Apollo Funds to Acquire IGT Gaming and Everi for $6.3 Billion

Paul, Weiss is advising a newly formed holding company owned by funds managed by affiliates of Apollo in its all-cash, $6.3 billion acquisition of International Game Technology’s gaming and digital business IGT Gaming, as well as Everi Holdings, one of the largest suppliers of technology solutions for the casino floor. Upon the deal’s closing, IGT Gaming and Everi will be privately owned companies that are part of one combined enterprise, and IGT will change its name and stock ticker symbol, becoming a premier pure play lottery business. The transaction is expected to close by the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Ross Fieldston, Ian Hazlett and counsel Rosita Lee, and includes, among others, partners Gregory Ezring, Mark Wlazlo, Danielle Penhall, Brian Janson, David Lakhdhir and Matthew Goldstein, and counsel Lisa Koff, Nathan Mitchell and Zuzanna Knypinski; tax partners Brad Okun, Sohail Itani and Cian O’Connor, and counsel Jamie Chambers; intellectual property partner Claudine Meredith-Goujon; executive compensation partner Rebecca Coccaro and counsel Sasha Belinkie; antitrust partner Annie Herdman and counsel John Magruder and Chad de Souza; litigation partners Gregory Laufer and Andrew Ehrlich, and counsel Charles Crandall and Darren Johnson; and real estate partner Peter Fisch.