Everi Holdings‘ stockholders have voted to approve the pending simultaneous acquisition of Everi and IGT’s Gaming & Digital business by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management.
Apollo Global’s deal for Everi and IGT’s Gaming & Digital business has been in place since July earlier this year, with it covering a previous merger agreement in place between Everi and IGT.
At a recent stockholders’ special meeting, the casino gaming content and products provider noted that “approximately 99.88% of the shares voted were voted in favour of the merger, which represented approximately 71.48% of the total outstanding shares of Everi common stock as of October 3, 2024, the record date for the Special Meeting”.
Everi stated that per the terms of the merger agreement, stockholders will “receive $14.25 per share in cash for every share of Everi common stock they own immediately prior to the effective time of the merger”.
“We are pleased that our stockholders supported our transaction with the Apollo Funds,” commented Michael Rumbolz, Chair of Everi’s Board of Directors.
“We now shift our focus to the important next steps toward completing the transaction and maximising value for Everi stockholders.”
In line with what IGT said earlier this week alongside its third-quarter financials, Everi said that the proposed transaction is expected to close by the end of Q3 2025, assuming a timely satisfaction of necessary closing conditions.
At the time of Apollo’s initial acquisition announcement in July, Daniel Cohen, Partner at Apollo, stated: “We are excited to reach this agreement with IGT and Everi, which establishes a leading, diversified solutions provider that is well positioned across the entire gaming ecosystem. As an active investor in the gaming and leisure sector for many years, we have long admired both companies and their highly talented teams.
“We strongly believe in the value proposition of the combination and are confident these complementary gaming platforms will be even better positioned under private ownership to capture the opportunities ahead to grow and create value. We look forward to working in partnership with all the people at IGT Gaming and Everi to propel the combined enterprise forward.”