Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the IGT-Everi merger, an ambitious $6.3 billion deal expected to reshape the gaming supplier industry. Executives from Apollo Global Management, IGT, and Everi appeared before the board, discussing crucial aspects of the merger and the future leadership of the new entity.
Key Points
- The merger could close by the end of June, significantly impacting the gaming industry landscape.
- IGT’s gaming business will merge with Everi’s technologies, while IGT’s lottery segment will spinoff into a separate public entity.
- Apollo aims to improve operational margins and cross-selling opportunities between the two companies.
- The merger is still subject to several regulatory approvals, with a final decision from the Nevada Gaming Commission expected soon.
- This deal is particularly noteworthy as it involves two companies merging under the acquisition of a third party.
Why should I read this?
If you’re interested in the gaming industry, don’t miss out on this significant merger that could alter the competitive landscape. With potential for increased innovation and market share, this is one deal that could set the tone for the future of gaming technology!