During the first nine months of 2024, the Gaming sector’s M&A landscape continued to thrive, with approximately 189 deals reported during this period. This marked an ongoing recovery in the Gaming sector as strategic consolidations picked up. There was significant activity from both private equity firms and strategic buyers.  

Total disclosed deal values surpassed $17.5B by the third quarter of 2024. This figure highlights an ongoing recovery and growth in deal activity compared to the previous year. A significant portion of this value came from larger deals, with private equity playing a key role. Notably, Apollo’s acquisition of IGT’s gaming business and Everi Holding for $5.3 billion in total stands out as some of the largest deals of the year. 

In 2024, top buyers included Indian publisher Oneverse and gaming developer Draftkings with 3 deals each followed by newly formed UK-based global multimedia entertainment company, OV Entertainment and PE firm Apollo with 2 deals each. 

After peaking in 2021, venture capital investment in the Gaming sector remained subdued through Q3 2024. Companies are instead encouraged to turn to M&A strategies for growth and liquidity.