IGT Joins Forces With Everi In A $6.2 Billion Merger Deal

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Two giants in the gaming machine market, International Game Technology PLC (IGT) and Everi Holdings Inc. have announced their $6.2 billion deal merger.

Continue reading to learn more about this strategic move set to reshape the gambling industry in the U.S.

The Merger Explained

Announced on March 1, 2024, this transformative deal is a fusion of IGT’s Global Gaming and PlayDigital sectors with Everi, creating a new titan in the global gaming and fintech arena.

Partnership

Shareholders are looking at a split with approximately 54% for IGT and 46% for Everi, creating a powerhouse expected to rake in $2.7 billion in revenue by 2024.

Moreover, IGT’s strategic maneuver to merge its slot machine division and digital gaming operations with Las Vegas’s own Everi Holdings marks a significant return to its Nevada origins nearly a decade after its merger with GTECH.

This union is celebrated as a one-stop show across various gambling sectors, as Truist Securities gaming analyst Barry Jonas highlighted.

It promises comprehensive services spanning land-based gaming, iGaming, sports betting, and fintech solutions.

With the deal set to conclude by late 2024 or early 2025, the newly formed entity will proudly bear the iconic IGT name, signaling a new chapter.

Furthermore, leadership for this combined company will be held by Vince Sadusky, IGT’s CEO, with headquarters in the lucky city of Las Vegas.

This decision not only nods to IGT’s historical roots but also positions the company strategically in one of the world’s gambling capitals.

Both companies bring a rich portfolio of products and services designed to captivate gaming patrons and boost customer revenues efficiently.

From engaging slot machines to cutting-edge digital gambling solutions, the combined entity is set to offer an unrivaled gambling experience.

What This Means for Gamblers

This merger shifts to an era of enriched gaming experiences for gamblers.

With a broader range of products and services, gamblers can look forward to more innovative, secure, and engaging gambling options, both online and offline.

Moreover, the merger’s emphasis on a diverse product offering means that there’s likely something exciting on the horizon for you, no matter your preference.

In a world where the legality and safety of gambling are paramount, the new IGT promises to uphold the highest standards.

Also, the merger will reinforce the commitment to responsible, legal, and safe gambling practices.

This move shows the companies’ dedication to providing all Americans with a trustworthy and secure gambling environment.

Furthermore, the IGT and Everi merger is a visionary step forward in the gambling industry, with projections of $2.7 billion in revenues by 2024 and a strong leadership team at the helm.

This merger sets a new benchmark for what gamblers expect: a world of innovative, engaging, and, most importantly, safe and legal gambling options.

Finally, as we wait for the finalization of this deal, it is clear that the gambling scene in the U.S. is on the brink of an exciting transformation.

IGT and Everi’s merger is worth watching, promising a more engaging, secure, and comprehensive gambling experience for everyone.

 

The deal is a merger between International Game Technology PLC (IGT) and Everi Holdings Inc., creating a new powerhouse in the global gaming and fintech arena.

Vince Sadusky, CEO of IGT, will lead the combined company, headquartered in Las Vegas.

Natasha Lyndon announced the merger on March 1, 2024.

The merger promises a broader range of innovative, secure, and engaging gambling options for gamblers, both online and offline.

IGT shareholders will own approximately 54%, and Everi shareholders about 46%.

The headquarters will be in Las Vegas, Nevada.

The merger will cover land-based gaming, iGaming, sports betting, and fintech solutions.

The company is expected to rake in $2.7 billion in revenue by 2024.

The deal is set to conclude by late 2024 or early 2025.

Catie Di Stefano has worked in the gambling industry since 2011 for major brands like Hard Rock Hotel & Casino, Gaming Innovation Group and Betsson Group. She started in customer support at age 19 and has since worked her way through VIP, CRM and Marketing. Today, Catie is passionate about educating players on consumer rights and the best approaches for legal play in the United States as the Director of Community Marketing at OnlineGamblers.com. Catie was born in Indonesia but grew up in Sweden. Currently, she resides in Spain with her two daughters.

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