Accel Entertainment, Inc. ACEL

Company Overview

Accel Entertainment, Inc. is a publicly traded distributed gaming operator in the United States, primarily engaged in the installation, operation, and management of electronic gaming terminals in licensed, non-casino locations. The company operates within the distributed gaming, route-based gaming, and amusement and entertainment services industries, with revenue primarily generated from gaming terminals placed in bars, restaurants, truck stops, and other local establishments. Accel’s business model centers on long-term partnerships with location owners, where gaming revenue is shared between Accel, the location, and the applicable state or local authority.

The company’s core revenue drivers include video gaming terminals (VGTs), redemption amusement devices, and related service and maintenance contracts. Accel primarily serves small- and mid-sized hospitality businesses, positioning itself as a full-service operator that manages regulatory compliance, equipment procurement, installation, and ongoing maintenance. A key strategic advantage is its scale in regulated distributed gaming markets, particularly Illinois, where it is the largest operator by terminal count. Accel was founded in 2012 and expanded rapidly through acquisitions and organic growth, culminating in its public listing in 2020 following a merger with a special purpose acquisition company.