Accel acquires FanDuel Sportsbook owner Fairmount for ~$35M in stock; plans $85-95M casino build

Accel Entertainment, Inc.

Consideration: 3.45M ACEL shares (approx. $35M) to acquire Fairmount, owner of FanDuel Sportsbook & Horse Racing in Collinsville, IL.
Fairmount generated $29M revenue in 2023 with modest Adj. EBITDA; Accel expects $20-25M Adj. EBITDA potential within 5 years.
Accel plans $85-95M capex for temporary and permanent casino facilities and track improvements.
Transaction unanimously approved by both boards; expected close by end of 2024, subject to gaming regulatory approvals.
Accel engaged RRC Gaming Management (ex-Caesars CEO Tony Rodio) for casino development/operations.

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