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Everi stockholders approve acquisition by fund managed by Apollo Global Management

Everi stockholders have approved the $6.3 billion acquisition of the company, along with the Gaming & Digital business of International Game Technology (IGT) by a fund managed by Apollo Global Management via a merger.

The group announced the approval on Thursday, noting that ‘shareholders have voted at a special meeting’.

According to the release, ‘approximately 99.88 percent of the shares voted were voted in favor of the merger’. This represents approximately 71.48 percent of the total outstanding shares of Everi common stock (as of October 3rd, the date of the special meeting).

American Gaming Association elects Everi’s Michael Rumbolz as its new chairman
Michael Rumbolz, Chairman Board of Directors

“We are pleased that our stockholders supported our transaction with the Apollo Funds,” said Michael Rumbolz, chairman of the Company’s Board of Directors. “We now shift our focus to the important next steps toward completing the transaction and maximizing value for Everi stockholders.”

The proposed transaction is expected to close by the end of the third quarter of 2025.

More information will be revealed via a form filed with the US Securities and Exchange Commission (SEC).

IGT-iLottery

Everi stockholders will receive $14.25 per share in cash, representing a significant 56 percent premium over Everi’s closing share price on July 25, 2024. Meanwhile, IGT will receive $4.05 billion in gross cash proceeds from the sale of IGT Gaming.

After the transaction closes, IGT will transition to a pure-play lottery business, changing its name and stock ticker symbol.

The combined IGT Gaming and Everi enterprise will be headquartered in Las Vegas and led by a management team that includes Fabio Celadon as CFO and Mark Labay as Chief Integration Officer.

Kelsey Wilhelm
Kelsey Wilhelmhttps://agbrief.com
Kelsey Wilhelm is a broadcast, print journalist and editor based in Asia for over 15 years. Focused on content creation, management, cross-cultural exchange and interviews for multi-lingual productions. Writing focus on gaming, business, politics, culture and heritage, events and celebrities, subcultures, music, film, art and fashion. Some of Kelsey's specialties are: editing, writing, copy creation, multi-lingual content production, cross-cultural exchange, content creation and management for Asian markets.

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