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Accel Entertainment Inc. has agreed to acquire Grand River Jackpot LLC for approximately $100 million in cash. The acquisition is expected to close by the end of September.
The acquisition will strengthen Accel’s position in southern Illinois by adding 451 locations with 1893 video game terminals, with an expected growth rate in locations of 10% by 2021.
“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.
“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 admired, 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 Jackpot said.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Accel Entertainment to Acquire Grand River Jackpot
