Interactive Brokers shares jump as it secures spot in S&P 500
CHICAGO - Accel Entertainment, Inc. (NYSE: ACEL), a prominent gaming operator with strong financial health according to InvestingPro analysis, disclosed today that Mathew Ellis will step down as Chief Financial Officer effective May 9, 2025, to pursue other business opportunities. The transition comes as the company maintains a healthy liquidity position with a current ratio of 2.76. Following Ellis’s departure, Mark Phelan, currently President of U.S. Gaming at Accel, will assume the role of acting Chief Financial Officer. The company has initiated a search for a permanent replacement.
Andy Rubenstein, CEO of Accel, expressed gratitude to Ellis for his service since 2015 and confidence in Phelan’s ability to take over the CFO responsibilities on an interim basis. Rubenstein highlighted Phelan’s extensive financial expertise and comprehensive knowledge of Accel’s operations, which, along with the existing finance and accounting teams, should ensure continued operational stability. The company’s priority is to find a new CFO who will contribute to Accel’s growth and innovation. With the company’s next earnings report due on May 5, 2025, analysts maintain a Strong Buy consensus on the stock, suggesting confidence in its trajectory.
Mathew Ellis remarked on the fulfillment of his tenure at Accel and his belief in the company’s successful future. He praised the finance, IT, and cash operations teams he led and their ongoing commitment to excellence.
Accel Entertainment operates a vast network of more than 27,000 gaming terminals across ten states and is a significant player in the U.S. distributed gaming sector, generating annual revenues of $1.23 billion. The company also develops casinos and horse racing venues, focusing on local gaming markets. Accel prides itself on innovative solutions and exceptional service, aiming to be the preferred gaming partner for local businesses in its service areas. According to InvestingPro analysis, the company appears undervalued at current market prices, with multiple growth indicators suggesting potential upside. Discover comprehensive insights and detailed valuations for over 1,400 stocks, including Accel Entertainment, through InvestingPro’s exclusive research reports.
This announcement is based on a press release statement from Accel Entertainment, Inc.
In other recent news, Accel Entertainment reported a 6.9% increase in fourth-quarter revenue for 2024, reaching $318 million. The company’s full-year revenue rose to $1.2 billion, reflecting a 5.2% increase from the previous year. Accel’s strategic expansions, including entering the Louisiana market and acquiring Fairmont Park, are expected to support future growth. The company plans to open Phase One of the Fairmont Casino in the second quarter of 2025. Additionally, Accel appointed Scott Levin as the new Chief Legal Officer, with Derek Harmer transitioning to focus solely on compliance. This leadership change aligns with Accel’s ongoing market expansion efforts. The company is also investing $75-$80 million in capital expenditures for 2025, focusing on existing markets and new developments. Accel continues to explore growth opportunities, including potential partnerships in the e-pull tabs market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.