Nevada Board Gives Initial Approval to IGT-Everi Megadeal
Summary
The Nevada Gaming Control Board has given initial approval for one of the largest mergers in the gaming supplier sector, involving International Game Technology (IGT) and Everi Holdings. This merger, valued at $6.3 billion and initiated by Apollo Global Management, is expected to reshape the landscape of gaming suppliers, with a vote on final approval scheduled for June 26.
Key Points
- The merger could close by the end of June, pending final approval from state regulators.
- IGT’s gaming business will merge with Everi’s gaming and financial technologies, while IGT will remain as the brand name.
- This deal has the potential for significant cross-selling opportunities due to the expanded product lineup.
- The combined slot machine base will be substantial, exceeding that of major competitors Aristocrat and Light & Wonder.
- The merger is seen as a strategic move to enhance value creation for shareholders.
Why should I read this?
This article outlines a potentially game-changing merger in the gaming industry. If you’re interested in the future of gaming suppliers or how such large scale mergers can impact market dynamics, this is a must-read. It could mean big changes ahead for both companies and the wider sector!