Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for one of the most significant mergers in the gaming supplier sector, potentially reshaping the industry landscape. Apollo Global Management’s $6.3 billion acquisition of IGT and Everi is poised to close by the end of June. Key players involved discussed compliance and operational changes during the board meeting.
Key Points
- The merger could redefine the gaming supplier landscape with Apollo’s acquisition of IGT and Everi.
- The Nevada Gaming Commission will issue a final ruling on June 26.
- The new entity will remain privately held under the IGT name, while its lottery business will be spun off into a separate public company.
- Apollo aims to enhance innovation and long-term value creation in the gaming sector.
- The merged entity is expected to exceed the slot machine base of major competitors.
Why should I read this?
If you’re into the gaming scene, this megadeal is a game changer (pun intended!). The merger of IGT and Everi under Apollo’s leadership could shake up the industry, enhance product offerings, and lead to more innovation. Don’t miss out on the juicy details behind such a monumental shift!