A stockholder vote has seen casino technology supplier Everi Holdings Inc affirm a planned third-quarter 2025 closure date for the deal to merge the gaming and digital content business of International Game Technology Plc into a new Everi entity. The new business is to be owned by funds linked to private equity firm Apollo Global Management Inc.
The date on the deal was assuming “timely satisfaction of necessary closing conditions,” said Everi Holdings in a Thursday statement following the vote that day at a special meeting of existing Everi Holdings stockholders.
The meeting saw 99.88 percent of the shares that were voted, being in favour. The votes cast, represented 71.48 percent of the total outstanding shares of Everi common stock as of October 3.
Under the merger agreement, Everi Holdings stockholders will receive US$14.25 per share in cash for every share of common stock in the existing Everi entity they own as of the date immediately prior to the merger.
It has been described previously as a US$6.3-billion deal on a combined basis.
Michael Rumbolz, chairman of the existing Everi entity, was cited in a Thursday press release as saying: “We are pleased that our stockholders supported our transaction with the Apollo funds.”
He added: “We now shift our focus to the important next steps toward completing the transaction and maximising value for Everi stockholders.”
