11:27 AM EDT, 07/01/2025 (MT Newswires) -- (Updates with additional details from International Game Technology ( IGT ) from the fifth paragraph.)

Apollo Global Management ( APO ) said Tuesday it completed its $6.30 billion acquisition of International Game Technology's ( IGT ) gaming and digital business, and Everi ( EVRI ) .

The combined business will operate under the IGT name and retain the Everi brand in select markets and product lines, Apollo said.

Apollo reiterated that Hector Fernandez would assume the role of chief executive of IGT in Q4, while Interim Chief Executive Nick Khin will transition into the role of CEO of IGT's gaming business unit.

Everi ( EVRI ) stockholders are receiving $14.25 per share in cash, and International Game Technology ( IGT ) is receiving $4.05 billion in cash, Apollo said, adding Everi's ( EVRI ) stock has been delisted from the New York Stock Exchange.

IGT, doing business as Brightstar Lottery, will begin trading on the NYSE under the name Brightstar Lottery and the new ticker symbol BRSL, starting Wednesday, IGT said.

IGT said it will allocate $4 billion in net cash proceeds toward debt reduction, shareholder returns, and strategic needs.

About $2 billion will go toward repaying existing debt, while $1.1 billion will be returned to shareholders through a $3 per share special dividend and a new $500 million share repurchase program. The dividend will be paid on July 29 to holders of record on July 14.

Another $500 million will help fund Italy Lotto license payments, and $400 million is set aside for general corporate purposes, IGT said.

Shares of Apollo fell 1.1% in recent trading, while IGT rose 3.9%.

Price: 140.38, Change: -1.50, Percent Change: -1.05