Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given initial approval for the proposed $6.3 billion merger between International Game Technology (IGT) and Everi Holdings. This significant corporate merger could reshape the gaming supplier landscape and is expected to be finalised by the end of June.
Key Points
- The merger aims to combine IGT’s gaming business with Everi’s gaming and financial technology.
- The new entity will operate privately under the IGT brand, with a separate publicly traded company for IGT’s lottery business.
- Apollo Global Management was chosen for the acquisition, aiming for enhanced long-term value creation.
- The deal somehow emerges from a previously agreed merger between IGT and Everi, showcasing an unusual acquisition process.
- This merger could allow for greater cross-selling opportunities between the two entities, increasing market share significantly.
Why should I read this?
If you’re in the gaming industry or follow corporate mergers, this article is a must-read! It highlights a major deal that could redefine supplier dynamics in gaming, and you wouldn’t want to miss out on the implications for the future of gaming technology!