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 between IGT and Everi. This marks a significant milestone in one of the largest corporate mergers in the gaming supply sector. The transaction is being overseen by Apollo Global Management and aims to reshape the gaming supplier landscape.
Key Points
- The merger includes IGT’s gaming and lottery operations along with Everi’s financial technology business.
- Nick Khin has been presented as interim CEO of the new entity until Hector Fernandez takes over.
- The merger is expected to close by the end of June, pending final approval from the Nevada Gaming Commission.
- Combined, IGT and Everi will enhance their market position and close the gap with competitors.
- Fitch Ratings has maintained a positive outlook for the merged entity, predicting strong performance.
Why should I read this?
If you’re involved in the gaming industry or just curious about the market, this merger could change the landscape significantly. Grabbing the details of this colossal deal could save you time and keep you ahead of industry trends!