Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for a significant corporate merger involving International Game Technology (IGT) and Everi Holdings, which could close by the end of the month. This merger, led by Apollo Global Management, is aimed at reshaping the gaming supplier landscape.
Key Points
- The merger is part of a $6.3 billion acquisition by Apollo, marking one of the largest deals in the gaming industry.
- Nick Khin from IGT discussed his role as interim CEO of the new entity, which will be headquartered in Nevada.
- The combined entity aims to expand cross-selling opportunities, leveraging IGT’s and Everi’s strengths.
- This deal follows Everi’s previously announced merger with IGT, creating a unique situation where a third party is now involved.
- The Nevada Gaming Commission will make a final ruling regarding this merger on 26 June.
Why should I read this?
If you’re interested in the future of gaming technology and corporate movements in the industry, this article is a must-read! The approval of this merger could change the competitive landscape significantly, possibly affecting everything from innovation to market dominance. Plus, it gives insight into the regulatory processes at play in one of the industry’s biggest markets.