2024-03-19 10:47:49 ET
Summary
- The article analyzes the valuations used for Everi Holdings (EVRI) and IGT's Global Gaming and Play Digital businesses in their recent combination deal.
- Under a detailed set of assumptions, the valuation terms of the deal seem to materially disadvantage EVRI's relative valuation.
- Even under the agreed valuations and available information on debt coming from each side of the deal, the allocation of the combined entity between EVRI & IGT does not add-up.
The objective of this article is to analyze the transaction announced on February the 29th between EVERI Holdings Inc. ( EVRI ) and IGT's Global Gaming and Play Digital businesses focusing on the valuations used for both operations and trying to contrast those estimates with all the available information for each of the businesses that take part in this deal....
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For further details see:
Everi Holdings: Combination Terms Do Not Seem To Make Sense For Shareholders