International Game Technology (IGT) and Everi have recently announced a $6.3 billion merger with private equity firm Apollo Global Management. This deal will combine two major players in the gaming industry, creating a powerhouse with a diverse portfolio of products and services.
IGT, a leading supplier of gaming technology and products worldwide, will bring its expertise in lottery, gaming machines, and digital gaming to the table. Everi, a seasoned provider of cash management solutions and gaming content, will complement IGT’s offerings with its innovative products and services.
The merger with Apollo Global Management, a well-known private equity firm with a history of successful investments, will provide the necessary financial support and resources for the newly merged company to grow and expand its market presence.
The deal is expected to enhance both companies’ competitive positions in the gaming industry, allowing them to capitalize on the growing demand for gaming and entertainment products worldwide.
In a joint statement, the companies expressed their excitement about the merger and the potential it holds for the future. They highlighted the synergies between their businesses and the benefits that the partnership with Apollo will bring.
The merger is subject to regulatory approvals and other customary closing conditions. Once finalized, the combined company will have a strong presence in key gaming markets around the world and will be well-positioned to drive growth and innovation in the industry.
Overall, the $6.3 billion merger between IGT, Everi, and Apollo Global Management represents a significant development in the gaming industry and is poised to create a major player with a competitive edge in the market.
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