Everi stockholders approve Apollo acquisition
Deal News | Nov 15, 2024 | EIN
Everi Holdings, a gaming solutions provider, has secured approval from its stockholders for the acquisition by Apollo Global Management's affiliates. The approval includes the acquisition of International Game Technology's (IGT) Gaming and Digital business, which will be combined with Everi. A special meeting saw approximately 99.88% of shares voting in favor, representing 71.48% of the total shares as of early October. Everi's stockholders are set to receive $14.25 per share in cash in a transaction valued at approximately $6.3 billion. The deal is expected to close by the end of the third quarter of 2025, pending customary conditions. Post-transaction, IGT will focus on its lottery business after separating its Gaming and Digital divisions.
Sectors
- Gaming & Entertainment
- Private Equity
Geography
- United States – The transaction takes place primarily in the United States, involving companies like Everi Holdings and regulatory filing with the US SEC.
Industry
- Gaming & Entertainment – The acquisition involves Everi Holdings, a gaming solutions provider, and IGT's Gaming and Digital divisions, highlighting the transaction's relevance to the Gaming & Entertainment sector.
- Private Equity – Apollo Global Management, a leading private equity firm, is central to the acquisition, illustrating the deal's connection to the Private Equity industry.
Financials
- 6.3 billion – Total value of the acquisition deal for Everi by Apollo.
- 14.25 – Cash offered for each share of Everi Holdings in the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everi Holdings | Target company | Company | Gaming solutions provider being acquired by Apollo Global Management. |
| Apollo Global Management | Bidding company | Company | Private equity firm acquiring Everi Holdings and IGT's Gaming & Digital business. |
| International Game Technology (IGT) | Selling company | Company | Selling its Gaming and Digital business as part of the deal with Apollo. |
| US Securities and Exchange Commission (SEC) | Regulatory authority | Government | Government agency with which Everi Holdings will file the voting results. |
| Michael Rumbolz | Chairman of Everi's Board of Directors | Person | Involved in communicating the board's approval and next steps for the transaction. |