Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for a major merger between International Game Technology (IGT) and Everi Holdings, as part of a $6.3 billion deal by Apollo Global Management. This significant corporate merger could reshape the gaming supplier landscape and consolidates the gaming and financial technology sectors. The new entity will retain the IGT name and operate from Nevada.
Key Points
- The Nevada Gaming Control Board approved the IGT-Everi merger during its last meeting under outgoing Chairman Kirk Hendrick.
- IGT’s gaming business will merge with Everi’s technology operation, while IGT’s lottery business will be spun off independently.
- The combined company will have a substantial market presence, with expectations to surpass competitors Aristocrat and Light & Wonder in slot machine units.
- The merger is set to close by 1 July, pending approvals from additional jurisdictions.
- Long-term goals include enhancing product offerings and innovation to strengthen their position as a key supplier within the industry.
Why should I read this?
If you’re in the gaming industry or just curious about the latest corporate shifts, this article is a must-read! The IGT-Everi deal stands to redefine the gaming landscape with massive implications for suppliers and operators alike. Knowing the details can help you understand the direction of future gaming technologies and market dynamics.