Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Summary
One of the biggest corporate mergers in the supplier sector is set to shake things up as the Nevada Gaming Control Board gives initial approval for Apollo Global Management’s acquisition of IGT and Everi Holdings. This $6.3 billion merger could redefine the gaming supplier landscape, with the final ruling from the Nevada Gaming Commission expected on 26 June.
Source: Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Key Points
- Apollo’s acquisition of IGT and Everi is valued at $6.3 billion and aims to combine their gaming and financial technology strengths.
- The merger will see IGT’s lottery business spun off into a publicly traded entity.
- The Nevada Gaming Commission is expected to make a final ruling on the merger on 26 June.
- Apollo is positioning the new entity to close gaps with top competitors, Aristocrat and Light & Wonder.
- Compliance and regulatory discussions have been central to the approval process, especially regarding AML violations in the industry.
Why should I read this?
This article reveals a significant shift in the gaming industry with the impending merger of IGT and Everi, backed by Apollo. If you’re into the gaming sector or just curious about corporate mergers, you won’t want to miss how this deal could reshape the supplier market and what it means moving forward!