Apollo Seals the Deal with IGT and Everi Acquisition

Apollo has finalized its $6.3 billion acquisition of IGT's Gaming & Digital business and Everi Holdings. The merger, first announced in July 2024, received approval from Everi stockholders last November. The most recent update before the acquisition was the merger being green-lit by the Nevada's Gaming Control Board (NGCB).

To proceed with the deal, IGT split its lottery and non-lottery divisions. Its lottery arm rebranded as Brightstar Lottery. Meanwhile, IGT's non-lottery business merged with Everi, forming a new IGT brand focused on gaming and payments technology.

Following the merger, Apollo plans to integrate both firms into a single enterprise in the coming months. This move combines IGT's gaming strength with Everi's payments and casino tech, benefitting the best online casinos worldwide.

IGT Interim CEO Nick Khin noted that the merger is a defining moment for the iGaming industry. He said merging two top firms creates a company with the scale, talent, and tech to lead gaming's future.

Apollo Begins Organizational Changes

Khin, previously IGT's COO, will lead the company temporarily and later become CEO of the Gaming division this year.

Hector Fernandez, Everi's former CEO, will take over as IGT's CEO in Q4 2025 after his non-compete agreement ends. Fernandez brings valuable experience in digital growth and financial system integration to guide IGT's real money online casino operations.

IGT also rebranded its global lottery division as Brightstar Lottery, now operating separately from the new IGT structure. This restructuring strengthens IGT's focus on gaming, payments, and real money online casino innovation across global markets.

Apollo partner Daniel Cohen said the merger builds a stronger, more agile platform designed for long-term success in global gaming markets. He added that IGT is ready to deliver unique content and technology that elevate the real money online casino experience.

Additionally, as part of the agreement, Everi shareholders receive $14.25 per share in cash from the acquisition. Following the deal, Everi's stock has been officially delisted from the New York Stock Exchange.