Accel Entertainment to Acquire Grand River Jackpot LLC for $100 Million

Accel Entertainment has agreed to purchase Grand River Jackpot LLC for approximately $100 million in cash. This acquisition is expected to be finalized by the end of September.

By acquiring Grand River Jackpot LLC, Accel will strengthen their position in southern Illinois. The acquisition will see 451 locations with 1893 video game terminals added and the growth rate in these locations is expected to grow 10% by 2021.

Management of Accel say that Grand River Jackpot is a lucrative company, growing at a fast pace and, as such, is a perfect addition to their own geographic footprint in southern Illinois.

“Grand River Jackpot is an attractive and fast-growing company that is a perfect complement to our own geographic footprint in southern Illinois and we look forward to applying our proven operating model to Grand River’s more than 450 locations. The immediately accretive transaction also provides us with more than 1,800 VGTs, enhanced route efficiencies and greater scale as we look to continue to expand into additional markets across the United States.” Andy Rubenstein, CEO of Accel said.

Representatives from Grand River are thrilled about ing the family and the announcement of the acquisition is seen as a natural next step for its evolution. It has long ired Accel and their perfect track record of successful acquisitions and they are confident that the integration will accelerate their growth plans and leverage the many benefits that increased scale brings.

“Today’s announcement with Accel is an exciting and natural next step for the evolution of Grand River. By teaming up with an industry leader like Accel, we are able to immediately accelerate our growth plans and leverage the many benefits that increased scale brings to our owners and customers around the state. Accel is a company we have long ired, with a proven track record of successfully acquiring and integrating companies like Grand River – we could not be more thrilled to become a part of the Accel family,” Gary Hoyer, CEO and President of Grand River said.

More About Accel

The company was founded by business professionals seeking success in the Illinois gaming market. On March 15, 2012, it was granted the Terminal Operator license by the Illinois Gaming Board and on October 9, 2012 the video gaming market officially commenced live operations. The goal of the company is to build long-term business relationships that will be mutually profitable with all of their locations. It believes that putting people before profits is the key to ensure success.

Source:

“Accel Entertainment to Acquire Grand River Jackpot”, Niji Narayan, europeangaming.eu, September 2, 2019.