructuring” will equal layoffs.

Right now, much of the casino gambling industry is in survival mode. Everyone involved is hoping that the economic situation in America will rebound and breathe new life into the gaming business. It could be the case that IGT simply needs to make some necessary adjustments to help them get through the tough months and emerge as a major player on the other side of the storm.

If IGT is in fact in trouble, however, slot game gambling pros believe that Matthews is definitely the best guy to help the company pill through. And things can’t be all stormy at IGT: one of its subsidiaries, the British software firm Wager Works, licenses one of the top online slot machine casinos in the United Kingdom.

Back to September 2008 Archive.