International Game Technology PLC in the spinoff of its Global Gaming and PlayDigital Business, and subsequent combination with Everi Holdings Inc.

On February 29, 2024, International Game Technology PLC (NYSE: IGT) and Everi Holdings Inc. (NYSE: EVRI) announced their entry into definitive agreements pursuant to which IGT will separate its Global Gaming and PlayDigital businesses by way of a taxable spin-off to IGT shareholders and then immediately combine such businesses with Everi to create a comprehensive and diverse global gaming and fintech enterprise.  Under the terms of the agreements, at closing, IGT shareholders are expected to own approximately 54% and Everi stockholders are expected to own approximately 46% of the shares in the combined company.  The transaction has been approved unanimously by all voting members of the IGT Board of Directors and Everi Board of Directors.  The deal values the combined businesses at approximately $6.2 billion on an enterprise value basis.

Wachtell, Lipton, Rosen & Katz is serving as counsel to IGT and its controlling shareholder De Agostini S.p.A.

Wachtell Lipton’s team representing IGT is led by Nelson O. Fitts and Franco Castelli and Wachtell Lipton’s team representing De Agostini S.p.A. is led by Benjamin M. Roth.