The merger between IGT Gaming and Everi, facilitated by Apollo Global Management, is on the verge of completion following successful navigation through regulatory approvals across 36 jurisdictions. On Wednesday, Nevada’s Gaming Control Board recommended approval for the $6.3 billion transaction.

The unanimous vote propels the deal to the Nevada Gaming Commission, which is set to review it on June 26. On the same day, the Pennsylvania Gaming Control Board is also anticipated to make a decision regarding the merger. Should both boards grant approval, the transaction is projected to finalize by July 1.

This strategic transaction involves London-based International Game Technology (IGT) and Las Vegas-based Everi Holdings, both operating under the auspices of Apollo Global Management from New York.

As part of the agreement, IGT’s gaming and digital segments will merge with Everi, forming a singular privately held entity under Apollo’s oversight. The unified business will operate under the IGT brand and will be headquartered in Las Vegas.

Apollo, having pledged $20 billion for the acquisition, initially suggested in July 2024 to acquire both sectors, presenting an alternative to IGT’s earlier strategy to split its lottery business from its gaming and digital operations via a merger with Everi.

This initial proposal was unveiled in February. Instead, Apollo’s approach aims to acquire both companies directly. The integration process has involved extensive applications and regulatory submissions in 36 jurisdictions around the globe.

During Wednesday’s meeting, Apollo managing member Daniel Cohen detailed the acquisition process to regulators. The interim name for the venture during the approval phase has been Voyager Parent LLC. Once confirmed, the gaming and digital segment will continue under the IGT brand, while the current IGT lottery division will undergo rebranding.

Control Board Chairman Kirk Hendrick remarked that the review was streamlined due to regulators’ existing familiarity with all involved parties.

Apollo has a two-decade track record of operation in Nevada and currently owns The Venetian and Palazzo on the Las Vegas Strip. IGT has a longstanding presence in Nevada since 1975.

Nick Khin, currently serving as IGT’s president of global gaming, has been appointed as interim CEO. Following the conclusion of a non-compete agreement in the fourth quarter, former Aristocrat Gaming CEO Hector Fernandez will take over the CEO position, allowing Khin to return to his leadership of the global gaming division.

Everi’s chief legal officer, Kate Lowenhar-Fisher, will transition into the role of IGT’s compliance officer. Former Gaming Control Board Chairman Brin Gibson acted as legal counsel for the merger.

Additionally, the board advocated for an order concluding IGT’s status as a publicly traded entity.