Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given the first nod to the $6.3 billion merger between IGT and Everi, a deal that could reshape the gaming supplier sector. The meeting chaired by Kirk Hendrick included discussions about ownership transfers and compliance. The transaction is now set for a final ruling on 26 June.
Key Points
- The merger was discussed at the last Nevada Gaming Control Board meeting under Chairman Kirk Hendrick.
- IGT’s substantial lottery business will be split into a separate publicly traded company.
- Apollo Global Management aims to merge IGT’s gaming operations with Everi’s financial technology.
- The new entity will be established as a private company, retaining the IGT brand.
- The merger represents a significant industry deal amidst ongoing regulatory requirements.
Why should I read this?
If you’re into gaming or corporate mergers, this is the deal to watch! With IGT and Everi merging under Apollo’s guidance, this could pivot the industry landscape in more ways than one. Get a jump on the details and implications of a merger that might just change the game!