Major slot machine manufacturer IGT returns to Las Vegas

It’s official: IGT has returned home to Las Vegas.

Apollo Global Management Inc. on Tuesday announced the closing of the $6.3 billion acquisition of the gaming and digital business departments of International Game Technology and moving its headquarters to Las Vegas.

The all-cash transaction brings together complementary businesses to form a privately held global leader in gaming, digital and financial technology.

IGT was founded in Reno in 1975 and quickly became one of the world’s most dominant slot-machine manufacturers. Over the years, it eventually moved its headquarters to Las Vegas, but in 2014, the company was sold to Italian lottery company executives from Gtech Holdings, which brought the two divisions together and bought the company, brand and IGT name and moved the headquarters to London with main operations in Rome.

That entity opted in 2024 to divest the gaming manufacturing division from its lottery operations and sell it to Apollo, which also acquired Las Vegas-based equipment manufacturer Everi Holdings in the transaction.

The deal had to be reviewed by 36 regulatory agencies with one of the last approvals coming Thursday by the Nevada Gaming Commission.

The Italian lottery operation will now become known as Brightstar Lottery with the IGT name sticking with the Las Vegas operation.

New York-based Apollo has been in Nevada’s gaming industry for two decades and currently owns The Venetian and Palazzo on the Strip.

Longtime Nevada gaming executive Nick Khin, who was approved to be licensed as a key executive by the Gaming Commission, will become interim CEO of the new IGT, overseeing 2,000 Nevada employees.

“This is a defining moment for our industry,” Khin said in an emailed release. “By uniting two leading organizations (IGT and Everi), we are building an enterprise with the scale, talent and technology to lead the future of gaming. With Apollo’s support, we are very well-positioned to deliver exceptional content across land-based and digital experiences, along with integrated financial solutions and casino management that enhance the player journey and drive value for our customers.”

When former Aristocrat Gaming CEO Hector Fernandez completes a non-compete agreement in the fourth quarter, he will become IGT’s CEO and Khin will become head of IGT’s global gaming division.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.