Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the IGT-Everi merger, a significant move that could reshape the gaming supplier landscape. This merger, involving a $6.3 billion double acquisition by Apollo Global Management, is set to complete by the end of the month, pending further regulatory reviews.
Key Points
- The merger of IGT and Everi, valued at $6.3 billion, was discussed in detail at the Nevada Gaming Control Board meeting.
- Apollo Global Management is spearheading the acquisition, aiming to create a powerhouse in the gaming technology sector.
- Nick Khin of IGT has been approved as interim CEO for the merged entity, which will retain the IGT name.
- The launch of the new entity and its implications for the market were underscored during discussions.
- The Nevada Gaming Commission is set to provide final approval on 26 June after this initial green light.
Why should I read this?
So, here’s the deal: if you’re into the gaming industry or just keen on the latest mergers shaping your favourite companies, this is hot off the press! The IGT-Everi merger is packing some serious weight and could significantly shift the landscape of the industry, so dive in and get the latest scoop!