Hector Fernandez Becomes New CEO of IGT/Everi

The former CEO of Aristocrat Gaming, Hector Fernandez, has stepped down as CEO of the famous slot game supplier and will have a new role in the combined enterprise formed by Apollo Global Management as CEO of IGT’s gaming division and Everi Holdings Inc. as part of their goal to bolster their ranks and become one of the best online casinos in the world.

In a recent press release from Apollo, they tapped Fernandez to oversee the operations of IGT and Everi Holdings, citing his experience when it came to the ins and outs of the gaming industry:

“Mr. Fernandez brings a clear track record of success across technology and gaming as well as deep strategic and financial expertise. His diverse experience both inside and outside of the gaming industry is expected to position him well to integrate and lead two highly complementary gaming platforms following the transaction close with a focus on growth, product innovation and content generation.” 

Fernandez’s Skills Prove to be a Fit for Apollo Global Management

Fernandez’s role as CEO of Aristocrat Gaming, Aristocrat Leisure Limited’s global land-based gaming content and technology business, saw him devise and lead a number of strategic initiatives that equated to noteworthy gains in market share across multiple verticals while delivering strong revenue growth and increased profitability.  

Apollo Global Management is counting on Fernandez to do the same as far as making an impact in the online real money casino market with IGT and Everi Holdings.

Daniel Cohen, Partner at Apollo, was thrilled to have Fernandez as the future CEO of the combined enterprise, since Fernandez’s knowledge and acumen of scaling operations and strengthening customer relationships are the goals they are aiming to achieve,

“We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise. 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 shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise,” Cohen added.

Fernandez carries with him experience in overseeing the end-to-end delivery of Aristocrat’s global land-based business in over 300 gaming jurisdictions. Prior to the role of CEO, Hector served as President of the Americas and EMEA from June 2019 to March 2022, where he oversaw the majority of the segment’s operations, as well as the Chief Financial Officer for the Americas for Aristocrat from November 2018 to June 2019.

When Will Fernandez Start with His CEO Duties?

In his speech, Fernandez stated that he couldn’t be more excited to be part of this journey with IGT Gaming and Everi, 

“I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”

Fernandez will join the combined enterprise by the fourth quarter of 2025 after expiration of a customary non-compete period. Moreover, following the transaction close, Nick Khin, President, Global Gaming at IGT, will lead the combined enterprise as Interim CEO until Mr. Fernandez assumes the CEO role.

Who Will be IGT’s New CEO?

Following Fernandez’s exit, IGT has announced that Craig Toner, their Gaming Chief Financial Officer, has been appointed to the CEO position effective immediately.

Toner has been with Aristocrat for more than seven years. His previous experience saw him working in the alcohol and beverages business Lion in Australia for almost 20 years.

Trevor Croker, CEO of the parent company Aristocrat Leisure Limited, noted that Toner is the perfect candidate to take the CEO position,

“Craig will ensure a seamless leadership transition, maintaining a relentless customer focus and continuing to execute our plans,”

Upon his appointment, Toner articulated a clear vision for the future of Aristocrat. He emphasized the importance of innovation and customer-centric product development, 

“As we look ahead, our focus will remain on leading the market through continuous innovation and by delivering exceptional gaming experiences that meet the evolving needs of our customers.”

Toner also stressed the importance of adaptive strategy in the rapidly changing gaming landscape, indicating that Aristocrat will continue to explore emerging technologies and new market opportunities under his leadership.

Croker also thanked the outgoing Fernandez for his commitment and contributions to the Aristocrat business over the last six years.

What’s Next for the Two Companies?

With IGT/Everi and Aristocrat having new CEOs, the direction of both companies will be on Fernandez and Toner, respectively.

IGT/Everi is a recently minted enterprise, and their goal is to be a global leader in gaming. They have extensive knowledge and experience when it comes to delivering entertaining and responsible gaming experiences for players across all channels and regulated businesses, from Lotteries and Gaming Machines to Sports Betting and Digital.

Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth.

Meanwhile, given that Toner stressed about the importance of adaptive strategy in the face of an ever-evolving gaming landscape, they might consider new ventures in the crypto casino market.

Only time will tell, however, if any of the two companies will steer in that direction.