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IGT’s Gaming and Digital Business and Everi to Be Acquired Simultaneously by Apollo Funds in All-Cash Transaction

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International Game Technology PLC (NYSE: IGT) (“IGT”) and Everi Holdings Inc. (NYSE: EVRI) (“Everi”) today announced that they have entered into definitive agreements whereby IGT’s Gaming & Digital business (“IGT Gaming”) and Everi will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (“Apollo”) (the “Apollo Funds”) in an all-cash transaction that values the acquired businesses at approximately $6.3 billion on a combined basis.

On February 29, 2024, IGT and Everi announced that they had entered into definitive agreements pursuant to which IGT would separate the IGT Gaming business by way of a taxable spin-off to IGT shareholders and then immediately combine such business with Everi. Under the terms of the new agreements, the Apollo Funds will acquire IGT Gaming and Everi. Following closing, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise.

Under the terms of the new agreements, Everi stockholders will receive $14.25 per share in cash, representing a 56% premium over Everi’s closing share price on July 25, 2024. IGT will receive $4.05 billion of gross cash proceeds for IGT Gaming. IGT expects significant portions of the cash proceeds to be used to repay debt and to be returned to shareholders.

De Agostini S.p.A., a società per azioni organized under the laws of Italy, the majority shareholder of IGT, has committed to make a minority equity investment in the combined enterprise at the closing of the transaction.

Upon completion of the sale of IGT Gaming to the Apollo Funds, IGT will change its name and stock ticker symbol, becoming a premier pure play lottery business.

The transaction with the Apollo Funds has been unanimously approved by a special committee of the IGT Board of Directors and unanimously approved by all members of the Everi Board of Directors, and the previous transaction agreements between IGT and Everi entered into on February 28, 2024 have been terminated.

Vince Sadusky, IGT PLC CEO, said, “Our new agreement represents a positive evolution of our previously announced transaction with Everi and a successful culmination of the strategic review process that IGT launched last year. With the Apollo Funds, we have found a partner that recognizes the strength of IGT Gaming, the value of our talent and our position in the industry. This transaction will allow IGT Gaming to continue to invest in and enhance its growing core segments while providing customers with a more comprehensive portfolio of offerings. After the closing of this transaction, IGT’s shareholders will continue to own one hundred percent of IGT’s Global Lottery business, which will be positioned for long-term success as a pure-play global lottery player with a more focused, compelling business model and optimized capital structure to drive long-term shareholder value.”

Randy Taylor, Everi President and CEO, added, “We believe this transaction maintains the integrity and strong strategic rationale of our original agreement with IGT, but now also provides significant and certain value to our stockholders as we move forward with the Apollo Funds as our partner. By joining forces with IGT Gaming, we expect to continue to lead, innovate, and provide unparalleled value to our customers as a stronger player in the global gaming, FinTech, and digital industry. Apollo is a respected investment firm with a strong track record in the gaming sector, and they recognize the value of our business and see significant potential in bringing IGT Gaming and Everi together. Under private ownership, we believe we will be better positioned to accelerate the integration of our two organizations for the benefit of our customers and employees.”

Daniel Cohen, Partner at Apollo, stated, “We are excited to reach this agreement with IGT and Everi, which establishes a leading, diversified solutions provider that is well positioned across the entire gaming ecosystem. As an active investor in the gaming and leisure sector for many years, we have long admired both companies and their highly talented teams. We strongly believe in the value proposition of the combination and are confident these complementary gaming platforms will be even better positioned under private ownership to capture the opportunities ahead to grow and create value. We look forward to working in partnership with all the people at IGT Gaming and Everi to propel the combined enterprise forward.”

Apollo has a strong track record of successful current and former investments across leisure, including in the gaming and entertainment sectors.

Leadership, Governance & Structure

IGT PLC CEO Vince Sadusky will oversee the separation of IGT Gaming and support the transition through transaction completion. Post-closing, Mr. Sadusky will continue in his role, leading the lottery-focused company under its new name and stock ticker symbol. Following the acquisitions of IGT Gaming and Everi by the Apollo Funds, current IGT EVP Strategy and Corporate Development, Fabio Celadon, will serve as CFO, and current Everi CFO, Mark Labay, will assume the role of Chief Integration Officer, of the combined enterprise. The newly formed combined enterprise will be headquartered in Las Vegas.

In addition, upon closing of the transaction, the shares of common stock, par value $0.001 per share, of Everi will be delisted from the New York Stock Exchange.

