Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given the initial nod to the merger between International Game Technology (IGT) and Everi Holdings, marking a monumental step in a potential $6.3 billion deal. This merger is poised to reshape the gaming supplier landscape significantly.
Key Points
- The merger could close by the end of June, subject to final approval from the Nevada Gaming Commission.
- The new entity will incorporate IGT’s gaming and Everi’s financial technology businesses, retaining the IGT name.
- Apollo Global Management, the acquiring firm, has a history of significant investments in the gaming sector.
- This merger aims to close the operational gap between IGT and its competitors Aristocrat and Light & Wonder.
- The combined entity is expected to unlock substantial cross-selling opportunities in the gaming market.
Why should I read this?
If you’re in the gaming industry or just curious about major corporate moves, this article’s worth a peek! The IGT-Everi merger could change the game (literally) and impact future tech and trends in the sector. Get clued up on what’s happening to stay ahead!