Nearly a decade after slot machine giant International Game Technology (IGT) merged with worldwide lottery conglomerate GTECH, the casino equipment provider will return to its roots in Nevada through a $6.2 billion transaction with Las Vegas-based Everi Holdings.
Under the terms of the deal announced Thursday morning, IGT’s slot machine division and its digital gaming operations will be spun off from the lottery business into a separate public company. The new company will combine with Everi, with the merged operations taking on the historic IGT name.
“The deal creates a one-stop shop across land-based [casino] gaming, iGaming, sports betting, and [financial technologies],” Truist Securities gaming analyst Barry Jonas wrote in a research note following the announcement.
Jonas said the combination of Everi’s financial technology with IGT’s management systems, “would create a more complete all-in-one offering with a strong back-end product portfolio.”
