Everi Shareholders Approve Apollo Funds Acquisition
Everi Holdings Inc. shareholders have approved the company’s acquisition by Apollo Funds. At the special shareholder meeting 99.88% of the shares voted in favor of the deal, representing 71.48% of the total outstanding shares as of October 3, 2024.

Apollo Funds Acquisition Details
Everi shareholders will receive $14.25 per share in cash at closing. After the deal is done, shareholders will no longer own Everi stock or have claims to future earnings or growth.
The deal will be done through a new holding company owned by funds managed by affiliates of Apollo Global Management, Inc. The deal also includes the acquisition of IGT’s Gaming & Digital division, both companies will be under the same roof.
Deal is expected to close by end of Q3 2025, subject to timely regulatory approvals, gaming licenses and other closing conditions.
The near 100% approval shows the shareholders are very comfortable with the deal. Official voting results will be filed in a Form 8-K with the U.S. Securities and Exchange Commission (SEC).
Everi’s Board of Directors, led by Chairman Michael Rumbolz, are pleased with the outcome and will now focus on getting the rest of the deal done.
Risks and Challenges
While the shareholders approved the deal overwhelmingly, there are still risks:
- Regulatory and Gaming License Approvals: Delays or denials of approvals could kill the timeline.
- Retention of Key Talent: Keeping and hiring key people post merger may be tough.
- Disruption and Operational Risks: The announcement and integration of the deal could impact employee, customer and partner relationships and operations.
- Market Volatility: Announcement or not closing the deal could hurt Everi’s stock price.
- Breakup Fees: In certain circumstances Everi may be required to pay termination fees if the merger agreement is terminated.
- Cybersecurity and Litigation: The gaming industry’s increased regulatory scrutiny and cybersecurity risks will be a challenge during and after the merger.
After the merger, Apollo Funds will focus on using its resources to improve operations, expand product and strengthen its position in gaming and digital.
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