Apollo Completes $6.3bn Acquisition of IGT and Everi
Deal News | Jul 02, 2025 | EIN
Apollo, a private equity firm, has finalized its $6.3 billion acquisition of IGT's Gaming & Digital business and Everi Holdings. The two businesses will be combined under the IGT brand but will retain the Everi name in certain markets. The new company will have units focusing on Gaming, Digital, and FinTech sectors. Hector Fernandez is set to become IGT's CEO by Q4 2025, with Nick Khin serving as interim CEO. The deal was first proposed last year during IGT’s plans to merge its Global Gaming and PlayDigital divisions with Everi. Apollo plans to integrate the businesses to create a competitive, well-capitalized platform poised for long-term growth. Everi stockholders receive $14.25 per share, and International Game Technology PLC will receive $4.05 billion in gross cash proceeds.
Sectors
- Gaming Technology
- Private Equity
- Financial Services
Geography
- United States – The new combined company is based in Las Vegas, indicating significant operational and market presence in the U.S.
Industry
- Gaming Technology – The integration of IGT's gaming business and Everi's casino technology and payment solutions directly pertains to this sector.
- Private Equity – Apollo, a private equity firm, facilitated and completed the acquisition and subsequent merger, demonstrating strategic investment activity.
- Financial Services – The new entity combines financial solutions within the gaming sector, including integrated financial solutions and casino management.
Financials
- $6.3 billion – The total value of the acquisition deal completed by Apollo.
- $14.25 – Cash per share that Everi stockholders are receiving following delisting.
- $4.05 billion – Gross cash proceeds received by International Game Technology PLC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo | Acquirer | Company | Private equity firm that acquired IGT's Gaming & Digital business and Everi Holdings. |
| IGT | Target Company | Company | International Game Technology's Gaming & Digital business involved in the transaction. |
| Everi Holdings | Target Company | Company | Casino technology and payments solutions provider acquired and to be merged with IGT's businesses. |
| Hector Fernandez | Incoming CEO of IGT | Person | Former chief executive of Aristocrat Gaming, set to become CEO of IGT in Q4 2025. |
| Nick Khin | Interim CEO of IGT | Person | Will lead IGT until Hector Fernandez takes over. Later transition to CEO of IGT’s Gaming business unit. |
| Daniel Cohen | Partner at Apollo | Person | Quoted as expressing confidence in IGT’s future following the acquisition. |