International Game Technology (IGT) has announced a major strategic move to merge two of its units with Everi Holdings Inc. in a deal valued at $6.2 billion. This divestiture is set to reshape the gaming industry landscape and create a stronger player in the market.
IGT, a leading gaming technology company, will combine its Global Gaming and Global Lottery divisions with Everi, a prominent provider of gaming products and financial technology solutions. The merger aims to leverage the strengths of both companies to drive innovation and growth in the sector.
By joining forces, IGT and Everi seek to enhance their product offerings, expand their customer base, and capitalize on new opportunities in the evolving gaming market. The deal is expected to result in cost synergies and operational efficiencies, further boosting the combined entity's competitive position.
With this strategic divestiture, IGT is streamlining its operations and focusing on core areas of its business. The company believes that the merger with Everi will unlock value for shareholders and drive long-term success in the industry.
Both IGT and Everi are optimistic about the potential of this merger and the benefits it will bring to their respective businesses. The transaction is subject to regulatory approvals and customary closing conditions, with completion expected in the near future.
Overall, the merger between IGT and Everi represents a significant development in the gaming sector, signaling a new era of collaboration and growth in the industry. The combined entity is poised to lead the way in delivering innovative gaming solutions and driving value for stakeholders.
