Welcome to our dedicated page for Accel Entertainment news (Ticker: ACEL), a resource for investors and traders seeking the latest updates and insights on Accel Entertainment stock.
Overview of Accel Entertainment Inc
Accel Entertainment Inc is a well-established provider in the distributed gaming and local entertainment space. Specializing in gaming terminals and video gaming solutions, the company operates across the United States by installing, maintaining, and servicing a broad variety of gaming equipment. With its license as a terminal operator granted by the Illinois Gaming Board, Accel Entertainment has developed a reputation for integrity, technical excellence, and industry expertise.
Core Business Operations
The company is engaged in several key areas:
- Distributed Gaming: Accel Entertainment installs and maintains gaming terminals in various non-casino venues such as restaurants, bars, taverns, convenience stores, and grocery outlets, providing a unique gaming experience that combines entertainment with everyday consumer activity.
- Amusement Devices: The firm offers high-quality amusement devices that are designed to entertain and engage customers in authorized locations, thus broadening its appeal beyond traditional gaming.
- Financial Solutions: In addition to gaming, the company operates stand-alone automated teller machines (ATMs) in both gaming and non-gaming environments, offering integrated services that enhance customer convenience and operational versatility.
- Maintenance and Support: A critical component of its operations is the maintenance and servicing of gaming equipment, ensuring that all installations are safe, functioning at optimal levels, and compliant with regulatory standards.
Accel Entertainment (NYSE: ACEL) has announced the soft opening of its first Illinois casino, Fairmount Park Casino & Racing, scheduled for April 18, 2025. The 12,000 sq. ft. venue features modern slots and electronic table games, marking Accel's strategic entry into the locals racino market.
The facility, located at 9301 Collinsville Rd., will commence its racing season on April 22, 2025. The venue has undergone significant improvements, including new concessions and enhanced racing infrastructure. Notably, Fairmount Park is partnering with Fifty/50 Hospitality Group to expand its food and beverage offerings, including three new concessions and a full-service restaurant opening in June.
The opening coincides with the racetrack's 100th anniversary, representing a milestone in Fairmount Park's history. The project was completed in less than 5 months with support from the Illinois Racing Board, Illinois Gaming Board, and City of Collinsville officials.
Accel Entertainment (NYSE: ACEL) has appointed gaming industry veteran Cheryl Kondra to its Board of Directors, effective immediately. Kondra, who brings over 20 years of experience in audit and compliance from companies like Caesars Entertainment, Genting Americas, and Pinnacle Entertainment, will serve as Chair of the board's Audit Committee.
Currently VP of Internal Audit at Tractor Supply Company, Kondra previously strengthened audit and compliance systems at Pinnacle Entertainment and spent 17 years at Caesars Entertainment, including seven years as Chief Audit Executive. She also serves on the Board of Directors of Galaxy Gaming.
The appointment coincides with Eden Godsoe's decision not to seek re-election to the Board. Additionally, Accel is implementing governance changes, including transitioning from three-year to one-year Board terms to enhance shareholder value.
Accel Entertainment (NYSE: ACEL) has appointed Scott Levin as Chief Legal Officer and Secretary, effective immediately. Levin brings over 30 years of experience as an executive and senior legal advisor for high-growth companies. He will oversee all legal affairs and report to CEO Andy Rubenstein.
Levin's previous roles include serving as CEO of FTD Companies and as the first General Counsel for Morton's Restaurant Group. Most recently, he was Founder and Managing Director of Portco Advisors As part of this organizational change, Derek Harmer, current General Counsel and Chief Compliance Officer, will transition to become Accel's first dedicated Chief Compliance Officer.
Accel Entertainment is the largest terminal operator in the United States, supporting over 26,000 gaming terminals across 4,300 establishments in ten states. The company provides gaming solutions to bars, restaurants, convenience stores, and fraternal establishments, while also developing brick-and-mortar racinos and casinos.
