– Apollo has completed its previously announced acquisitions of:
▪️International Game Technology PLC’s Gaming & Digital Business (doing business as “Brightstar Lottery”)
▪️Everi Holdings Inc. (“Everi”) via a holding company owned by funds managed by Apollo affiliates (the “Apollo Funds”)
– The all-cash transaction, valued at approximately $6.3 billion, brings together complementary businesses to create a privately held global leader in gaming, digital, and financial technology solutions.
– The companies will be integrated in the coming months under the IGT name, while Everi will continue as a brand in select markets and product lines.
– The combined enterprise, headquartered in Las Vegas, will be organized into three business units:
▪️Gaming
▪️Digital
▪️FinTech
– The unified company will emphasize a “customer-first enterprise supported by a people-first culture that values talent, collaboration and innovation.”
– Nick Khin, Interim CEO of IGT, stated: “This is a defining moment for our industry. By uniting two leading organizations, we are building an enterprise with the scale, talent and technology to lead the future of gaming. With Apollo’s support, we are very well-positioned to deliver exceptional content across land-based and digital experiences, along with integrated financial solutions and casino management that enhance the player journey and drive value for our customers. I’m honored to be part of this exciting chapter and to help shape the future of IGT.”
– Hector Fernandez is expected to become CEO of IGT in Q4 2025, following the expiration of a customary non-compete period. Until then, Nick Khin will lead the company and later transition to CEO of the Gaming business unit.
– Daniel Cohen, Partner at Apollo, said: “Bringing together highly complementary businesses creates a more competitive, agile and well-capitalized platform built for long-term growth. We are confident that IGT is well positioned to deliver differentiated content and capabilities that better serve customers across the globe. We look forward to working closely with Hector, Nick and the rest of the talented IGT team to lead the industry forward.”
– As of today, Everi common stock has been delisted from the New York Stock Exchange.
– Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds.
