Apollo completes $6.3bn acquisition of IGT businesses and Everi

Private equity firm Apollo has completed its $6.3 billion acquisition of IGT’s Gaming & Digital business and Everi Holdings.
Following the completion of the deals, which were agreed last year, Apollo said the two businesses will be integrated into a combined enterprise in the coming months. The deal brings together IGT’s gaming business and Everi’s casino technology and payments solutions.
The combined company, based in Las Vegas, will operate as IGT but keep the Everi brand in some markets. The new IGT business will include three units: Gaming, Digital and FinTech.

As previously announced, Hector Fernandez, the former chief executive of Aristocrat Gaming, is to become IGT CEO in Q4 2025. This follows the expiration of a customary non-compete period. Until Fernandez’s arrival, interim CEO Nick Khin will lead the organisation. He will later transition into the role of CEO of IGT’s Gaming business unit.
“This is a defining moment for our industry,” said Khin. “By uniting two leading organisations, we are building an enterprise with the scale, talent and technology to lead the future of gaming.
“With Apollo’s support, we are very well-positioned to deliver exceptional content across land-based and digital experiences, along with integrated financial solutions and casino management that enhance the player journey and drive value for our customers. I’m honoured to be part of this exciting chapter and to help shape the future of IGT.”
How the deal progressed
Apollo tabled offers for the two businesses last year when they were already in the process of merging. In February 2024, IGT announced plans to merge its Global Gaming and PlayDigital divisions with Everi.
Following the deal, IGT is now a lottery-only operation and will continue to trade under its new name, Brightstar Lottery.
Effective from now, Everi common stock has been delisted from the New York Stock Exchange. Everi stockholders are receiving $14.25 per share in cash, and International Game Technology PLC is receiving $4.05 billion of gross cash proceeds.
“Bringing together highly complementary businesses creates a more competitive, agile and well-capitalised platform built for long-term growth,” said Daniel Cohen, partner at Apollo.
“We are confident that IGT is well positioned to deliver differentiated content and capabilities that better serve customers across the globe. We look forward to working closely with Hector, Nick and the rest of the talented IGT team to lead the industry forward.”