Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for the monumental merger between IGT and Everi, a deal that could reshape the gaming supplier landscape. During a meeting, representatives from Apollo Global Management detailed the $6.3 billion acquisition, which is set to close by the end of June if all approvals are received.
Key Points
- The Nevada Gaming Control Board provided initial unanimous approval for the IGT and Everi merger.
- Apollo Global Management is set to acquire both companies for $6.3 billion.
- IGT’s lottery division will be spun off into a separate publicly traded company.
- Nick Khin, IGT’s current president, is acting as interim CEO of the new merged entity.
- The merger aims to close the competitive gap with rivals Aristocrat and Light & Wonder.
Why should I read this?
If you want to keep tabs on the gaming industry, this article is essential! The IGT-Everi merger isn’t just another boardroom deal; it could significantly influence the gaming landscape. Understanding these big moves can provide insight into the future of gaming technology and regulation. Plus, you’ll be the one with the inside scoop!