Schneider out at IGT; Isle cancels stock sale
Here are a couple of gaming notes that I found in my in-box while I was in not-so-sunny San Diego last week:
International Game Technology lost an executive responsible for its server-based gaming system development.
In a statement, the company said Rich Schneider was leaving the Reno-based slot machine maker after seven years “to seek another opportunity.”
Schneider, IGT’s senior vice president of network systems, joined the company in 2003 when IGT bought Acres Gaming, where he, was president and chief operating officer.
IGT COO Eric Tom said Schneider, 52, was responsible for the rollout of IGT’s server-based gaming system last year at Aria, CityCenter’s centerpiece hotel-casino.
IGT also said Chief Technology Officer Chris Satchell would expand his role to include research and development.
Meanwhile, casino operator Isle of Capri Casinos announced plans on June 28 to issue 9 million additional shares of the company’s common stock on the NASDAQ National Market.
Four days later, the St. Louis-based company postponed the proposed public offering due to “recent market conditions.” No date was given as to when Isle of Capri might restart the public offering.
The company intended to use a portion of the proceeds to repay a credit line used last month to buy the Rainbow Casino in Vicksburg, Miss., from Bally Technologies for $80 million.
Isle’s share price, which has fluctuated between $7.05 and $13.75 over the past 52 weeks, closed at $9.20 last Friday.