Accel Entertainment Secures $900 Million Credit Facility to Expand Gaming Operations

Accel Entertainment (NYSE: ACEL), a major provider of locals-focused gaming and one of the largest terminal operators in the United States, has entered into a $900 million senior secured credit facility. The financing consists of a $300 million revolving credit facility and a $600 million term loan, both with five-year terms. Initial borrowings from the credit facility were used to repay in full and terminate all outstanding commitments under Accel's existing senior secured credit agreement.

This restructuring enhances the company's liquidity profile while reducing its cost of capital for the coming years. Accel Entertainment CEO Andy Rubenstein stated that this new facility positions the company to continue investing in its distributed gaming operations, Fairmount Park Casino & Racing, and targeted growth opportunities while maintaining a strong balance sheet. The financing supports the company's focus on enhancing shareholder value through strategic expansion.

The credit facility involves a syndicated group of banks with CIBC Bank USA acting as the Administrative Agent and Lead Arranger. Other participating institutions include Fifth Third Bank, National Association, JPMorgan Chase Bank, N.A., U.S. Bank National Association, and Truist Securities, Inc. as Joint Lead Arrangers, with Bank of America, N.A. serving as Documentation Agent.

This substantial financing arrangement provides Accel with the financial flexibility to expand its gaming operations across its network of more than 27,000 electronic gaming terminals in over 4,400 third-party establishments and 20 self-operated gaming locations spanning ten states. The company's business model focuses on serving licensed non-casino locations through exclusive long-term contracts, including bars, restaurants, convenience stores, truck stops, gaming cafes, and fraternal and veteran establishments.

The funding will support Accel's comprehensive gaming solution that encompasses manufacturing, content, payments, loyalty programs, 24/7 customer service, data analysis, reporting, and cash logistics. Additionally, the financing will contribute to the development of the company's racino venue, Fairmount Park – Casino & Racing, which features over 270 electronic gaming machines, food and beverage amenities, a sports book, pari-mutuel betting, and thoroughbred horse racing.

This significant capital infusion demonstrates institutional confidence in Accel's business model and growth strategy within the distributed gaming sector. The improved financial position enables the company to accelerate expansion plans, potentially increasing market share and strengthening its competitive position across multiple states. For industry observers, this financing signals continued growth potential in the locals-focused gaming market, particularly through non-traditional gaming venues that serve community-based establishments.