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 release date for its second quarter 2024 financial results. The company will disclose its financial and operating results for the quarter ending June 30, 2024, after the market closes on July 30, 2024. Following the release, Accel will host a conference call at 5:00 PM ET / 4:00 PM CT to discuss the results.
Interested parties can join 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. The webcast link and a replay of the call will also be available on Accel's investor relations website.
Accel Entertainment (NYSE: ACEL) is set to acquire Fairmount Holdings, owner of FanDuel Sportsbook & Horse Racing in Collinsville, Illinois, for approximately $35 million in stock. This strategic move expands Accel's presence in the local gaming market, adding the only active horse racing venue in greater St. Louis. The deal includes an Organization Gaming License for casino gaming and a partnership with FanDuel for sports wagering in Illinois.
Key aspects of the acquisition:
- Purchase price: 3.45 million ACEL shares
- Additional investment: $85-$95 million for casino construction and track improvements
- Five-year forecast: $20-$25 million Adjusted EBITDA potential
- Closing expected in Q4 2024, subject to regulatory approvals
This move is seen as a natural adjacency to Accel's route-based gaming expertise, potentially tapping into a $15 billion local gaming market.
Accel Entertainment, Inc. (NYSE: ACEL) reported Q1 2024 operating results with 5.1% increase in locations and 5.6% increase in gaming terminals. Revenues reached $301.8 million, net income decreased by 19.2% to $7.4 million. Adjusted EBITDA rose 0.3% to $46.2 million. Net debt decreased by 7% to $286 million. Accel CEO optimistic about legislative trends, national expansion, and strong balance sheet.
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