Approvals and Timing

The acquisitions of IGT Gaming and Everi by the Apollo Funds are cross-conditioned. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals and approval by Everi stockholders, and is expected to be completed by the end of the third quarter of 2025. IGT shareholder approval is not required for the transaction.

Upcoming Second Quarter 2024 Earnings Results

IGT will release its second quarter 2024 financial results and hold its earnings conference call as planned on July 30, 2024 at 8:00 a.m. ET.

Everi will release its second quarter 2024 financial results no later than August 9, 2024. In light of this transaction with Apollo, Everi will not host an earnings conference call.

Advisors

Macquarie Capital, Deutsche Bank, and Mediobanca are serving as financial advisors to IGT, and Sidley Austin LLP, White & Case LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel to IGT.

Global Leisure Partners LLC is serving as the exclusive financial advisor to Everi, and Houlihan Lokey provided additional financial advice to Everi’s Board of Directors. Pillsbury Winthrop Shaw Pittman LLP is serving as legal counsel to Everi.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the Apollo Funds.

Deutsche Bank and Macquarie Capital are providing financing commitments for the transaction.

The post IGT’s Gaming and Digital Business and Everi to Be Acquired Simultaneously by Apollo Funds in All-Cash Transaction appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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From Rolling Loud to Riot Games: How 2025 Became the Year of Indian Gaming

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Editor’s Take

Why this matters: India has long been a mobile-first gaming market (thanks to PUBG Mobile/BGMI). But 2025 proved that PC esports is not dead; in fact, it’s thriving culturally. Riot’s ability to integrate VALORANT into mainstream Indian youth culture—from “topper” billboards on exam result day to hip-hop festivals—is a masterclass in localized marketing. The success of S8UL Esports in League of Legends also signals that South Asia is finally ready to compete in global Tier 1 events.

The Full Story

Riot Games has released a retrospective on 2025, describing it as the year gaming in South Asia “didn’t feel tucked away anymore,” but rather became an unmistakable part of mainstream culture.

From filled cafés during watch parties to billboards featuring “inside jokes” from voice comms, the publisher’s year was defined by a massive surge in engagement across India, Bangladesh, Sri Lanka, Nepal, Maldives, and Bhutan.

The Competitive Surge: LoL and VALORANT The year began with the launch of Legends Ascend South Asia, a structured pathway for League of Legends talent that the region had been demanding. Ninety-five teams competed, culminating in S8UL Esports lifting the trophy and qualifying for the LCP Wild Card Playoffs—placing South Asian talent directly into the global conversation.

Simultaneously, PC esports found its footing in India through VALORANT Challengers South Asia.

  • The Numbers: The circuit recorded over 103 million live and non-live views throughout the season.

  • The Finals: The LAN event peaked at 50,000 concurrent viewers, proving that the appetite for PC tactical shooters remains fierce in a mobile-dominated region.

Cultural Crossovers: V5 and Rolling Loud Midway through the year, VALORANT celebrated its fifth anniversary (V5) with a campaign deeply rooted in Indian student culture.

  • “VAL Toppers”: On JEE results day (a major academic milestone in India), Riot reimagined the traditional “exam topper” billboards to celebrate Radiant-ranked players, sparking a viral conversation.

  • Rolling Loud India: In November, gaming met hip-hop. Riot integrated VALORANT into one of the world’s largest hip-hop festivals, with karaoke pods and gaming zones operating alongside performances by Wiz Khalifa and Central Cee.

Management Commentary Anushka Bhatnagar, Publishing Lead for Riot Games India & South Asia, reflected on the shift:

“2025 felt like a year when India’s gaming and esports landscape stepped into the centre of cultural conversation. VALORANT turning five reminded us how deeply the community here has shaped the game. From grassroots watch parties to moments like Rolling Loud, the ecosystem grew with a confidence that felt distinctly homegrown.”

Grassroots Momentum Beyond the flash of festivals, the year was sustained by community energy. College events introduced first-time players to the ecosystem, while local watch parties turned malls into pop-up arenas, ensuring that the growth of South Asian gaming was built “together” rather than just broadcast from above.

The post From Rolling Loud to Riot Games: How 2025 Became the Year of Indian Gaming appeared first on Gaming and Gambling Industry Newsroom.

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Wazdan Strikes Major Croatian Deal with Admiral.hr

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Editor’s Take

Why this matters: Croatia is becoming one of the most robust regulated markets in the Balkans. For a supplier like Wazdan, partnering with a brand like Admiral—which has immense brand equity in the region thanks to its land-based heritage—is a significant “trust signal.” It moves Wazdan from being just another provider in the lobby to a core content partner for a market leader.

