Hector Fernandez appointed as new CEO of combined IGT, Everi entity

Thursday, December 5, 2024 10:20 AM
  • Europe
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  • Rege Behe, CDC Gaming

IGT and Everi announced Wednesday that Hector Fernandez will lead the upcoming combination of the two companies as CEO. Fernandez’s resignation as CEO of Aristocrat Gaming was announced earlier today after six years with the company and two years as CEO.

Fernandez will join the combined enterprise by the fourth quarter of 2025 after a customary non-compete period expires. IGT President, Global Gaming Nick Khin will lead the combined enterprises as interim CEO until Fernandez joins the companies.

“We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise,” said Apollo Global Management Partner Daniel Cohen in a statement. “As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values. Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.

A release stated that during his tenure at Aristocrat, Fernandez created and led several strategic initiatives that enabled gains in market share across multiple verticals while delivering strong revenue growth and increased profitability.

“I couldn’t be more excited to be part of this journey with IGT Gaming and Everi,” Fernandez said. “I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”

Following closing, the combined enterprise will be organized into three business units: Gaming, Digital, and FinTech. When Fernandez joins the combined enterprise, Nick Khin will serve as CEO, Gaming, a newly created role, and will oversee the land-based gaming businesses of the combined enterprise. Gil Rotem, current president of IGT PlayDigital, will serve as CEO, Digital, and Darren Simmons, current executive vice president and fintech business leader at Everi, will serve as CEO, FinTech.

“We’re excited for Nick to take on the additional responsibility of interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins,” Cohen says. “Under Nick’s leadership, IGT has meaningfully improved its industry position and continues to release top performing games across channels. We believe his deep understanding of customers and players, as well as his leadership and passion, will help set the foundation for future success. We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise.”

The previously announced acquisitions of IGT Gaming and Everi are expected to be completed by the end of the third quarter of 2025, assuming satisfaction of closing conditions, including certain gaming and regulatory approvals.

Rege Behe is lead contributor to CDC Gaming. He can be reached at rbehe@cdcgaming.com. Please follow @RegeBehe_exPTR on Twitter.