IGT is separating its Global Gaming and PlayDigital businesses and combining them with Everi to create “a comprehensive and diverse global gaming and fintech enterprise.”
The deal values the combined deal at around $6.2bn on an enterprise value basis.
In terms of shares, IGT shareholders will own roughly 54 per cent of the business and Everi shareholders will own roughly 46 per cent.
Said Marco Sala, IGT executive chair of the board: “The transaction will combine two robust gaming platforms with complementary capabilities, geographic footprints and enhanced growth opportunities. It also facilitates the separation of IGT’s Global Gaming and PlayDigital businesses from our Global Lottery business, resulting in a pure play global lottery business.
“After closing, IGT’s shareholders will continue to own one hundred percent of IGT’s Global Lottery business, which is positioned for long-term success, and will own a majority of a combined company that offers global gaming, digital and fintech.”
“We are bringing together two businesses with complementary strengths that are stronger and more valuable together,” added Vince Sadusky, IGT CEO. “The combination results in a comprehensive and diverse product offering, addressing more aspects of the gaming ecosystem across land-based gaming, igaming, sports betting, and fintech.
“The creation of separate gaming and lottery companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders.”
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