Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given an initial nod to one of the largest corporate mergers in the gaming sector’s history, involving International Game Technology (IGT) and Everi Holdings. This merger, valued at $6.3 billion, may reshape the gaming supplier landscape dramatically.
Key Points
- IGT and Everi are merging under Apollo Global Management, potentially influencing the gaming industry significantly.
- Nick Khin has been appointed as interim CEO of the new entity, with Hector Fernandez set to take over later.
- The merger seeks to consolidate IGT’s gaming and Everi’s financial technology businesses while spinning off IGT’s lottery business.
- The Nevada Gaming Commission will vote on the final ruling concerning the merger on 26 June.
- The combined entity expects to have a slot machine base surpassing 70,000 units, providing ample cross-selling opportunities.
Why should I read this?
If you’re interested in the gaming industry and want to stay ahead of the curve, this article is a must-read! The merger between IGT and Everi could redefine gaming suppliers, affecting everything from product offerings to compliance standards. Plus, it’s always good to know where the big industry shifts are happening!