Nevada board gives initial approval to IGT-Everi megadeal
Summary
The recent Nevada Gaming Control Board meeting gave initial approval for a major corporate merger between International Game Technology (IGT) and Everi Holdings, valued at $6.3 billion. The merger could reshape the gaming supplier landscape, with the new entity expected to be headquartered in Nevada.
Key Points
- IGT and Everi are set to merge after Apollo Global Management’s acquisition.
- Nick Khin, president of IGT, is being considered for interim CEO of the new entity.
- The merger aims to close the margin gap with competitors like Aristocrat and Light & Wonder.
- Fitch Ratings has maintained a stable rating for Everi, predicting favourable performance post-merger.
- The Nevada Gaming Commission will make a final ruling on 26 June.
Why should I read this?
If you’re interested in the gaming industry, this article sheds light on one of the biggest mergers in recent history, highlighting potential shifts in market dynamics. Knowing what these developments mean could save you confusion down the line—as they could shape the landscape of gaming technology and supply in ways you won’t want to miss out on!