IGT Completes Landmark Acquisition
Deal News | Jul 01, 2025 | Apollo
Apollo Global Management has completed the acquisition of International Game Technology (IGT) and Everi Holdings' gaming and digital businesses. The transaction is valued at approximately $6.3 billion. The combined company will operate under the IGT name and will focus on gaming, digital solutions, and fintech. Headquartered in Las Vegas, the new entity will leverage its expanded scale and resources to deliver innovative gaming solutions globally. Nick Khin currently leads IGT as interim CEO, with Hector Fernandez expected to take over in late 2025. Daniel Cohen of Apollo expressed confidence in the potential for growth and innovation from the merger. The transaction includes an all-cash payout to Everi stockholders and substantial cash proceeds to International Game Technology PLC. Apollo continues to be a leading alternative asset manager, further extending its reach in the gaming sector through strategic acquisitions.
Sectors
- Gaming
- Digital Technology
- Financial Technology
Geography
- United States – The acquisition involves companies headquartered in the U.S., and the newly formed entity will be based in Las Vegas.
Industry
- Gaming – The article discusses the merger of two gaming companies, IGT and Everi, creating a leader in gaming solutions.
- Digital Technology – Both companies involved, IGT and Everi, are leading providers of digital and gaming technology solutions.
- Financial Technology – The merger includes significant aspects of financial technology, particularly in the gaming sector, with solutions for cash access and casino management.
Financials
- 6.3 Billion USD – The total value of the acquisition deal by Apollo for the IGT and Everi gaming businesses.
- 14.25 USD per share – The cash payout received by Everi stockholders as part of the acquisition.
- 4.05 Billion USD – The gross cash proceeds received by International Game Technology PLC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Apollo Global Management | Bidding Company | Company | A global alternative asset manager that has acquired IGT and Everi gaming businesses. |
| International Game Technology PLC | Target Company | Company | A leading provider of gaming and digital solutions, acquired by Apollo. |
| Everi Holdings Inc. | Target Company | Company | A company involved in gaming solutions, whose assets are now part of the new IGT entity. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Legal Advisor | Company | Served as legal counsel to the Apollo Funds for the acquisition. |