Accel closes acquisition of Fairmount Holdings for 3.45M shares; plans $85-95M casino build

Accel Entertainment, Inc.

Acquired owner of FanDuel Sportsbook & Racetrack in Collinsville, IL for 3.45 million ACEL shares.
Plans to invest $85-95 million in Phase I & II casino construction; Phase I opening targeted Q2 2025.
Five-year Adjusted EBITDA potential of $20-25 million with >75% free cash flow conversion.
Asset includes horse racing venue, casino license, and master sports betting agreement with FanDuel.
Engaged Tony Rodio (ex-Caesars CEO) and Holly Gagnon for casino development and operations.

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