International Game Technology to merge two units with Everi in $6.2 billion deal

News, Tech

International Game Technology to merge two units with Everi in $6.2 billion deal

By Ananta Agarwal

(Reuters) – International Game Technology said on Thursday it was separating its global gaming and playdigital businesses and combining them with gaming machine maker Everi Holdings in a deal valued at $6.2 billion, including debt.

IGT shareholders are expected to own about 54% of the combined company, with the rest going to Everi stockholders.

The deal, which comes after IGT’s board launched a strategic review of its Global Gaming and PlayDigital businesses, will separate the firm’s offerings such as land-based gaming, iGaming, sports-betting and fintech, leaving it a pure-play global lottery business.

International Game Technology to merge two units with Everi in $6.2 billion deal — FILE PHOTO: A screen displays the ticker symbol for International Game Technology PLC, (IGT) at the post where it is traded following it’s launch on the floor of the New York Stock Exchange April 7, 2015. REUTERS/Brendan McDermid/File Photo

Tags: Everi, International Game Technology

0

About the Author / 4imag team

The 4iMag Team is a collective byline representing the collaborative work of journalists, researchers, academics, and field experts who contribute to 4i Magazine’s exploration of innovation, intelligence, information, and insight. Each article published under the 4iMag Team is a result of interdisciplinary collaboration—blending in-depth journalistic investigation with the expertise of leading lecturers, professionals, and specialists from around the world. By fusing front line reporting with expert perspectives, especially on breakthroughs in fields like artificial intelligence, cybersecurity, space technology, and emerging scientific paradigms, the 4iMag Team produces timely, well-researched content that is both accurate and rich in thought leadership.