Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has granted initial approval for one of the industry’s largest mergers with Apollo Global Management’s $6.3 billion acquisition of IGT and Everi. This monumental move could reshape the gaming supplier landscape, featuring a complex regulatory review and discussions on corporate structures and compliance protocols.
Key Points
- The merger involves Apollo acquiring IGT’s gaming business alongside Everi’s financial technology branch.
- IGT’s lottery division will be separated into a standalone publicly traded company.
- Initial approval from the Nevada board is a significant step; the final decision will be made on 26 June.
- The merger is expected to create cross-selling opportunities and enhance product innovation.
- Regulatory approval from additional jurisdictions is still required to complete the deal.
Why should I read this?
If you’re into gaming and mergers, this article is a must-read! The IGT and Everi merger could change the landscape of the gaming industry significantly, and understanding the details could give you insights into future market movements and investment opportunities.