Accel Entertainment (NYSE: ACEL) reported mixed Q4 2024 financial results with record revenues but declining profits. Q4 revenue reached $317.5 million, up 6.9% year-over-year, while full-year 2024 revenue hit $1.2 billion, a 5.2% increase.
However, Q4 net income declined 47.5% to $8.4 million, and full-year net income fell 22.6% to $35.3 million. The company expanded its operations, growing to 4,117 locations (+3.9%) and 26,346 gaming terminals (+5.0%). Notable Q4 developments include the acquisition of Toucan Gaming in Louisiana and FanDuel Sportsbook & Horse Racing in Illinois.
The Board approved replenishing the share repurchase program back to $200 million, following previous purchases of 13.8 million shares for $143.6 million. Net debt increased 11.8% to $314 million compared to Q4 2023.
Accel Entertainment (NYSE: ACEL) has scheduled the release of its fourth quarter and full year 2024 financial and operating results after market close on February 27, 2025. The company will host a conference call at 5:30 PM ET / 4:30 PM CT on the same day to discuss the results.
Interested participants can join the live webcast by registering through the provided link. Pre-registration will give listeners access to a personalized webcast view and individual dial-in details. Both the live webcast link and post-call replay will be available on Accel's investor relations website.
Accel Entertainment (NYSE: ACEL) has successfully acquired Fairmount Holdings, owner of FanDuel Sportsbook & Racetrack in Collinsville, Illinois, for 3.45 million ACEL shares. The acquisition includes the only active horse racing venue in the greater St. Louis area, with 55 annual race days and a casino gaming license. Fairmount generated $29 million in revenue in 2023. Accel plans to invest $85-95 million for casino construction and track improvements, projecting $20-25 million in Adjusted EBITDA within five years. The Phase I casino opening is targeted for Q2 2025.
Accel Entertainment (NYSE: ACEL) has acquired 85% ownership of Toucan Gaming and LSM Gaming for approximately $40 million. The Louisiana-based route operators will operate as Toucan Gaming, led by Stan Guidroz who retains 15% ownership. The business is expected to generate $25 million in revenue and $6 million in Adjusted EBITDA by 2025. The acquisition adds 13 truck stop locations with 450 terminals and 60 3-machine locations with 180 terminals, expanding Accel's presence in the southeastern United States.
Accel Entertainment (NYSE: ACEL) reported Q3 2024 financial results with record revenues of $302.2 million, up 5.1% year-over-year. The company expanded its presence to 4,014 locations (+2.8%) and 25,729 gaming terminals (+4.1%). However, net income decreased 53.2% to $4.9 million, partly due to higher losses on contingent earnout shares. Adjusted EBITDA grew 3.9% to $45.9 million. The company's net debt increased 2.4% to $289 million. Two significant acquisitions are expected to close in Q4 2024: a Louisiana distributed gaming operator and the FanDuel Sportsbook & Horse Racing in Collinsville, Illinois.
Accel Entertainment, Inc. (NYSE: ACEL) has announced the upcoming release of its financial and operating results for the third quarter ended September 30, 2024. The company will disclose these results after market close on October 30, 2024. Following the release, Accel will host a conference call at 5:30 PM ET / 4:30 PM CT on the same day to discuss the quarterly performance.
Interested parties can participate in the live webcast by registering in advance at the provided link. This registration will offer a personalized link to view the webcast and an individual dial-in for the call. Both the live webcast link and a replay of the call will be available on Accel's investor relations website.
Accel Entertainment (NYSE: ACEL) reported strong Q2 2024 results, showcasing growth across key metrics. The company achieved record revenues of $309.4 million, up 5.7% year-over-year, and a 46.1% increase in net income to $14.6 million. Adjusted EBITDA reached a record $49.7 million, up 6.5% from Q2 2023. ACEL expanded its footprint, ending Q2 with 4,034 locations (up 4.7%) and 25,757 gaming terminals (up 5.7%). The company also announced the acquisition of Fairmount Holdings, owner of FanDuel Sportsbook & Horse Racing, expected to close in Q4 2024. Despite these positive results, net debt increased by 9% to $311 million compared to Q2 2023.
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