Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for a significant merger between International Game Technology (IGT) and Everi Holdings, backed by Apollo Global Management. Worth $6.3 billion, this deal could reshape the gaming supplier market and is set to close by the end of June.
Key Points
- The merger merges IGT’s gaming and lottery business with Everi’s financial technology segment.
- IGT will maintain its brand while its lottery operation will become a separate entity.
- The Nevada Gaming Commission is set to provide final approval on 26 June.
- The deal aims to enhance competitive standing against rivals like Aristocrat and Light & Wonder.
- The outstanding regulatory approvals needed are expected to be obtained by 1 July.
Why should I read this?
If you’re in the gaming industry or just curious about big business moves, you’ll want to dive into this article. The IGT-Everi merger could significantly change the landscape, impacting how games and technologies evolve in the casino world. We’re breaking down all the nuts and bolts so you can stay ahead of the game!