IGT and Everi to be Acquired by Apollo Global Management in $6.3B Deal

International Game Technology PLC and Everi Holdings Inc. have announced their entry into definitive agreements with funds managed by affiliates of Apollo Global Management, Inc. for the acquisition of IGT's Gaming & Digital business and Everi in an all-cash transaction valued at approximately $6.3 billion.

Under the terms of the new agreements, Everi stockholders will receive $14.25 per share in cash, representing a 56% premium over Everi's closing share price on July 25, 2024. IGT will receive $4.05 billion of gross cash proceeds for IGT Gaming. The transaction is expected to be completed by the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

The leadership, governance, and structure of the newly formed combined enterprise upon closing of the transaction have also been outlined. Following the acquisitions, the shares of common stock of Everi will be delisted from the New York Stock Exchange.