Accel Entertainment to acquire Century Gaming Technologies

(PRESS RELEASE) -- Accel Entertainment, Inc., a leading distributed gaming operator in the U.S., today announced further expansion into new geographical markets by entering into an agreement to acquire Century Gaming, Inc., one of the leading distributed gaming operators in the Western United States, in a cash and stock transaction valued at $140 million. Each company’s Board of Directors unanimously approved the transaction which is expected to close by the end of 2021, subject to the satisfaction of customary closing conditions, including regulatory approvals from applicable gaming authorities. The transaction is expected to be funded through a combination of Accel’s cash on hand, borrowing under its existing credit facility and Accel stock.

With over 60 years of experience, Century is Montana’s largest gaming operator and a leader in the Nevada gaming market. Serving over 900 locations including bars and taverns, convenience store groups and small casinos in both markets, Century is also known for its popular “Gamblers Bonus” player rewards platform and “i-Rewards” customer relationship management system.

Highlights of the transaction include:

- A business that is expected to generate approximately $220 million of revenue in 2021;

- Expansion of Accel’s operations into the Western United States, adding more than 900 licensed establishments and more than 8,500 gaming terminals across Montana and Nevada;

- Addition of new technology to Accel’s portfolio including:

• Grand Vision Gaming (“GVG”), a leading video gaming technology designer and manufacturer with an established installed game base in Montana, South Dakota, Louisiana and West Virginia. GVG is Century’s game software provider for its “Power Vision” proprietary video gaming terminals in Nevada.
• Technology underlying “Gamblers Bonus” and “i-Rewards” programs in Nevada and Montana, respectively. These are expected to allow Accel access to a broad range of front facing player reward products for potential usage in other US markets as the opportunity arises.

“We are thrilled to welcome Steve Arntzen and the Century team to the Accel family and look forward to leveraging this compelling transaction that will provide significant and attractive growth opportunities for both companies,” said Accel CEO Andy Rubenstein. “We are constantly seeking innovative opportunities to broaden our reach and expand our operations into new markets. As we continue to scale our presence across the United States, Steve and his leadership team at Century make for an ideal partner in the Western U.S.”

Steve Arntzen, CEO of Century commented, “We are excited to join the Accel team. With Accel, we will be exceptionally positioned to expand our operations while continuing to lead the industry in cutting-edge emerging gaming technologies that support both our operators and their players. We look forward to working with Accel to grow our business in our home states of Nevada and Montana and to deepen our partnership in the years to come.”