The successful businessman and philanthropist, Charles “Chuck” Mathewson, passed away at age 93. He passed away on Sunday, October 24 in his home in Reno, Nevada. Besides being a successful businessman and philanthropist, Mathewson was also an inspiring figure for anyone who had the pleasure to meet him.
Charles Mathewson Dies at Age 93
Although he is best known for bringing incredible success to Nevada-based slot machine manufacturer International Game Technology (IGT) his beginnings are humble. Mathewson worked in a family grocery business. Moreover, he served the US Army for two years.
It was back in 1953 when he earned a finance degree from the University of Southern California via the GI bill. Upon starting his career within the securities business, Mathewson was involved in multiple businesses as well as art projects in California.
“Chuck lived an exciting and successful life as a veteran, businessman, philanthropist, and friend to everyone he met,”
reads a statement released last week by Mathewson’s family
Before moving from California to Nevada, Mathewson co-founded Jefferies & Company. In the 1980s, he moved to Nevada and invested in IGT, which at the time was a small slot machine manufacturer. Once Mathewson moved to Nevada in 1985, he joined IGT’s board of directors.
He became even more involved in the company, considering that a year later, IGT’s founder, William Redd, asked him to lead the company’s board of directors as chair. Mathewson did not hesitate and agreed to the offer. Overall, Mathewson was a chair of the board of directors at IGT between 1986 and 2003. During the time he was a part of IGT, the company grew from a small slot manufacturer to a major industry player.
During Mathewson’s Tenure, IGT Introduced Its Most Successful Slot Machine, New Technology
During Mathewson’s tenure at IGT, the company introduced the highly-successful ticket-in, ticket-out (TITO) technology. The technology brought groundbreaking success for the company, considering that the competitors used coins at that time. Mathewson has also contributed significantly to the University of Nevada, Reno.
Moreover, while Mathewson was heading the board of directors at IGT, the company introduced one of its most successful slot machines ever. The Wheel of Fortune slot machine, which has the same name as the famous TV show, was introduced in 1996. The slot machine has proved to be the most popular game in America for the last 25 years and made more millionaires than any other brand.