International Game Technology Plc (IGT) has announced that Hector Fernandez (pictured) has officially joined the company as its new chief executive.
Mr Fernandez was announced in December 2024 as the CEO pick for the combined enterprise formed by casino technology supplier Everi Holdings Inc and the gaming and digital content business of IGT.
The businesses were acquired by funds linked to private equity firm Apollo Global Management Inc, an operation completed in July.
The executive had to complete a non-compete period, following his resignation as CEO of the land-based gaming segment of slot machine maker and digital content provider Aristocrat Leisure Ltd.
Mr Fernandez “brings a strong track record of success in gaming and technology to his role at IGT, having most recently served as CEO of one of IGT’s global competitors,” said a Wednesday announcement.
It added: “Over the course of his career, Fernandez has been recognised for his leadership role in strategic initiatives that propelled market share, revenue growth and increased profitability.”
The update said he would be based at IGT’s global headquarters in Las Vegas, Nevada in the United States.
The release cited Mr Fernandez saying he was “honoured and excited” to lead IGT.
“This is a company with strong talent, deep industry relationships, and significant potential. As we bring together the legacy IGT and Everi teams, in partnership with Apollo, we have an opportunity to evolve how we operate, innovate, and deliver for our customers,” he added.
IGT also announced on Wednesday that Nick Khin, who until now served as interim group CEO and CEO of the gaming business unit, will be stepping down from his position with the company.
Mr Khin will assume a role as a “strategic advisor to the senior leadership team and board of directors,” stated the firm.
Mr Fernandez will assume the role of CEO of the combined enterprise and oversee the gaming business unit, “following receipt of regulatory approvals,” added the company.
IGT’s digital business unit will continue to be led by Gil Rotem, while Darren Simmons will continue to lead the group’s FinTech business unit.
Daniel Cohen, partner at Apollo and chair of IGT’s board, said in prepared remarks: “Led by Hector and a talented team of leaders from across the legacy IGT gaming and digital and Everi businesses, as well as key new hires … we believe the combined enterprise will accelerate growth, enhance product and content innovation, and become an even stronger partner to its customers.”