Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for a major merger between IGT and Everi Holdings, a merger valued at $6.3 billion. This merger could potentially reshape the gaming supplier landscape, as Apollo Global Management guides the deal through regulatory scrutiny. Details about the merger will impact how the gaming industry operates, with a final ruling from the Nevada Gaming Commission expected on 26 June.
Key Points
- The Nevada Gaming Control Board has approved the merger during a recent meeting.
- Apollo’s acquisition combines the gaming and financial tech businesses of IGT and Everi.
- The merged entity will remain headquartered in Nevada, further emphasising the state’s influence in the gaming industry.
- Nick Khin will serve as interim CEO, with plans for Hector Fernandez to take over later this year.
- The new business aims to close the gap with competitors like Aristocrat and Light & Wonder.
Why should I read this?
If you’re in the gaming sector, you’ll want to keep an eye on this potentially game-changing merger. With IGT and Everi shaking up the industry, this deal could influence everything from compliance to product innovation. It’s good to know what’s brewing in the boardrooms—don’t miss out!