Accel Entertainment appoints new Chief Legal Officer

CHICAGO - Accel Entertainment, Inc. (NYSE: ACEL), a prominent gaming solutions provider with a market capitalization of $843 million and annual revenue exceeding $1.2 billion, has announced the immediate appointment of Scott Levin as Chief Legal Officer and Secretary. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 2.76, indicating robust financial health. Levin, who has over thirty years of legal experience in various industries, will oversee all legal affairs for Accel and report directly to CEO Andy Rubenstein.

Levin's extensive background includes roles as CEO of FTD Companies and the first General Counsel for Morton's Restaurant Group. He has also served as General Counsel for several companies, including Torex Retail and startups like Atlas Power Group and Coskata. Levin holds a Juris Doctor with Honors from George Washington University and a Bachelor of Arts from Boston College. This appointment comes at a crucial time, as InvestingPro data shows the company is expected to grow its net income this year, with analysts maintaining a strong buy consensus.

Rubenstein praised Levin's wealth of experience, emphasizing the importance of a robust legal function in the gaming industry for long-term growth. Levin expressed excitement about joining Accel during a pivotal development stage, citing the company's commitment to excellence and growth through innovation.

In conjunction with Levin's appointment, Derek Harmer, previously General Counsel and Chief Compliance Officer, will now focus solely on compliance as Accel's first dedicated Chief Compliance Officer. Rubenstein acknowledged Harmer's significant contributions and his role in supporting Accel's expansion into new regulated markets.

Accel Entertainment operates more than 26,000 gaming terminals across over 4,300 local and regional establishments in ten states. The company is known for its full-service gaming solutions, including the design, manufacture, installation, and operation of gaming terminals and related equipment for authorized non-casino locations as well as casinos and horseracing venues. With EBITDA of $166 million in the last twelve months and a solid financial health score from InvestingPro, the company appears well-positioned in the gaming sector. For detailed insights and additional ProTips about Accel's growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro.

This leadership change comes as Accel continues to expand its market presence and seeks to strengthen its position in the local gaming sector. The information for this article is based on a press release statement from Accel Entertainment.

In other recent news, Accel Entertainment reported a 6.9% increase in fourth-quarter 2024 revenue, reaching $318 million, and a full-year revenue of $1.2 billion, marking a 5.2% increase from the previous year. The company has been actively expanding its operations, with notable moves into the Louisiana market and the acquisition of Fairmont Park. These strategic developments are expected to enhance future growth, particularly with the anticipated opening of Fairmont Casino's Phase One in the second quarter of 2025. Accel Entertainment's adjusted EBITDA for the fourth quarter was $47 million, a 6.2% increase year-over-year, while the full-year adjusted EBITDA rose by 4.2% to $189 million. The company plans to invest $75-$80 million in capital expenditures for 2025, focusing on existing markets and the development of Fairmont Casino. Despite challenges such as a 1% state gaming tax increase and market saturation in Illinois, Accel continues to explore growth opportunities, including potential partnerships in the e-pull tabs market. These developments indicate a robust foundation for future expansion and operational efficiency.

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