Apollo completes $6.3 billion acquisition of IGT Gaming & Digital and Everi

Apollo Global Management announced on Tuesday that it has completed the $6.3 billion all-cash acquisition of International Game Technology's (IGT) Gaming & Digital Business and Everi Holdings Inc., forming a new privately held global gaming enterprise headquartered in Las Vegas.

The newly combined entity will operate under the IGT name, with the Everi brand retained for select products and markets. The company will be structured into three business units — Gaming, Digital, and FinTech — and will employ around 2,000 people in Nevada.

“This is a defining moment for our industry,” said Nick Khin, interim CEO of IGT. “By uniting two leading organizations, we are building an enterprise with the scale, talent, and technology to lead the future of gaming. With Apollo’s support, we are very well-positioned to deliver exceptional content across land-based and digital experiences, along with integrated financial solutions and casino management that enhance the player journey and drive value for our customers.”

Daniel Cohen, Partner at Apollo, said: “Bringing together highly complementary businesses creates a more competitive, agile, and well-capitalized platform built for long-term growth. We are confident that IGT is well-positioned to deliver differentiated content and capabilities that better serve customers across the globe. We look forward to working closely with Hector, Nick, and the rest of the talented IGT team to lead the industry forward.” 

The acquisition, announced earlier this year, required clearance from 36 regulatory agencies, including final approval from the Nevada Gaming Commission last week.

Everi stockholders are receiving $14.25 per share in cash, and IGT PLC is receiving $4.05 billion in gross cash proceeds. Everi’s common stock has been delisted from the New York Stock Exchange as part of the transaction.

The combined IGT entity brings together complementary capabilities in gaming, digital content, and financial technology solutions. Khin, a longtime Nevada gaming executive, will continue to serve as interim CEO until Hector Fernandez, former CEO of Aristocrat Gaming, assumes the role in the fourth quarter of 2025 following the expiration of his non-compete agreement.

The lottery operations previously owned by IGT PLC will now operate independently under the Brightstar Lottery brand, with the IGT name remaining with the newly headquartered Las Vegas company.