Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the merger of IGT and Everi, a deal projected to reshape the gaming supplier landscape. Apollo Global Management aims to finalise the $6.3 billion acquisition by the end of June. The gaming entity will be headquartered in Nevada while IGT’s lottery business is spun off separately.
Source: Nevada Gaming Control Board Agreement
Key Points
- The merger could be finalised by the end of June 2025.
- IGT’s sizeable lottery operations will be spun off into a publicly traded company.
- The new entity will allow for more cross-selling opportunities within the gaming technology sector.
- Apollo Global seeks to enhance product offerings and innovation in the gaming space.
- Fitch Ratings has maintained a positive outlook on the merged company.
Why should I read this?
If you’re into gaming and tech, this merger is a big deal! It could really shake things up and set the stage for new innovations in the industry. Knowing the ins and outs of such a significant move will keep you ahead of the game in understanding where the market is heading.