Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for a significant merger between IGT and Everi, marking a pivotal moment in the gaming industry. This $6.3 billion deal could be finalised by the end of the month, reshaping the supplier sector.
Key Points
- The merger involves Apollo Global Management acquiring IGT and Everi, aiming to create a leading gaming technology firm.
- The Nevada board approved the merger unanimously, a significant step in the regulatory process.
- IGT’s sizable lottery business will be spun off into a separate entity.
- The combined firm will allow for increased product offerings and potential growth in the gaming market.
- Regulatory hurdles remain, with approvals needed from eight additional jurisdictions.
Why should I read this?
If you’re at all interested in the gaming industry, this merger is a big deal! It’s not just numbers on a sheet; it’s reshaping the competitive landscape. Great for anyone looking to understand the future of gaming and technology.