Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the merger between IGT and Everi, a deal that could reshape the gaming supplier landscape significantly. This follows a complex regulatory review involving Apollo Global Management’s $6.3 billion acquisition of both companies. The merger aims to combine IGT’s extensive gaming operations with Everi’s financial technology solutions, creating a dominant new entity in the industry.
Key Points
- The merger aims to strengthen IGT against competitors like Aristocrat and Light & Wonder.
- Approval from Nevada is crucial as it is a key state for the gaming industry.
- The combined company will focus on creating a comprehensive technology supplier for casinos.
- Fitch Ratings maintains a stable outlook for Everi, with positive expectations for the merger’s performance.
- Completing the merger requires further approvals from multiple jurisdictions, including Pennsylvania.
Why should I read this?
If you’re interested in the gaming industry, this article covers a major shift in the market landscape with the potential for significant impacts on technology and competition. Knowing about this merger means you’re ahead in understanding future developments that could shape the industry’s direction.