Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given its initial approval for the IGT-Everi merger, valued at a staggering $6.3 billion. This significant corporate deal could reshape the gaming supplier landscape as key stakeholders gathered to discuss regulatory compliance and ownership transfers associated with the merger. The approval is a milestone in the ongoing complex merger.
Key Points
- IGT-Everi merger valued at $6.3 billion marks one of the biggest in the supplier sector.
- Initial approval granted by the Nevada Gaming Control Board during its last meeting under outgoing chairman Kirk Hendrick.
- Apollo Global Management is acquiring both companies, with intentions to boost long-term value creation.
- The new entity will be based in Nevada, which is significant given the state’s influence in the gaming industry.
- Approval from the Nevada Gaming Commission is expected on 26 June.
Why should I read this?
If you’re in the gaming industry or just keen to keep up with major shifts in business dynamics, then this merger is a top story to follow. Understanding how this deal works could give you insights into the industry’s future, as it might signal broader trends and potential for innovation in gaming technologies. Plus, we’ve distilled all the essential bits so you don’t have to wade through the complexities!