In a shocking turn of events, two major players in the casino gaming industry are set to be acquired by Apollo Global Management, a leading private equity firm. International Game Technology (IGT) and Everi Holdings Inc. have both agreed to be purchased by Apollo in a deal that is set to reshape the landscape of the gambling world.
IGT, one of the largest and most well-known gaming companies in the world, has been a fixture in the industry for decades. The company, which is based in London, designs and manufactures gaming machines and systems used in casinos around the globe. Everi, on the other hand, is a newer player in the industry, specializing in providing payment processing solutions and technology to casino operators.
The deal, which is reportedly worth billions of dollars, is seen as a strategic move by Apollo to strengthen its presence in the gaming sector. The private equity firm has been steadily increasing its investments in the industry in recent years, and the acquisition of IGT and Everi will further solidify its position as a major player in the space.
Industry analysts have described the deal as a “game-changer” for both companies, as it will provide them with the financial resources and stability needed to compete in an increasingly competitive market. The acquisition is also expected to bring about significant synergies between the two companies, leading to a more efficient and streamlined operation.
While the news of the acquisition has been met with excitement by some, others have expressed concerns about the potential impact on competition in the industry. With IGT and Everi now under the control of a single entity, there are fears that smaller gaming companies could struggle to compete against the newly formed powerhouse.
Despite these concerns, Apollo has emphasized its commitment to maintaining a fair and competitive playing field in the industry. In a statement, the firm has pledged to uphold the highest standards of corporate governance and transparency, ensuring that all players in the industry have a level playing field.
Overall, the acquisition of IGT and Everi by Apollo is set to have far-reaching implications for the casino gaming industry. With two major players now under the control of a single entity, the landscape of the industry is likely to undergo a significant transformation in the coming years. Only time will tell how this deal will ultimately impact the industry, but one thing is certain – the casino gaming world will never be the same again.
