Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for one of the largest corporate mergers in the gaming sector, involving Apollo Global Management’s acquisition of IGT and Everi Holdings. This deal is expected to reshape the gaming supplier landscape significantly. The merger includes a $6.3 billion acquisition and aims to enhance the product offerings for operators in the gaming industry.
Source: Nevada board gives initial approval to IGT-Everi megadeal
Key Points
- Apollo Global Management is acquiring IGT and Everi Holdings for approximately $6.3 billion.
- This merger is set to reshape the gaming supplier landscape with significant implications for the future of casino technology.
- Nick Khin has been approved as interim CEO of the new entity, with Hector Fernandez taking over later this year.
- The merged entity will be headquartered in Nevada, highlighting the state’s regulatory importance.
- Fitch Ratings maintains a positive outlook for the newly formed company based on its substantial slot machine base.
Why should I read this?
If you’re in the gaming or tech sectors, this article reveals the ins and outs of a potentially game-changing merger. With big players like IGT and Everi at the forefront, understanding this deal could provide critical insights into future market dynamics. Don’t miss out on the details that could impact your strategy!