Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the significant merger between International Game Technology (IGT) and Everi Holdings, a deal worth $6.3 billion. This merger has the potential to change the landscape of the gaming supplier sector, and it’s anticipated to close by the end of June 2025.
Key Points
- The merger is led by Apollo Global Management and aims to merge IGT’s gaming and lottery businesses with Everi’s technology solutions.
- Nick Khin of IGT was approved as interim CEO of the new merged entity.
- The approval from the Nevada board came after extensive discussions regarding regulatory compliance and corporate structures.
- The IGT lottery business will be spun off into a separate, publicly traded company.
- The deal is part of Apollo’s strategy to strengthen its gaming portfolio and position itself as a leading operator-supplier.
- Final approval from the Nevada Gaming Commission is expected on 26 June 2025.
Why should I read this?
If you’re interested in the gaming industry’s direction, this merger is a big deal! The IGT-Everi alliance could totally reshape the supplier landscape, giving you a front-row seat to the biggest changes coming in gaming technology and operations. Don’t miss out on understanding how this affects the future!