Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for a $6.3 billion merger between IGT and Everi, a significant move that could reshape the gaming supplier landscape. Chairman Kirk Hendrick led the review process, which included discussions about ownership and compliance protocols. If finalized, the merger will see IGT’s gaming business combine with Everi’s technology operations.
Key Points
- The merger represents one of the largest deals in the gaming industry.
- IGT’s lottery business will be spun off into a separate publicly traded company.
- Apollo Global Management is leading the acquisition, expecting to drive long-term value creation.
- The new entity will aim to close the operational gap with competitors like Aristocrat and Light & Wonder.
- Approval from eight additional jurisdictions is required for the merger to proceed.
Why should I read this?
If you’re interested in the future of the gaming industry, this merger could be a game-changer. It’s about more than just numbers—this might set the stage for how suppliers function moving forward and could shift the competitive balance in the sector. Reading up on this provides you with insight into a deal that’s about to make waves. Don’t miss it!