Hector Fernandez named CEO for combination of IGT Gaming with Everi

The holding company formed to acquire International Game Technology’s (IGT) Gaming & Digital Business and Everi Holdings (EVRI) in connection with the previously announced acquisitions by funds managed by affiliates of Apollo Global Management (APO) announced that Hector Fernandez will lead the combined enterprise as CEO. Mr. Fernandez most recently served as CEO of Aristocrat Gaming, Aristocrat Leisure Limited’s global land-based gaming content and technology business. During his tenure, he devised and led a number of strategic initiatives that enabled gains in market share across multiple verticals while delivering strong revenue growth and increased profitability. Mr. Fernandez will join the combined enterprise by the fourth quarter of 2025 after expiration of a customary non-compete period. Following the transaction close, Nick Khin, President, Global Gaming at IGT, will lead the combined enterprise as Interim CEO until Mr. Fernandez assumes the CEO role. Following closing, the combined enterprise will be organized into three business units: Gaming, Digital, and FinTech. Upon Mr. Fernandez joining the combined enterprise, Mr. Khin will step into the newly formed role of CEO, Gaming, and will oversee the land-based gaming businesses of the combined enterprise. Gil Rotem, current President of IGT PlayDigital, will serve as CEO, Digital, and Darren Simmons, current Executive Vice President and FinTech Business Leader at Everi, will serve as CEO, FinTech. These appointments expand on the previously announced leadership for the combined enterprise. The previously announced acquisitions of IGT Gaming and Everi are still expected to be completed by the end of the third quarter of 2025, assuming the timely satisfaction of closing conditions, including certain gaming and regulatory approvals. On November 14, 2024, Everi stockholders approved the transaction. On November 20, 2024, at 11:59 p.m. ET, the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 expired. The separation of the IGT Gaming business remains on track and is expected to be complete in early 2025. Integration planning for the combined enterprise is underway, led by a dedicated team comprising representatives of the Apollo Funds, Everi and IGT Gaming.