Nevada regulator confirms final approval of Apollo’s IGT-Everi acquisition
The $6.3bn transaction will officially close on the July 1 next week.
Key Points
- Apollo Global has confirmed final NGBC approval of its IGT-Everi acquisition
- The $6.3bn deal is set to close next week on July 1
- This action will see IGT return its headquarters to Las Vegas
The Nevada Gaming Control Board (NGCB) has given the final go-ahead to Apollo Global Management for its $6.3bn acquisition of the soon-to-be-merged IGT-Everi entity.
Indeed, this latest action comes following the NGCB’s unanimous approval of the merger earlier this month and will likely see the new IGT merged entity relocate its headquarters back to Las Vegas. Meanwhile, Apollo – which owns and operates the Venetian and Palazzo resorts – has confirmed that, following this latest approval, the deal is set to close next Tuesday, July 1.
Initially announced in February 2024, this move will see IGT shift its gaming and digital entities away from its lottery business in order to merge with Vegas-based gaming equipment organisation, Everi. As such, it was announced earlier this month that IGT’s lottery business is set to begin trading as Brightstar lottery following its split from the wider organization.
Moreover, this acquisition will see IGT return to Las Vegas after 10 years, with the supplier moving away from the city following its previous merger with Gtech Holdings that saw the company move its headquarters to Italy in 2015.
Good to know: Last month, IGT was also announced as one of the first regulated suppliers to obtain licensure to enter the UAE market
In December, it was announced that former Aristocrat CEO Hector Fernandez would be taking over the newly merged business as CEO from the fourth quarter of 2025.
Elsewhere, related company news this week saw IGT sign a new eight-year partnership agreement with Atlantic Lottery.
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