Apollo has finalized the $6.3B takeover of IGT’s gaming and digital operations (plus Everi), setting up a mega-IGT entity in Las Vegas.
This combines gaming, digital, and financial-technology offerings under unified leadership—an acquisition poised to reshape the gaming supply industry.
The new privately owned company will operate under the IGT name, with select products retaining the Everi brand.
It will have three business units: Gaming, Digital, and FinTech. Interim CEO Nick Khin will lead the merged entity until Hector Fernandez (formerly of Aristocrat Gaming) takes over in Q4 2025.
Everi shareholders received $14.25 per share in cash, and its common stock has been delisted from the NYSE.
IGT PLC receives approximately $4.05 billion in gross cash proceeds, which it’ll likely use for debt repayment and shareholder returns
The combined company is based in Las Vegas and employs roughly 2,000 people in Nevada.
With over 70,000 slot machines in North America, the merged entity will surpass current market leader Light & Wonder (~54,000 units).
This acquisition mirrors broader consolidation trends in the gaming-supplier space, and creates a vertically integrated powerhouse spanning land‑based, digital, and FinTech sectors.
Regulatory & Next Steps
The deal has received approval from the Nevada Gaming Control Board and awaits final sign-off from other jurisdictions. Integration activities and business unit alignment are already underway.
Advantage For Apollo:
Apollo now controls the largest installed base of slot machines in North America — over 70,000 machines — overtaking Light & Wonder (which has almost 54,000 machines.
The acquisition creates a dominant player in land-based gaming, boosting pricing power, distribution, and bargaining leverage.
Combines IGT’s expertise in premium slot content and cabinets with Everi’s FinTech and digital wallet capabilities, forming a vertically integrated supplier.
Apollo targets businesses with strong recurring revenue, and IGT’s gaming division fits well due to long-term game placements and system sales.
The combined company benefits from recurring lease and service revenues and can be streamlined for higher EBITDA margins.
Access to Everi’s digital casino and FinTech platform strengthens Apollo’s position in online gaming and cashless gaming technology, key growth areas.
Capitalizes on global trends in digitization of gambling and increasing regulatory approval for online casinos.
Apollo can bring operational discipline and financial engineering expertise to improve performance, reduce costs, and increase ROI.
Global Expansion Opportunities
The combined assets offer a strong base for international expansion, especially in emerging regulated markets across Latin America, Europe, and Asia.