IGT’s Move to Las Vegas Gains Momentum with Regulatory Endorsement

Nevada regulators have given a green light to a major industry realignment involving gaming giants IGT and Everi, recommending approval for a $6.3 billion transaction that would see the combined company relocate its headquarters to Las Vegas.

The Nevada Gaming Control Board voted unanimously to backing the acquisition with $20 billion in committed capital.

Combined Gaming Operation to Be Led From Las Vegas

Pending final approval from the Nevada Gaming Commission and Pennsylvania regulators—both scheduled to weigh in on June 26—the transaction is expected to close on July 1. The deal will combine the gaming and digital arms of IGT with Everi’s manufacturing expertise to form a consolidated business. The legacy IGT lottery segment will operate independently under a new name, continuing global operations from its hub in Italy.

Apollo, which referred to the merger during planning stages as “Voyager Parent LLC,” has spent the past 11 months coordinating with gaming authorities across 36 jurisdictions. Daniel Cohen, managing member at Apollo, delivered a detailed 90-minute presentation outlining the integration process to Nevada’s board.

The firm is no stranger to the state’s gaming scene, having held stakes in Las Vegas casinos like The Venetian and The Palazzo. “Apollo, which has invested in Nevada casinos for two decades,” is already well-vetted in the region, Control Board Chairman Kirk Hendrick noted. He emphasized that familiarity with the companies involved helped regulators navigate the deal’s complexity.

Leadership Transitions and Regulatory Compliance

The new IGT will see familiar industry faces at the helm. Nick Khin, IGT’s current president of global gaming, was recommended for a key executive role and will serve as interim CEO until Hector Fernandez, the former Aristocrat Gaming CEO, completes a non-compete agreement later this year. Fernandez is expected to assume the CEO role in the fourth quarter, while Khin will return to lead IGT’s global gaming operations.

“I’ve been in the gaming industry for 23 years,” Khin noted during the proceedings, adding that IGT employs approximately 2,000 people in Nevada.

Everi’s legal chief, Kate Lowenhar-Fisher, is also set to play a key role in the new structure, taking over as compliance officer for the reorganized IGT.

Former Nevada Gaming Control Board Chairman Brin Gibson also contributed to the transaction, serving as legal counsel for the Voyager project.

Public Company Status to End

In an additional move, the Control Board also endorsed the deregistration of IGT as a publicly traded entity, a procedural step in transitioning the company to private ownership under Apollo.

The commission approvals mark the final stages of a transformative deal that will not only reshape the involved companies but also reestablish IGT as a Nevada-based enterprise—a return to its roots since its original founding in the state in 1975.

Source:

“Control Board recommends OK of IGT’s transition back to Las Vegas”, reviewjournal.com, Jun 11, 2025