Accel Entertainment, Inc. has closed a significant $900 million senior secured credit facility, comprising a $300 million revolving credit facility and a $600 million term loan, each with a five-year term. This financing has been used to fully repay and terminate all outstanding commitments under Accel's existing senior secured credit agreement.
The CEO, Andy Rubenstein, emphasized the positive impact of this financing, noting that it enhances the company's liquidity profile while reducing its cost of capital for the future. This positions Accel to continue investing in its distributed gaming operations, Fairmount Park Casino & Racing, and targeted growth opportunities, while maintaining a strong balance sheet to focus on enhancing shareholder value.
The credit facility involved a syndicated group of banks, with CIBC Bank USA acting as the administrative agent and lead arranger. Fifth Third Bank, National Association, JPMorgan Chase Bank, N.A., U.S. Bank National Association, and Truist Securities, Inc. served as joint lead arrangers, and Bank of America, N.A. served as documentation agent.
Accel Entertainment, Inc. is a growing provider of locals-focused gaming and one of the largest terminal operators in the United States, supporting over 27,000 electronic gaming terminals in over 4,400 third-party local and regional establishments, along with 20 self-operated gaming locations across ten states. The company also owns and operates a racino venue, Fairmount Park * Casino & Racing, which opened in April 2025 and features over 270 electronic gaming machines, food and beverage amenities, a sportsbook, pari-mutuel betting, and 55 days of thoroughbred horse racing annually. Following these announcements, the company's shares moved -2.37%, and are now trading at a price of $11.13. For more information, read the company's full 8-K submission here.
