The gaming industry in Nevada is poised for a significant boost as International Game Technology (IGT) makes a grand return to its roots. The recent announcement of IGT’s merger with Las Vegas-based Everi Holdings Inc. marks a new chapter in Nevada’s gaming manufacturing sector. This $6.2 billion deal is not just a homecoming for IGT but a potential catalyst for economic growth and innovation in the state’s gaming landscape.
Founded by the legendary Si Redd in 1990, IGT became synonymous with Nevada’s rise as a gaming powerhouse, particularly known for its video poker games and slot machines. The acquisition of IGT by a group of Italian lottery company executives in 2014, under the name Gtech Holdings, was a turning point that saw the company’s headquarters move to London. However, the latest development signals a return to form, with the newly formed company set to base its management operations in Las Vegas and its primary manufacturing location in Reno, where it all began.
The merger is expected to close by late this year or early 2025, with Vince Sadusky retaining his role as CEO and Michael Rumbolz of Everi becoming the chairman of the new company’s board of directors. The deal not only brings back a storied name to the Silver State but also promises to enhance Nevada’s profile as a leader in gaming manufacturing.
The implications of this merger extend beyond the rebranding of a company. It represents a strategic alignment of IGT’s slot machine division and digital gaming operations with Everi’s gaming and financial technology divisions. This synergy is anticipated to create a more comprehensive portfolio of products and services, catering to the evolving needs of the casino industry.
As Nevada welcomes IGT back into its fold, the state stands to benefit from the infusion of new technologies, job creation, and a reinforced global reputation in gaming manufacturing. The move also underscores the importance of nurturing homegrown industries and the positive outcomes that can arise from strategic corporate decisions.
The return of IGT to Nevada is a testament to the enduring legacy of the state’s gaming industry and its capacity for renewal and growth. It’s a story of coming full circle, of a company returning to its origins, ready to shape the future of gaming once again.
