Hector Fernandez will take charge as CEO of the merged business combining International Game Technology’s (IGT) Gaming and Digital division with Everi Holdings, once the deal closes.
Apollo Global Management Plans New Leadership Structure Post-Acquisition
This news comes after Apollo Global Management affiliates bought both companies taking a big step to build a varied gaming and fintech platform. Fernandez will start his job in late 2025, after finishing a standard non-compete term. In the meantime, Nick Khin, who now heads IGT’s Global Gaming as President, will act as CEO.
Fernandez, who held the top job at Aristocrat Gaming, has a wealth of experience in tech and gaming. He is known for his smart business moves and financial skills. Under his leadership, Aristocrat‘s worldwide land-based gaming operations saw big growth and profits through fresh ideas. His new role points to a push for new product breakthroughs reaching more markets, and building a work culture that puts employees and customers first.
The new combined company will work under a fresh structure, split into three main parts: Gaming, Digital, and FinTech. Khin will become the CEO of Gaming when Fernandez joins looking after the land-based gaming work. Gil Rotem, who now heads IGT PlayDigital, will take charge of the Digital unit. Darren Simmons, Everi’s top FinTech guy, will run the FinTech division. This setup aims to make the most of both companies’ strong points and spark new ideas in key areas.
Apollo’s Cohen Calls Fernandez the Ideal Leader for Growth and Customer Engagement
Apollo Partner Daniel Cohen pointed out Fernandez’s history of growing businesses and building stronger customer ties calling him the perfect person to lead the organization. Cohen also felt sure Khin could guide the company as temporary CEO and later as head of the Gaming division noting his role in pushing IGT’s market standing and product lineup forward. Fernandez said he is keen to work with the teams at IGT, Everi, and Apollo to create cutting-edge solutions and make customer experiences better.
The $6.3 billion buyout has already cleared key regulatory steps, including Everi shareholder approval and the end of the Hart-Scott-Rodino Act‘s waiting period. IGT plans to split its Gaming and Digital business in early 2025, with the full merger set to close by Q3 of that year.
Teams from Apollo Everi, and IGT are working on blending the new company. The joint platform aims to shake up the gaming and fintech scene offering top-notch products and services worldwide.
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