Nevada board gives initial approval to IGT-Everi megadeal
Summary
The Nevada Gaming Control Board has given an initial nod to the merger between IGT and Everi, a deal valued at approximately $6.3 billion. During a recent meeting, representatives discussed the implications of the merger, with a significant focus on corporate structure and compliance regulations. If all goes well, a final ruling from the Nevada Gaming Commission is expected on 26 June.
Key Points
- The Nevada Gaming Control Board has approved the IGT-Everi merger amidst discussions of compliance and ownership protocols.
- Apollo Global Management is spearheading the acquisition, planning to merge IGT’s gaming operations with Everi’s technology services.
- Current IGT President Nick Khin will serve as interim CEO once the merger finalises.
- The deal aims to enhance product offerings and consolidate operations in the gaming sector.
- Fitch Ratings has maintained a positive outlook on the combined company, highlighting potential cross-selling opportunities.
Why should I read this?
This article sheds light on a monumental shift in the gaming industry with the IGT-Everi merger. If you’re invested in or keep tabs on the gaming sector, this initial approval marks a pivotal step that could reshape industry dynamics—don’t miss out on the full details!