Casino game manufacturer Everi Holdings’ shareholders have voted to approve private equity firm Apollo Global Management’s $6.3 billion take-private deal.
Investors in the land-based and online gaming supplier, and shareholders voted in support of the deal, which would see both Everi and IGT’s online division acquired in the multi-billion-dollar deal. As noted in July, the acquisition will see every Everi shareholder receive $14.25 per share, representing a 56 percent premium on the company’s 25 July closing price.
The deal is expected to close in the third quarter of 2025, subject to necessary closing conditions. Chairman of the board Michael Rumbolz said: “We are pleased that our stockholders supported our transaction with the Apollo Funds.
“We now shift our focus to the important next steps toward completing the transaction and maximising value for Everi stockholders.”
In July, International Game Technology PLC (IGT) and Everi announced a definitive agreement for their simultaneous acquisition by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc.
In February this year, IGT and Everi had entered into agreements for IGT to separate its Gaming & Digital business (IGT Gaming) via a taxable spin-off to IGT shareholders, and then immediately combine this business with Everi. Under the new agreements, the Apollo Funds will acquire IGT Gaming and Everi. Following the closing, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise.
How IGT and Everi will integrate with Apollo
Apollo Global Management has plans to integrate IGT and Everi by forming a combined enterprise under its management. The deal involves the acquisition of IGT’s Gaming & Digital business and Everi in an all-cash transaction.
The integration process will see Apollo spin off IGT’s gaming business and merge it with Everi, a casino technology and payments specialist supplier. This strategic move aims to create a stronger player in the global gaming, FinTech, and digital industry.
The transaction, subject to regulatory approvals and approval by Everi stockholders, is expected to be completed by the end of the third quarter of 2025. It’s important to note that IGT shareholders’ approval is not required for the transaction.
This integration is expected to enhance the core segments of IGT Gaming, providing customers with a more comprehensive portfolio of offerings. It also aims to provide significant value to Everi’s stockholders as they move forward with Apollo Funds as their partner.
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