In 2024, the Gaming sector’s M&A landscape experienced a notable resurgence with 244 deals seen, up 19% compared to 2023 levels. There was significant demand from strategic and financial buyers with Private Equity firms representing the acquirer in 33 of these deals.  

Total disclosed deal values reached $19B in 2024, up 14% on an annual basis, and 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 $6.3 billion in total stand out as some of the largest deals of the year. 

In 2024, top buyers included entertainment company Infinite Reality and Indian publisher Oneverse with 4 deals each, followed by gaming developer Draftkings and video game publisher Reforged Studios with 3 deals each.  

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