Everi Holdings Incorporated (NYSE: EVRI), a leading provider of casino gaming products, financial technology solutions, and player engagement tools, has announced a decisive step forward in its strategic evolution. Shareholders overwhelmingly approved the acquisition of Everi and the Gaming & Digital business of International Game Technology PLC (NYSE: IGT) by a holding company formed by Apollo Global Management, Inc. (NYSE: APO). Under the agreement, Everi stockholders will receive $14.25 per share in cash. With nearly unanimous support and closing targeted for late 2025, this merger underscores a bold vision for the future of gaming technology.

1. Shareholder Approval: A Defining Moment

Unprecedented Support: At the Special Meeting, 99.88% of shares voted were in favor of the merger, representing 71.48% of total outstanding shares as of the record date, October 3, 2024.

Cash Compensation: Stockholders will receive $14.25 per share in cash, providing an attractive premium and immediate liquidity.

Strategic Shift: This merger sets the stage for Everi’s integration into Apollo Funds' broader gaming and digital strategy.

2. Leadership Reaction and Strategic Intent

Chairman’s Perspective: Michael Rumbolz, Chairman of Everi's Board, expressed gratitude for shareholder support, emphasizing the company’s commitment to delivering value. "We now shift our focus to the important next steps toward completing the transaction and maximizing value for Everi stockholders," Rumbolz said.

Forward-Looking Vision: The merger aligns with Everi’s mission to enhance operational efficiencies, improve customer engagement, and pioneer gaming innovations.

3. Transaction Timeline and Regulatory Filing

Expected Completion: Pending the satisfaction of closing conditions, the transaction is expected to conclude by the end of Q3 2025.

SEC Filing: Final voting results will be documented in a Form 8-K, filed with the U.S. Securities and Exchange Commission.

4. Understanding Everi’s Industry Leadership

Core Mission: Everi aims to lead the gaming industry by leveraging technology, creativity, and its people.

Innovative Product Suite: The company develops a diverse range of solutions, including:

Gaming Content and Machines: Cutting-edge products for land-based, iGaming, and bingo operators.
Financial Technology Solutions: Systems designed to enhance casino floor operations and regulatory compliance.
Player Engagement Tools: Mobile-first loyalty applications and tools that increase customer interaction across casinos, sports, and entertainment venues.
Expanding Horizons: Everi’s growing presence in adjacent industries underscores its ambition to transform gaming and hospitality.

5. The Role of Apollo Global Management

Strategic Synergy: Apollo Funds, renowned for their expertise in transforming companies, bring the resources and vision to amplify Everi’s market impact.

Gaming Focus: Apollo’s acquisition of both Everi and IGT’s Gaming & Digital business signals a commitment to integrating complementary capabilities for enhanced market leadership.

6. Shareholder Implications and Market Impact

Premium Valuation: The $14.25 per share cash offer represents a strong return for investors, reflecting confidence in Everi’s intrinsic value.

Market Positioning: With Apollo’s backing, Everi is poised to scale its operations, accelerate innovation, and solidify its leadership in gaming technology.

7. Strategic Roadmap Post-Merger

Focus Areas: Post-merger efforts will prioritize:

Integration: Seamlessly combining Everi and IGT’s digital assets for operational synergy.
Innovation: Investing in advanced gaming solutions to meet evolving consumer preferences.
Global Expansion: Leveraging Apollo’s resources to penetrate new markets and enhance global competitiveness.