IGT set to return to Vegas after Everi merger approved by Nevada Gaming Commission
The plans to take IGT and Everi private and integrate the companies under one business are one step closer to completion.
Key points:
– The Nevada Gaming Commission has approved the deal for Apollo to acquire and merge IGT and Everi
– This means that IGT will be able to return to Nevada after leaving in 2015
– The New York State Gaming Commission has yet to agree to the deal
The Apollo Global Management acquisition merger of IGT and Everi has been approved by the Nevada Gaming Commission, according to local media.
The $6.3bn deal, which was first announced in 2024, would see Apollo take IGT and Everi private in an all-cash deal.
However, this needed to be approved by several lawmakers and regulators.
On Tuesday, the Nevada Gaming Commission voted 4-0 to approve Apollo’s licence, with the New York State Gaming Commission set to make its decision next Tuesday.
Apollo is also the parent company of The Venetian and Palazzo resorts on the Las Vegas Strip.
In 2024, IGT confirmed it was splitting its business in half; between its gaming and digital verticals and then its global lottery operations.
Apollo plans to acquire and integrate both IGT’s gaming and digital businesses and Everi under the Voyager name, but for the foreseeable future, the operations will continue under the IGT brand.
As for the existing IGT operator, this business will rebrand to Brightstar Lottery.
Good to know: IGT currently has around 2,000 employees in Nevada
Nick Khin, the IGT President of Global Gaming, is set to become the interim CEO of the new IGT project.
He will hold this position until Hector Fernandez, former Aristocrat CEO, can clear his non-compete agreement during Q4 and can take the position.
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