Apollo Completes $6.3B Acquisition of IGT and Everi
Apollo completed its $6.3 billion cash acquisition of IGT’s Gaming & Digital Business and Everi Holdings. Consequently, this deal forms a private global leader in gaming and fintech.
Merging for Market Dominance
The deal combines IGT’s slot machines and lottery systems with Everi’s payment solutions. As a result, the Las Vegas-based enterprise, operating as IGT, keeps the Everi brand for select products.
Meanwhile, integration into Gaming, Digital, and FinTech units will occur over months. Specifically, this setup targets a $187 billion gaming market by 2029. Moreover, IGT’s customer-first approach will drive innovation across 40+ jurisdictions.
Nick Khin, IGT’s Interim CEO, leads until Hector Fernandez becomes CEO in Q4 2025. Afterward, Khin will head the Gaming unit.
“We’re building a leader with scale and talent,” said Apollo’s Daniel Cohen. Therefore, the team aims to enhance player experiences globally.
Financial Details
Apollo paid Everi stockholders $14.25 per share and IGT $4.05 billion in cash. Consequently, Everi’s stock was delisted from the NYSE on July 2, 2025. Furthermore, the deal, backed by Apollo funds, supports IGT’s growth in iGaming, with a projected 14% annual rise.
The acquisition, advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, closed after regulatory approvals. Thus, IGT expects to leverage combined tech for new markets. Additionally, cross-selling and fintech integration will boost competitiveness. “This is a transformative moment,” said IGT’s Nick Khin.
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