Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for the $6.3 billion merger of IGT and Everi, marking a significant moment in the gaming supplier landscape. This deal, facilitated by Apollo Global Management, could reshape the industry and is expected to close by the end of June.
Key Points
- The merger of IGT and Everi by Apollo represents one of the largest deals in the history of the gaming sector.
- Approval includes significant discussions on ownership transfers and corporate compliance efforts.
- IGT’s lottery business will be spun off into a separate publicly traded company.
- The merged entity will be headquartered in Nevada, making it crucial for regulatory approvals.
- The deal promises to enhance competition against major players like Aristocrat and Light & Wonder.
Why should I read this?
If you’re interested in the gaming industry, this article is a must-read! It’s not every day you get to see big mergers like this happening, especially one that can change the competitive landscape. Plus, it gives you the scoop on the regulatory hurdles and corporate strategies that shape the industry. We’ve done the reading for you, so you can stay ahead and informed without all the fuss.