Nevada’s Gaming Commission approved Apollo Global Management’s acquisition of IGT’s gaming and digital business and Everi, reportedly for $6.3bn. The transaction was scheduled to close on Tuesday; Apollo said it may explore an IPO for the combined IGT in three to five years.
Regulatory approval clears the way for Apollo to combine IGT’s gaming and digital business with Everi.
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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.
IGT said on 17 June that it had renamed its lottery business Brightstar, ahead of a planned spin-off next month. The business is expected to become a pure-play lottery company after the sale of IGT’s Gaming and Digital division to an Apollo Global Management affiliate, which is expected to complete on 1 July.
IGT's global lottery business has begun operating under the Brightstar Lottery name, the company said. Its legal name will remain International Game Technology PLC until a formal change is registered after the Gaming and Digital sale closes; the transaction is expected as soon as 1 July, with the shares expected to trade under ticker BRSL on or about 2 July 2025.