SBC News Voice of the Sports Betting Industry
Hector Fernandez has been named CEO of Apollo – the holding company formed to acquire IGT’s Gaming & Digital Business and Everi Holdings.
Set to join the combined enterprise in Q4 2024, the news comes after Everi’s stockholders voted in favour of a merger with Apollo Funds last month, which also includes the expected acquisition of IGT’s Gaming and Digital business.
Daniel Cohen, Partner at Apollo, said: “We are thrilled to name Hector Fernandez as the future CEO of the combined enterprise.
“As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and FinTech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values.
“Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.”
The brand also applauded Fernandez’s diverse experience, both inside and outside of the gaming industry, which is expected to position him well to integrate and lead the two gaming platforms.
“I couldn’t be more excited to be part of this journey with IGT Gaming and Everi,” added Fernandez on his new role. “I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”
Following the transaction close, Nick Khin, President of Global Gaming at IGT, will lead the combined enterprise as Interim CEO until Fernandez assumes the CEO role.
Following closing, the combined enterprise will be organised into three business units: Gaming, Digital, and FinTech. Upon Fernandez joining the combined enterprise, Khin will step into the newly formed role of CEO of Gaming and will oversee the land-based gaming businesses of the combined enterprise.
Gil Rotem, current President of IGT PlayDigital, will serve as CEO of Digital, and Darren Simmons, current Executive Vice President and FinTech Business Leader at Everi, will serve as CEO of FinTech.
We are excited for Nick to take on the additional responsibility of Interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins,” continued Cohen.
“We believe his deep understanding of customers and players, as well as his leadership and passion, will help set the foundation for future success.
“We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise.”
