Distributed gaming operator Accel Entertainment, Inc. announced the completion of its previously announced transaction to acquire Century Gaming, Inc., one of the other leading distributed gaming operators in the U.S., for $164.2 million in cash and stock, including Century’s working capital.
Century brings to Accel more than 8,300 gaming terminals and over 900 licensed locations across Montana and Nevada, including bars, taverns, truck stops and convenience store groups in both markets. With the closing of this transaction, Accel also adds design and manufacturing operations to its portfolio through Grand Vision Gaming (GVG) as well as Century’s proprietary “i-Rewards” and “Gamblers Bonus” rewards programs.
Century’s executive team, including CEO Steve Arntzen, CFO Heidi Schmalz and GVG Managing Director Merle Frank, will continue to lead as part of the Accel group.
Arntzen commented, “In Accel, we have found an ideal strategic partner, and together we are uniquely positioned to accelerate our growth trajectory as we deliver the latest technological advancements to the gaming market. I am proud to continue to lead our dynamic team and build upon our strong momentum under the Accel banner as we provide our operators and players with attractive locations, the highest-quality products and world-class support for which we are known.”
Macquarie Securities gaming analyst Chad Beynon said the $164.2 million closing price for Century, Nevada’s second-largest slot machine route operator and the largest in Montana, was a solid investment.