Everi Holdings Inc. signed a definitive agreement to acquire Global Gaming and PlayDigital Businesses of International Game Technology PLC from International Game Technology PLC for approximately $1.2 billion.
Post-closing, current IGT PLC Chief Executive Officer Vince Sadusky will lead the combined company, which will be headquartered in Las Vegas. Current IGT Employee Value Proposition Strategy and Corporate Development Fabio Celadon will serve as Chief Financial Officer of the combined company. Current Everi Chief Executive Officer Randy Taylor will be a member of the combined company board of directors. Current Everi Chief Financial Officer Mark Labay will assume the role of Chief Integration Officer. Michael Rumbolz, Everi Executive Chairman, will be chairman of the board of directors of the combined company, which will have eleven total members including six independent directors as required by New York Stock Exchange listing standards. Six of the eleven members will be initially appointed by IGT, including Chief Executive Officer Vince Sadusky, and three of which will be appointed by De Agostini S.p.A., pursuant to an investor rights agreement. The balance of the directors will be initially appointed by Everi, and will include Everi President and Chief Executive Officer Randy Taylor. Global Gaming and PlayDigital businesses generated revenue of $1.8 billion. Macquarie Capital, Deutsche Bank, and Mediobanca are serving as financial advisors to IGT, with Deutsche Bank and Macquarie Capital providing financial commitments. Paul L. Choi, Scott R. Williams, Angela Fontana, Sean Damm, Brent M. Steele, Rachel D. Kleinberg, Suresh T. Advani, Oliver Currall, Mark L. Kaufmann, Lauren A. Gallagher, Teresa L. Reuter, Peter McCorkell, Adam M. Gross, Johnny G. Skumpija, Elizabeth K. McCloy, David E. Teitelbaum, Colleen Theresa Brown, Francesca Blythe, Sven De Knop, Heather M. Palmer, Vincent Brophy, William Blumenthal, Rosanna Connolly, Jamie M. Sadler Sidley Austin LLP acted as legal advisor to IGT. White & Case LLP and Wachtell, Lipton, Rosen & Katz are serving as legal counsel. Global Leisure Partners LLC is serving as the exclusive financial advisor to Everi, and Houlihan Lokey is rendering a fairness opinion to Everi's Board of Directors. Christian A. Salaman, Drew Simon-Rooke, Nick Burgess, Alexandra F. Calcado, Danielle de Zorzi, Brandon B. Eckford, Christian Holbrook, David A. Jakopin, Steven Farmer, Paul E. Thomas, Scott Morton, Mario F. Dottori, William S. Waller, Laura L. McDaniels, Julie A. Divola, Nora E. Burke, Joseph M. Fastiggi, Philip J. Tendler, Bruce A. Ericson, Matthew R. Rabinowitz, Andrea R. Milano, Davina K. Kaile, Alex J. Lathrop, Michael Andres Warley, Michael L. Sibarium, Catherine D. Meyer of Pillsbury Winthrop Shaw Pittman LLP is serving as legal advisor to Everi. Aaron Dixon of Alston & Bird LLP represented Houlihan Lokey, financial advisor to Everi Holdings.