Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Summary
The Nevada Gaming Control Board has given initial approval to one of the biggest mergers in the gaming supplier sector, with IGT and Everi poised to merge under Apollo Global Management. The deal, valued at $6.3 billion, aims to reshape the gaming landscape and is expected to close by the end of the month.
Key Points
- The merger between IGT and Everi has been approved unanimously by the Nevada Gaming Control Board.
- Nick Khin is set to be the interim CEO of the new entity, with Hector Fernandez taking over later this year.
- Apollo plans to enhance offerings by merging the companies’ gaming and financial technology products.
- The combined entity will retain the IGT name while spinning off its lottery business into a separate public company.
- Regulatory approval is still needed in eight jurisdictions before the deal can close.
Why Should I Read This?
If you’re into the gaming industry or investments, this one’s a big deal! We’re talking about a major change in the gaming supplier world that could reshape the competitive landscape. Don’t miss out on the nitty-gritty details of a merger that could mean big things for IGT and Everi!