Aristocrat Gaming’s former CEO Hector Fernandez left the company to assume a role as CEO for the combined International Game Technology (IGT) and Everi enterprise.
The move was announced by Apollo Global Management on Thursday.
Apollo indicated that Fernandez is expected to join ‘by the fourth quarter of 2025 […] after expiration of a customary non-compete period’.
In November, Everi stockholders approved the $6.3 billion acquisition of the company, along with the Gaming and Digital business of IGT, by a fund managed by Apollo Global Management via a merger.
In the Thursday update, Apollo indicated that Nick Khin will serve as Interim CEO of the combined enterprise until Fernandez assumes the role. Khin was elevated to President of IGT’s Global Gaming arm back in August.
The Thursday upate also highlighted that the combined enterprise will be organized into three business units: Gaming, Digital and FinTech.
Khin will transition into the role of CEO of the group’s Gaming segment, after Fernandez’s arrival, overseeing the group’s land-based gaming businesses.
For its Digital segment, current President of IGT PlayDigital, Gil Rotem, will serve as CEO.
For the FinTech segment, current Executive Vice President and FinTech Business Leader at Everi, Darren Simmons, will serve as CEO.
The acquisitions of IGT Gaming and Everi ‘are still expected to be completed by the end of the third quarter of 2025, assuming the timely satisfaction of closing conditions, including certain gaming and regulatory approvals,’ notes the company.
‘The separation of the IGT Gaming business remains on track and is expected to be complete in early 2025,’ indicated Apollo.
Speaking of the new appointments, Daniel Cohen, Partner at Apollo indicated “As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values”.
Looking at Khin’s leadership in the interim period, Cohen noted “We’re excited for Nick to take on the additional responsibility of Interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins”.
Speaking of the other two position elevations, Cohen noted “We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise”.
