Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given the green light to the significant IGT and Everi merger. This deal represents a $6.3 billion investment by Apollo Global Management, positioning the new entity to reshape the gaming supplier landscape. The merger is expected to be completed by the end of the month, with IGT’s lottery business being spun off into a publicly traded company.
Key Points
- Initial approval for the IGT-Everi merger marks a significant move in the gaming industry.
- Apollo Global Management is acquiring both companies for $6.3 billion.
- The new entity will keep the IGT name while the lottery business will operate independently.
- The merger aims to enhance IGT’s product offerings and market position.
- Regulatory compliance will be closely monitored as they seek additional approvals in various jurisdictions.
Why should I read this?
If you’re in or following the gaming industry, this is a biggie! The IGT-Everi merger could reshape how gaming suppliers operate, and the implications for the market are huge. Staying ahead of these changes is crucial if you want to keep your finger on the pulse of the industry.