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CHICAGO - Accel Entertainment, Inc. (NYSE:ACEL), a gaming operator with a market capitalization of $937 million and strong financial health according to InvestingPro metrics, has appointed Brett Summerer as Chief Financial Officer, effective Monday, the company announced in a press release.
Summerer, who brings over 25 years of financial leadership experience, will report directly to CEO Andy Rubenstein. He succeeds Mark Phelan, who has been serving as acting CFO while maintaining his role as President of U.S. Gaming. The appointment comes as InvestingPro data shows the company is currently undervalued, with analysts recently revising earnings expectations upward.
In his new position, Summerer will oversee all financial aspects of the business, including financial reporting, internal audit, compliance, investor relations, and treasury functions. He will also be involved in strategic planning, business development, and mergers and acquisitions.
Prior to joining Accel, Summerer served as CFO at Verano Holdings, where he built a 70-person Finance and IT team and completed more than 20 M&A transactions. His career includes senior finance, operations, and IT roles at Kraft Heinz, Corning, and General Motors.
"Brett is an accomplished finance leader who brings extensive operational and financial discipline as well as experience in regulated industries to the CFO role at Accel," said Rubenstein in the statement.
Summerer holds multiple Bachelor of Science degrees and a Master’s degree from Michigan State University, along with an MBA in Finance and Accounting from the University of Michigan’s Ross School of Business.
Accel Entertainment operates more than 27,000 electronic gaming machines across 4,400 third-party owned businesses in 10 states, along with 20 owned and operated gaming locations and a racino. The company employs approximately 1,500 people and generates annual revenue of $1.28 billion, with a healthy EBITDA of $172 million. InvestingPro analysis reveals strong liquidity with a current ratio of 2.64, suggesting robust financial stability. For deeper insights and additional financial metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Accel Entertainment reported its Q2 2025 earnings, revealing a mixed financial performance. The company achieved a record quarterly revenue of $336 million, surpassing forecasts of $328.85 million. However, it missed on earnings per share, posting $0.08 against an expected $0.21. Additionally, Accel Entertainment announced it has entered into a $900 million senior secured credit facility with a five-year term. This new facility consists of a $300 million revolving credit facility and a $600 million term loan. The company used initial borrowings from this facility to repay and terminate all outstanding commitments under its existing senior secured credit agreement. In analyst coverage, Texas Capital Securities initiated Accel Entertainment with a Buy rating and a price target of $17.00. The firm described Accel Entertainment as an "underfollowed/underappreciated gaming operator" with visible free cash flow generation and growth potential. These developments are part of the company’s recent activities.
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