Apollo completes US$6.3 billion acquisition of IGT Gaming and Everi
Global asset management group Apollo has completed its US$6.3 billion all-cash acquisition of IGT’s gaming and digital business and Everi Holdings Inc.
The two companies will now merge under the IGT name in a privately held company headquartered in Las Vegas.
The merged company will have three divisions: gaming, digital, and fintech. While the IGT brand will be widely used, the Everi name will continue in specific markets and product categories. The integration process is anticipated to be finalized in the upcoming months.
IGT Lottery was recently rebranded as Brightstar Lottery and will trade on the New York Stock Exchange under the ticker symbol BRSL.
Nick Khin, Interim Chief Executive Officer of IGT, will oversee the company until Hector Fernandez takes on the position in the fourth quarter of 2025, after a non-compete period ends. Afterwards, Khin is anticipated to manage IGT’s gaming division.
“This is a defining moment for our industry. By uniting two leading organizations, we are building an enterprise with the scale, talent, and technology to lead the future of gaming,” Khin said.
Everi’s common stock has been delisted from the New York Stock Exchange with immediate effect. Everi stockholders will receive US$14.25 per share in cash, while legacy IGT Lottery (Brightstar) will receive approximately US$4.05 billion in gross cash proceeds from the transaction.
Dig deeper
2025/04/01: Australian online sports betting market consolidates as Betr parent completes acquisition of TopSport
2025/06/17: IGT’s global lottery organization rebrands as Brightstar
2025/01/17: IGT retains AAA MSCI ESG rating for two years in a row
2025/05/28: Online gambling market projected to be worth US$153 billion by 2030
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