Addisons has provided Australian gambling regulatory advice to Apollo Funds on its acquisition of International Game Technology’s (IGT) Gaming & Digital Business and Everi.
The deal was valued at approximately USD$6.3 billion, and has integrated the two businesses under the IGT brand to form a global leader in gaming, digital and financial technology solutions.
Addisons was delighted to act as legal advisers to Apollo, advising on the Gaming and Gambling Regulatory aspects of the transaction across all Australian jurisdictions.
The Addisons team was led by Partner Jamie Nettleton, with Solicitor Jessenia Prado-Banton. Also assisting from Addisons were Partner David Stammers, Special Counsel Dennis Mak and Senior Foreign Lawyer Samuel Gauci, Solicitor Daniel Kangisser and Graduate Jak Yasuda.
Addisons Partner Jamie Nettleton said, “Addisons is pleased to have worked with Apollo to obtain all necessary Australian gambling approvals in the context of a complex private equity transaction in the gambling sector with a global team of regulatory lawyers. This involved ensuring that all Australian regulators understood the proposed private equity investment structure which is not contemplated expressly in Australia’s gambling laws.”