Because of a non-compete agreement, newest IGT executive won’t be able to start until late 2025, but global gaming president Khim to take job in the interim.
The former CEO of Aristocrat Gaming will head the new International Game Technology entity to be based in Las Vegas.
Hector Fernandez, who oversaw Aristocrat Leisure Ltd.’s global land-based gaming content and technology business, will take the reins of the Apollo Global Management Inc.-controlled IGT enterprise that is blending with Las Vegas-based Everi Holdings Inc.
Fernandez will take the CEO role in the fourth quarter of 2025 when a non-compete period ends. In the meantime, Nick Khin, president of global gaming at IGT in Las Vegas, will serve as CEO until Fernandez takes over.
“We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise,” Apollo partner Daniel Cohen said in announcing the appointment Thursday.
“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,” Cohen said. “Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.”
$6.3 billion deal
In February, IGT and Everi announced the $6.2 billion merger of the two gaming equipment manufacturers. Five months later, in July, affiliates of Apollo announced they were absorbing both companies for $6.3 billion. That deal is on track to close by the third quarter of 2025. Everi shareholders approved the transaction Nov. 14.
London-based IGT, run mostly by Italian administrators, spun off the gaming, digital and financial services portions of the business and will keep the company’s lottery division under a new name.
“I couldn’t be more excited to be part of this journey with IGT Gaming and Everi,” Fernandez said after the appointment. “I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”
Based in Las Vegas
When he takes the CEO role, Fernandez will be based in Las Vegas.
In addition to Khin taking the temporary CEO role, Gil Rotem, the current president of IGT PlayDigital, will serve as CEO of Digital, and Darren Simmons, executive vice president and FinTech Business leader at Everi, will serve as CEO of FinTech.
Khin has been the local voice for IGT in Las Vegas and has coordinated the company’s presence at the Global Gaming Expo for years.
“I believe in the tremendous potential of IGT Gaming and Everi as a combined enterprise, and I am honored to serve as interim CEO once the transactions are completed,” Khin said. “I look forward to working alongside Hector, Gil and Darren, and utilizing the opportunities we have in front of us to generate content-rich experiences and deliver unmatched value to our customers.”
Cohen has confidence in Khin as well.
“We’re 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,” Cohen said.
“Under Nick’s leadership, IGT has meaningfully improved its industry position and continues to release top performing games across channels. 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.”
