International Game Technology has officially named Hector Fernandez as the company’s new CEO, marking the start of a new chapter for the newly combined gaming, digital, and financial technology group. Fernandez takes over the position at a crucial time as the IGT Gaming & Digital business unites with Everi Holdings under a single corporate banner.
IGT Commands Distinct Market Advantages
Based in Las Vegas, the company’s global headquarters, Fernandez boasts an impressive track record spanning over two decades across gaming, consumer goods, and advanced manufacturing. He was previously CEO of Aristocrat Gaming, one of IGT’s global rivals. Under his leadership, the company enjoyed steady revenue growth and expanding market share.
IGT’s board noted that the appointment should significantly bolster the company’s leadership team following the merger backed by private equity firm Apollo. The newly formed company now boasts an extensive portfolio, covering gaming machines, digital casino content, sports betting, financial transaction systems, and player engagement tools. This variety makes IGT one of the most diversified suppliers in the global gambling technology market.
IGT’s diverse product range remains one of its primary strengths. The company recently announced that its two leading games, Wheel of Fortune and Megabucks, paid out more than $6 million in jackpots in September alone. These legacy brands, combined with Everi’s payments and loyalty platforms, underpin IGT’s drive to provide industry-leading solutions.
Hernandez Has a History of Success
In his first public comments as CEO, Fernandez was optimistic regarding the company’s prospects, emphasizing its scale and the opportunities created by the merger. He noted that the business was perfectly positioned to refine its product development, customer delivery, and internal culture, drawing from the combined skills of the legacy IGT and Everi teams.
We have an opportunity to evolve how we operate, innovate, and deliver for our customers. I’m looking forward to working with our teams around the world to define what’s next for IGT.
Hector Fernandez, IGT CEO
Fernandez’s path to this prestigious position took him through the technology and consumer goods sectors. Before joining Aristocrat in 2018 as CFO for the Americas, he was a top finance executive at Western Digital and Procter & Gamble. Daniel Cohen, a partner at Apollo and chair of IGT’s board, expected Fernandez’s leadership to accelerate growth and deepen product innovation.
Hector shares our commitment to fostering a high-performing, people-first culture, and we are confident he will lead this team to new heights.
Daniel Cohen, partner at Apollo and chair of IGT’s Board of Directors
The leadership change formalizes a transition that began earlier this year. Nick Khin, serving as acting enterprise CEO and head of the Gaming business unit, will step away from day-to-day operations. He was instrumental in steering IGT through a challenging transition period and ensuring stability during the merger process. As for Fernandez, regulatory approvals remain the final hurdle before he takes control of the merged company and begins to implement his vision.