Everi Stockholders Approve Acquisition by Apollo
Deal News | Nov 14, 2024 | EIN
Everi Holdings Inc., a key player in the casino gaming space, has received stockholder approval for its acquisition by Apollo Global Management's funds. This deal, which was given the nod at a special stockholders meeting, involves a merger where Everi stockholders will be paid $14.25 per share. Approximately 99.88% of shares voted favored the transaction, marking a significant milestone in its expected closure by late 2025. The acquisition also includes International Game Technology's Gaming & Digital business and is set to progress following necessary regulatory approvals. Everi, known for its diverse gaming and financial technology solutions, remains focused on maximizing shareholder value while navigating the merger's regulations and market complexities. This event underscores potential shifts within the gaming industry amid a backdrop of economic, regulatory, and competitive challenges.
Sectors
- Gaming
- Financial Technology
- Private Equity
Geography
- United States – Everi Holdings and Apollo Global Management are based in the U.S., and the transaction's regulatory processes will likely involve U.S. jurisdictions.
Industry
- Gaming – The gaming industry is relevant as Everi Holdings, a major player, develops gaming content and products.
- Financial Technology – Everi provides financial technology solutions crucial for casino operations, aligning it with this sector.
- Private Equity – Apollo Global Management, a private equity firm, is involved in acquiring Everi Holdings.
Financials
- 14.25 – Cash per share of Everi common stock to be received by stockholders.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everi Holdings Inc. | Target Company | Company | A premier provider of casino gaming content, financial technology, and player loyalty solutions. |
| Apollo Global Management, Inc. | Bidding Company | Company | A global alternative investment manager acquiring Everi through its funds. |
| International Game Technology PLC | Other Company | Company | Its Gaming & Digital business is also being acquired alongside Everi. |
| Michael Rumbolz | Chairman of the Board | Person | Chairman of Everi's Board of Directors. |