Apollo (NYSE: APO) has completed the acquisitions of International Game Technology PLC’s Gaming & Digital business (also known in parts of the sector as “Brightstar Lottery”) and Everi Holdings Inc. in a transaction valued at approximately $6.3 billion. The acquisitions, conducted through a holding company owned by funds managed by Apollo affiliates, combine complementary assets to create a privately held global iGaming, digital and financial technology business.
The combined enterprise will be headquartered in Las Vegas and operate under the IGT brand, while retaining the Everi name in selected markets and for certain product lines. The new organisation will be structured into three business units: Gaming, Digital and FinTech, aiming to deliver integrated solutions to customers worldwide.
Hector Fernandez is expected to become CEO of the new IGT in the fourth quarter of 2025 after completing a customary non-compete period. In the interim, Vince Sadusky, previously CEO of International Game Technology’s Gaming & Digital business, will continue to lead the enterprise, with Eric Khin transitioning to CEO of IGT’s Gaming division once Fernandez arrives.
As a result of the closing, Everi’s common stock has been delisted from the New York Stock Exchange. Everi shareholders will receive $14.25 per share in cash, while International Game Technology PLC will receive gross cash proceeds of approximately $4.05 billion.
Apollo stated that the integration process for the two businesses will begin immediately, bringing together gaming systems, content, digital offerings and FinTech capabilities under a unified structure designed to advance growth across regulated markets.
The combined company intends to position itself as a comprehensive provider of iGaming and land-based gaming solutions, enhanced by financial technology products for operators. The legal aspects of the transaction were handled by Paul, Weiss, Rifkind, Wharton & Garrison LLP on behalf of the Apollo Funds.
“This is a defining moment for our industry,” said Nick Khin, Interim CEO of IGT. “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.”
“Bringing together highly complementary businesses creates a more competitive, agile and well-capitalized 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.”
