IGT and Everi Acquisition Finalized by Apollo
In a landmark move, private equity firm Apollo has completed a $6.3 billion acquisition of IGT's Gaming & Digital business and Everi Holdings, creating a **privately held global leader in gaming, digital, and financial technology solutions**. This merger is set to significantly impact the online casino industry worldwide.
The merger of IGT, renowned for its popular slot titles such as Wheel of Fortune and Cleopatra, and Everi, a pioneer in casino technology and FinTech payment solutions, has resulted in a combined entity operating under the IGT name, headquartered in Las Vegas. The new company integrates IGT’s gaming expertise and Everi’s innovative technology, organised into three units: Gaming, Digital, and FinTech.
The merger offers several key benefits. Firstly, it creates a gaming powerhouse with a broader, more attractive content library, combining IGT's popular titles with Everi’s traditional and digital slot games. This richer variety of games and solutions can drive player engagement and retention in online casinos.
Secondly, the merged company is poised to lead the future of both land-based and online gaming. Its integrated financial services and casino management tools are designed to enhance the player journey and improve operational efficiency for casino operators, including online platforms.
Thirdly, the move into private ownership under Apollo allows for more agile decision-making and investment strategies, potentially accelerating innovation and market responsiveness in the highly competitive online casino landscape.
Hector Fernandez, former CEO of Everi, will become the CEO of IGT in Q4 2025, bringing deep sector expertise that can elevate the company’s competitive position in the global market. Interim CEO Nick Khin, previously IGT’s COO, will lead the company temporarily and later become CEO of the Gaming division this year.
The Nevada Gaming Control Board (NGCB) has approved the merger, and Everi's stock has been officially delisted from the New York Stock Exchange. IGT has also rebranded its global lottery division as Brightstar Lottery, 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. The merged company aims to provide online casinos worldwide with a deeper, more integrated gaming and financial technology offering, which is expected to enhance player experiences, operator efficiency, and overall competitiveness in the best online casinos globally.
Apollo's partner Daniel Cohen stated that the merger creates a stronger, more agile platform for long-term success in global gaming markets. Cohen added that IGT is ready to deliver unique content and technology that elevate the real money online casino experience. IGT Interim CEO Nick Khin has noted that the merger is a defining moment for the iGaming industry.
[1] Apollo Global Management [2] Everi Holdings [3] International Game Technology [4] Online Casinos
- The merged entity, consisting of IGT and Everi under the IGT name, has integrated technology from both companies to form a privately held global leader in gaming, digital, and financial technology solutions, significantly impacting the online casino industry.
- The merger of IGT's gaming expertise and Everi's technology offers online casinos a richer array of games and solutions, aiming to drive player engagement and retention while leading the future of both land-based and online gaming.
