Apollo announced that funds managed by its affiliates have completed the previously disclosed all-cash acquisitions of International Game Technology PLC’s Gaming & Digital Business (“Brightstar Lottery”) and Everi Holdings Inc., in a transaction valued at approximately $6.3 billion. The combined entity will operate under the IGT brand and be headquartered in Las Vegas.
The new IGT will be structured into three core units:
- Gaming: land-based casino systems and services.
- Digital: online gaming and lottery platforms.
- FinTech: integrated financial technology solutions for gaming operators.
Nick Khin, Interim CEO of IGT, said:
“Uniting two leading organizations allows us to build a platform with the scale, talent and technology to lead the future of gaming. With Apollo’s support, we are positioned to deliver exceptional content and integrated financial solutions that enhance the player journey and drive value for our customers.”
Héctor Fernández is expected to become CEO in Q4 2025 after the expiration of his customary non-compete period. Until then, Mr. Khin will lead the combined entity and transition to CEO of the Gaming unit upon Mr. Fernández’s arrival.
Daniel Cohen, Partner at Apollo, added:
“Bringing together complementary businesses creates a more competitive, agile and well-capitalized platform for long-term growth. We look forward to working with Hector, Nick and the IGT team to advance the industry.”
Effective today, Everi common stock has been delisted from the New York Stock Exchange. Everi shareholders are receiving $14.25 per share in cash, and International Game Technology PLC is receiving $4.05 billion of gross cash proceeds. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds.
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