IGT-Everi officially acquired by Apollo Funds

The $6.3bn deal has passed, with the companies to be merged over the coming months.

Almost one year on from its initial announcement, the $6.3bn acquisition of IGT’s gaming and digital business – alongside Everi – has officially been closed by Apollo Funds.  

Indeed, the move has seen IGT’s lottery division break off into a separate entity named Brightstar Lottery, with the gaming and digital divisions to be merged with Everi, continuing as a new entity under the IGT brand, owned and operated by Apollo. Set to take over the running of the new business is former Aristocrat CEO Hector Fernandez, who was announced in Q4 2024.  

Speaking on this development, IGT’s Interim CEO, Nick Kihn, said, “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. 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 honored to be part of this exciting chapter and to help shape the future of IGT.” 

Building on this, Apollo Partner, Daniel Cohen, said, “Bringing together highly complementary businesses creates a more competitive, agile and well-capitalized platform built for long-term growth. 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.” 

Good to know: The merger will see IGT’s headquarters return to Las Vegas after 10 years of being based in Italy 

This latest announcement closely follows the confirmation last week that IGT, Everi and Apollo had received the final authorizations by the Nevada Gaming Control Board to proceed with the closure of the deal.  

Will Underwood

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