Hector Fernandez Appointed as CEO of Combined ITG/Everi Organization

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In a significant development within the gaming and fintech industries, Hector Fernandez, the outgoing CEO of Aristocrat Gaming, has been appointed as the CEO of the merged enterprise formed by IGT’s Gaming and Digital division and Everi Holdings. This major leadership announcement comes on the heels of Everi’s stockholders approving the merger with Apollo Funds, which included the anticipated acquisition of IGT’s Gaming and Digital businesses.

Hector Fernandez’s Journey from Aristocrat to ITG/Everi

Hector Fernandez brings a wealth of experience and a proven track record of leadership to his new role. Having joined Aristocrat Gaming in 2018, Fernandez rose to the position of CEO in 2022. During his tenure, he spearheaded numerous strategic initiatives, driving Aristocrat’s innovation in gaming technology and strengthening its customer-centric approach.

His move to the combined ITG/Everi enterprise represents a pivotal moment for the industry, as Fernandez’s expertise in scaling operations and fostering strong values will undoubtedly position the company as a leader in gaming, fintech, and digital solutions.

The Strategic Vision for the Combined ITG/Everi Enterprise

The merger of IGT’s Gaming and Digital operations with Everi Holdings creates a diversified platform poised to dominate the gaming and fintech sectors. The combined enterprise will benefit from a robust global footprint and innovative solutions that cater to a dynamic and evolving market.

Apollo Partner Daniel Cohen underscored the importance of Fernandez’s leadership, stating: “Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values. His vision and leadership will ensure a seamless integration of the two companies and foster a people-first culture across the enterprise.”

Interim Leadership and Transition Plan

To ensure a smooth transition, Nick Khin, the current Chief Operating Officer of IGT, will serve as the Interim CEO until Fernandez assumes his role in the fourth quarter of 2025. Khin, with his extensive experience and deep understanding of the gaming industry, is expected to provide stable leadership during this period.

Additionally, the leadership structure of the combined enterprise will include prominent executives who will oversee specific business segments:

Gil Rotem: The current President of IGT PlayDigital will transition to the role of CEO of Digital, bringing his expertise in online gaming and digital platforms.
Darren Simmons: Currently the Executive Vice President and FinTech Business Leader of Everi, Simmons will step into the role of CEO of FinTech, leveraging his extensive experience in financial technology solutions.

These appointments highlight the company’s commitment to maintaining operational excellence and innovation across all divisions.

The Role of Apollo Funds in Shaping the Future

Apollo Funds, a leading global investment firm, has played a crucial role in orchestrating this merger and shaping the strategic direction of the combined enterprise. By uniting the strengths of IGT’s Gaming and Digital businesses with Everi’s capabilities, Apollo aims to establish a platform that sets new standards in customer engagement and operational efficiency.

Apollo’s investment underscores its confidence in the leadership team and the potential of the combined enterprise to achieve sustained growth. Daniel Cohen, Partner at Apollo, expressed optimism about the future, saying: “Under Nick’s interim leadership and with Hector at the helm in 2025, we are confident in the ability of this talented global workforce to drive innovation and deliver unmatched value to customers.”

What This Means for the Gaming and FinTech Industries

The merger between IGT Gaming, IGT Digital, and Everi is set to have a transformative impact on the gaming and fintech landscape. By consolidating resources and expertise, the combined enterprise will:

Enhance Product Offerings: Develop innovative gaming and fintech solutions that address the evolving needs of customers and players.
Strengthen Market Presence: Leverage the combined scale and capabilities to expand market share and influence.
Foster Innovation: Drive advancements in digital gaming and financial technology through increased investment in research and development.
Deliver Operational Excellence: Achieve greater efficiency and effectiveness in meeting customer demands through an integrated approach.

Key Challenges and Opportunities Ahead

While the merger offers significant opportunities, it also presents challenges such as aligning corporate cultures, integrating operations, and navigating regulatory requirements. However, with a visionary leader like Hector Fernandez and a capable leadership team, the combined enterprise is well-positioned to overcome these obstacles and achieve long-term success.

Conclusion: The Appointment

The appointment of Hector Fernandez as CEO of the combined ITG/Everi organization signals the dawn of a new era for the gaming and fintech industries. His leadership, combined with the strategic vision of Apollo Funds and the expertise of the new leadership team, promises to reshape the market and set new benchmarks for innovation and customer engagement.

FAQs About Hector Fernandez’s Appointment and the ITG/Everi Merger

1. Who is Hector Fernandez, and what is his new role?

Hector Fernandez is the outgoing CEO of Aristocrat Gaming, where he served since 2022. He has been appointed as the CEO of the merged enterprise formed by IGT’s Gaming and Digital business with Everi Holdings. He will assume this role in the fourth quarter of 2025.

2. What does the ITG/Everi merger involve?

The merger combines IGT’s Gaming and Digital operations with Everi Holdings, creating a diversified platform in gaming and fintech. It is backed by Apollo Funds, which also facilitated the acquisition of IGT’s Gaming and Digital businesses.

3. What leadership changes will occur due to the merger?

Hector Fernandez will become CEO in late 2025.
Nick Khin, IGT’s COO, will serve as Interim CEO before transitioning to CEO of Gaming.
Gil Rotem, IGT PlayDigital’s President, will become CEO of Digital.
Darren Simmons, Everi’s EVP and FinTech Business Leader, will be CEO of FinTech.

4. Why was Hector Fernandez chosen as CEO?

Fernandez brings extensive experience in scaling operations and fostering customer relationships. Apollo Funds highlighted his strong values, vision, and ability to lead a global workforce, making him the ideal choice to steer the combined enterprise.

5. Who will lead the company during the transition?

Nick Khin will act as Interim CEO until Hector Fernandez officially assumes the role in late 2025. Khin has been instrumental in strengthening IGT’s industry position and is well-equipped to ensure a smooth transition.

6. How will the ITG/Everi merger benefit the gaming and fintech industries?

The merger will:

Enhance product offerings through innovation.
Strengthen market presence by leveraging combined expertise.
Foster advancements in digital gaming and fintech.
Improve operational efficiency and customer engagement.

7. What role does Apollo Funds play in the merger?

Apollo Funds facilitated the merger and acquisition, uniting IGT and Everi’s strengths to create a premier platform. It supports the leadership team and aims to drive innovation and sustained growth in the gaming and fintech sectors.

8. What challenges might the combined enterprise face?

Key challenges include aligning corporate cultures, integrating operations, and meeting regulatory requirements. However, the leadership team, led by Fernandez, is well-prepared to address these challenges.

9. What impact will this merger have on customers and players?

Customers and players can expect enhanced gaming experiences, innovative digital solutions, and improved financial technology services due to the combined enterprise’s focus on innovation and customer-centricity.