IGT said it expects to complete the sale of its Gaming & Digital business to funds managed by affiliates of Apollo Global Management by the end of Q3 2025. The announced transaction is valued at $4.05bn and forms part of a merger with Everi Holdings.
Investors and business partners can plan for the proposed transfer of IGT’s Gaming & Digital business within the Everi merger.
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IGT said it will wind down its electronic table game business in 2027 as part of its strategic focus. The company said it will continue supporting customers during the transition, but gave no further details on the closure process.
IGT announced layoffs affecting approximately 700 employees, or about 10% of its global workforce, according to a report dated 27 March 2026. The company did not disclose the roles or locations affected; an internal memo reportedly said the cuts were not performance-related and aimed to simplify the organisation and reduce duplication.
IGT chief executive Hector Fernandez told employees on 23 March that the company would eliminate 700 jobs worldwide, about 10% of its workforce. He said the cuts were intended to align resources with business priorities and were not performance-related; the company did not specify how many roles in Nevada would be affected.
IGT confirmed that Hector Fernandez has started as CEO of its gaming business after completing contractual obligations that delayed his arrival. Nick Khin will leave his company post and become a strategic adviser to senior leadership and the board; IGT’s digital and FinTech units will remain led by Gil Rotem and Darren Simmons, respectively.
DraftKings plans to launch its DraftKings Predictions platform, including sports event contracts, before the end of 2025, the company said. The launch is expected in the coming months and remains subject to licensure; the company plans initially to target states without its sportsbook.