International Game Technology Gaming & Digital Business and Everi
PE-OWNED
Acquired by Apollo Global
What PE Will Likely Do
Slot machine hardware quality degradation: cheaper LCD panels, reduced haptic feedback precision, less durable button mechanisms, and shorter warranty periods on gaming devices
Software platform cost-cutting: delayed security patches, reduced RNG (random number generator) certification frequency, deferred server infrastructure upgrades leading to slower game load times and more frequent downtime
Game content reduction: smaller development teams for new titles, increased reliance on licensed IP over original content, longer gaps between new game releases, removal of niche or lower-margin game variants
Player rewards program degradation: reduced comp point accumulation rates, higher thresholds for tier status, elimination of personalized offers, longer response times for player support inquiries
Cash handling and ATM service reduction at Everi units: slower maintenance response for jackpot payouts, reduced cash availability windows, deferred hardware updates leading to more frequent bill acceptor failures
Expected Timeline
“0 to 6 months months”
Announcements about 'digital transformation' and 'operational excellence'; early voluntary departures of senior game designers and platform engineers; quiet reduction in new game greenlights
“6 to 12 months months”
First wave of layoffs in R&D and customer success teams; slot machine production line consolidation; announced 'sunsetting' of older game titles; slower jackpot verification times begin
“12 to 24 months months”
Noticeable increase in slot machine downtime at casinos; game graphics and audio quality visibly dated versus competitors; player complaints about reward program changes spike; Everi cash service delays become systemic
What You Can Do
Actions
Casino players: Document current jackpot payout speeds and machine uptime now; expect degradation and escalate complaints to casino management when service declines
Online gaming users: Screenshot current rewards tier benefits and redemption rates; monitor for unannounced program changes that reduce value
Casino operators (IGT/Everi customers): Negotiate service level agreements with penalty clauses NOW before Apollo ownership transfer completes; lock in multi-year maintenance contracts at current staffing levels
Regulators and responsible gaming advocates: Increase audit frequency of RNG certifications and responsible gaming feature functionality; Apollo's cost-cutting history suggests these are vulnerable areas
Game developers and engineers at IGT/Everi: Document institutional knowledge and consider exit timing; PE ownership typically targets R&D headcount within 12 months
Alternatives
Look for family-owned or employee-owned businesses