Everi's Strategic Leap: Acquisition of IGT and Sale to Apollo Completes
Deal News | Jul 01, 2025 | Global Leisure Partners LLC
Everi Holdings, Inc. has completed a significant acquisition of IGT Gaming and Digital and subsequently sold both entities to Apollo for a total of $6.3 billion in cash. The deal underscores a transformative shift in the global gaming equipment and technology services industry. Global Leisure Partners LLC (GLP) acted as the exclusive financial advisor to Everi, driving this complex transaction to closure. Everi shareholders benefited from a 56% premium on their shares, while IGT received $4.05 billion in cash proceeds. The move aligns with GLP's track record of navigating high-stake M&A deals in the gaming sector, including previous landmark transactions such as Caesars Entertainment's $30.1 billion buyout. The transaction has been finalized upon securing necessary regulatory endorsements.
Sectors
- Gaming and Entertainment
- Financial Services
Geography
- United States – The transaction involves U.S.-based companies, including Everi Holdings, Inc., and takes place within the U.S. gaming industry landscape.
Industry
- Gaming and Entertainment – The acquisition and sale of IGT Gaming and Digital are directly related to the gaming and entertainment industry, highlighting the focus on technology and services within gaming equipment.
- Financial Services – Global Leisure Partners' advisory role in this large financial transaction places it within the financial services sector, providing strategic financial advice for M&A activities.
Financials
- 6.3 billion – Total cash value for the series of transactions involving the sale of Everi and IGT to Apollo.
- 14.25 – Cash per share received by Everi shareholders, representing a 56% premium.
- 4.05 billion – Gross cash proceeds received by IGT for its Gaming & Digital segment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everi Holdings, Inc. | Target company | Company | Everi Holdings, Inc. is a prominent player in the gaming equipment and technology services industry. |
| IGT Gaming & Digital | Selling Company | Company | IGT Gaming & Digital provides products and services in gaming technology, acting as a key entity in this transaction. |
| Apollo | Bidding Company | Company | Apollo is a leading alternative asset manager involved in acquiring Everi and IGT Gaming & Digital. |
| Global Leisure Partners LLC | Financial Advisor | Company | GLP served as the exclusive financial advisor, orchestrating the complex transaction for Everi. |