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As the gaming equipment industry undergoes major consolidation, the future direction of market leaders like IGT remains uncertain.Providence TodayGaming equipment manufacturer IGT has announced 700 global layoffs, about 10% of its workforce, as it aligns resources with business priorities and streamlines operations following its merger with Everi Holdings. Analysts say the downsizing was expected due to position overlaps, but the delay between the merger announcement and deal closing may have allowed competitors to gain market share during the uncertainty.
Why it matters
The layoffs at IGT, a major player in the gaming equipment industry, reflect broader changes and consolidation happening in the sector. As the industry evolves, it’s important to understand how these shifts may impact IGT’s operations in Nevada, a key gaming market, and whether competitors will be able to capitalize on the uncertainty.
The details
IGT CEO Hector Fernandez said the layoffs are required to align resources with business priorities and streamline operations following the company’s merger with Everi Holdings. Analysts say the downsizing was primarily due to overlapping positions between the two companies. The delay between the merger announcement and the deal closing may have also allowed competitors to gain market share during the uncertainty.
- In February 2025, IGT and Everi Holdings announced their merger.
- In July 2025, Apollo Global Management announced it was acquiring both IGT and Everi Holdings for $6.3 billion.
- On March 23, 2026, IGT CEO Hector Fernandez announced the 700 global layoffs, about 10% of the company’s workforce.
The players
IGT
A global gaming equipment manufacturing company that develops and supplies slot machines, cabinets, casino operating systems, and financial technology solutions for gaming operators.
Everi Holdings
A Las Vegas-based gaming equipment and payment solutions provider that merged with IGT in 2025.
Apollo Global Management
A private equity firm that acquired IGT and Everi Holdings in a $6.3 billion deal in 2025.
Hector Fernandez
The CEO of IGT who announced the 700 global layoffs in March 2026.
Phil Bernard
An analyst with California-based Eilers & Krejcik who commented on the IGT layoffs.
What they’re saying
“It makes sense, although it’s always a tough decision. I would also say the delay between the merger announcement and the deal closing was a bigger opportunity for competitors to gain share due to the uncertainty over the future direction of the company.”
— Phil Bernard, Analyst, Eilers & Krejcik
“When we met in December for our first companywide town hall since I started as incoming CEO, I said we would move quickly to evaluate our business and make decisions to strengthen it. Over the past several months, we have kept that commitment. We examined where we focus, how we operate, and how our structure supports our strategy.”
— Hector Fernandez, CEO, IGT
What’s next
Analysts will continue to monitor how the layoffs and industry changes impact IGT’s operations in Nevada, as well as whether competitors are able to capitalize on the uncertainty and gain market share.
The takeaway
The gaming equipment manufacturing industry is undergoing significant consolidation and restructuring, with IGT’s layoffs reflecting the need for companies to align resources and streamline operations. As the industry evolves, it will be important to see how these changes impact key markets like Nevada and whether competitors can seize opportunities created by the uncertainty.