The Full Story

Wazdan, the developer defining itself as “gain-focused,” has solidified its position in the Balkans by signing a major content partnership with Admiral.hr, one of Croatia’s leading online gaming operators.

The collaboration will see a curated selection of Wazdan’s high-performance titles deployed to Admiral’s extensive player base. The initial rollout features some of the studio’s strongest recent releases, including:

  • 9 Bells

  • Book of Faith

  • 12 Coins Grand Gold Edition

  • 25 Coins Grand Gold Edition

  • Mighty Wild: Panther Grand Diamond Edition

Mechanics Over Aesthetics While the visual quality of the games is a draw, the partnership is heavily focused on Wazdan’s proprietary engagement mechanics. Admiral.hr will leverage features such as Cash Infinity, Sticky to Infinity, and the renowned Hold the Jackpot bonus engine. These mechanics are designed specifically to increase session time and player retention, key metrics for operators in mature European markets.

Management Commentary Magdalena Wojdyla, Head of Account Management for Europe at Wazdan, highlighted the strategic fit:

“Partnering with Admiral.hr is an important step in strengthening our presence in Croatia and the wider European region. Admiral is a highly respected brand with a deep understanding of its players, making it an ideal partner for showcasing our proven portfolio and engagement-driven mechanics.”

Žarko Žuvela, Head of Online Gaming Department at Admiral.hr, emphasized the need for fresh content:

“Wazdan has built a strong reputation for creating content that combines innovative mechanics with standout visual appeal… The addition of these popular titles and retention-focused features will enhance our casino portfolio and provide our players with fresh, high-quality entertainment.”

This deal marks the latest step in Wazdan’s aggressive European expansion strategy for late 2025, following a string of commercial successes in neighboring jurisdictions.

The post Wazdan Strikes Major Croatian Deal with Admiral.hr appeared first on Gaming and Gambling Industry Newsroom.

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QTech Games Adds Africa’s ‘Crazy Rocket’ Hitmaker AbraCadabra to Platform

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Editor’s Take

Why this matters: In regions like Africa and LatAm, players aren’t always looking for heavy, 4K video slots. They want fast, lightweight, high-frequency games—often called “Turbo” or “Crash” games. AbraCadabra’s Crazy Rocket has already proven it works with thousands of daily users in Africa. By adding this studio, QTech is doubling down on the type of content that actually converts in low-bandwidth, high-volume jurisdictions.

The Full Story

QTech Games, the leading game aggregator known for its dominance in emerging markets, has announced a new content distribution deal with AbraCadabra, a supplier specializing in high-paced, instant-win casino experiences.

The partnership ensures that QTech’s robust pipeline remains stocked with the specific genre of games currently driving growth in territories across Africa, Latin America, and Asia.

The “Crash” Factor AbraCadabra has carved out a niche by producing dynamic content that appeals to the modern, mobile-first player. The standout title in the integration is Crazy Rocket, a crash game that has reportedly “taken Africa by storm” in recent months, logging thousands of daily active players due to its fast mechanics and suitability for markets with variable internet speeds.

Beyond crash games, the deal brings a suite of crypto-ready and “Turbo” style games to the QTech platform, including:

  • Mayan Plinko

  • Narco Mines

  • Lucky Fish

  • Football Keno

These titles rely on sophisticated math modeling to vary volatility, creating the engagement loops necessary for retention in competitive markets.

Management Commentary Philip Doftvik, CEO at QTech Games, noted that localized content is the aggregator’s primary metric for success:

“AbraCadabra’s content brings a level of gameplay that reliably brings players coming back for more, improving repeat-session and dwell-time metrics. Like us, they know that localized solutions represent the key to success across a patchwork array of global opportunities.”

Serob Vardanyan, CEO at AbraCadabra, emphasized the distribution power of the deal:

“We are aiming to become the leading B2B casino game provider, delivering high-engagement games that offer superior player retention and crypto-ready solutions. Deals with aggregators of QTech’s stature bring that goal closer to realization.”

The integration is effective immediately, making the AbraCadabra portfolio available to QTech’s extensive network of operator partners in emerging territories.

The post QTech Games Adds Africa’s ‘Crazy Rocket’ Hitmaker AbraCadabra to Platform appeared first on Gaming and Gambling Industry Newsroom.

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