Everi Holdings Shareholders Approve Apollo Funds Acquisition
Deal News | Nov 16, 2024 | EIN
Everi Holdings, a key player in casino gaming products and financial technology solutions, is set for a major transition with shareholder approval of its acquisition by a holding company formed by Apollo Global Management. This strategic move, supported by 99.88% of voting shares, promises a per-share cash compensation of $14.25 and is slated for completion by late 2025. Apollo's acquisition also includes the Gaming & Digital unit of International Game Technology, setting the stage for a substantial integration aimed at enhancing market leadership in gaming technology. The merger aligns with Everi's goals to boost operational efficiencies and engage customers further, positioning itself for global expansion under Apollo's strategic guidance. Regulatory filings and anticipated changes emphasize a shift towards expanded offerings and innovative gaming solutions.
Sectors
- Gaming Technology
- Private Equity
Geography
- United States – The involved companies, Everi Holdings, Apollo Global Management, and IGT, are based in the US, indicating the geographical relevance.
Industry
- Gaming Technology – The article focuses on Everi Holdings, a provider of gaming products, and International Game Technology's digital business, underscoring their role in gaming tech innovations.
- Private Equity – Apollo Global Management is a key participant in the acquisition, highlighting private equity's significant influence in corporate mergers and acquisitions.
Financials
- $14.25 per share – Cash offer for Everi stockholders as part of the acquisition deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everi Holdings Incorporated | Target Company | Company | A provider of casino gaming products, financial tech solutions, and engagement tools. |
| Apollo Global Management, Inc. | Acquiring Company | Company | A private equity firm forming a holding company to acquire Everi and IGT's Gaming & Digital business. |
| International Game Technology PLC | Selling Company/Vendor | Company | Seller of its Gaming & Digital business to Apollo's holding company. |
| Michael Rumbolz | Chairman of the Board | Person | Chairman of Everi, expressing shareholder gratitude and focusing on transaction completion. |