Apollo Global Management has successfully completed the previously announced acquisitions of International Game Technology’s (IGT) Gaming & Digital business and Everi Holdings Inc. in an all-cash transaction valued at $6.3 billion (€5.4 billion), according to the official press release from Apollo. The combined enterprise, which will operate under the IGT brand while retaining the Everi brand in select markets, will be headquartered in Las Vegas, Nevada.

Details of the Acquisition and Integration

According to the official press release, the acquisition unites two complementary businesses and sets the stage for the formation of a global leader in gaming, digital, and financial technology solutions. As part of the deal, Everi shareholders are receiving $14.25 per share in cash, and IGT is receiving $4.05 billion in gross cash proceeds. Following the closure of the transaction, Everi’s common stock was delisted from the New York Stock Exchange.

The new IGT will be structured into three key business units: Gaming, Digital, and FinTech. This reorganization is designed to enhance the company’s customer-first approach and provide integrated, innovative solutions across both land-based and digital gaming sectors.

Leadership and Future Plans

Nick Khin, Interim CEO of IGT, commented on the acquisition, “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.”

Hector Fernandez, who previously served as CEO of Everi, is expected to take over as CEO of IGT in the fourth quarter of 2025, following the expiration of a non-compete agreement. Until then, Khin will continue as Interim CEO and will transition into the CEO role for the Gaming division upon Fernandez’s arrival.

Daniel Cohen, Partner at Apollo, emphasized the strategic benefits of the acquisition, stating, “Bringing together highly complementary businesses creates a more competitive, agile, and well-capitalized platform built for long-term growth.”

Capital Allocation and Brightstar’s Future

As part of the deal, the company’s former IGT lottery business has been rebranded to Brightstar, now a separate entity focused on lottery services and technology. Brightstar has received $4.05 billion in gross cash proceeds, which will be used to reduce debt, return capital to shareholders, and support other strategic initiatives.

Brightstar plans to allocate approximately $2 billion towards debt reduction, while $1.1 billion will be returned to shareholders. An additional $500 million will be used for payments related to its Italian lottery license, with the remaining $400 million earmarked for general corporate purposes.

The merged entity will benefit from Apollo’s financial backing and the combined technological assets of both companies. The acquisition will create a more competitive platform, enhancing IGT’s ability to deliver exceptional content and integrated financial solutions to customers worldwide. This transaction is expected to position IGT as a premier player in the global gaming ecosystem, delivering scalable solutions across markets in Europe, North America, and beyond.