Accel Entertainment acquired Century Gaming, Inc. for $164.2 million (cash and stock, including working capital; announced at $140 million), a transaction completed in June 2022, structured as cash and stock.
Century Gaming, Inc. operates in Distributed gaming — Montana & Nevada; gaming-terminal manufacturing, is based in Montana and Nevada (HQ Las Vegas / Montana), had revenue of about approximately $220 million of revenue expected in 2021 (per announcement). Century Gaming, Inc. is one of the leading distributed gaming operators in the Western United States, with a 60-plus-year history and Montana's largest gaming route plus a significant Nevada presence. At close it added more than 8,300 gaming terminals across over 900 licensed locations — bars, taverns, truck stops and convenience-store groups — in Montana and Nevada. The deal also brought Accel design and manufacturing capability through subsidiary Grand Vision Gaming (GVG) and Century's proprietary i-Rewards CRM and Gamblers Bonus player-rewards platforms. Announced March 2, 2021 at a $140 million cash-and-stock valuation, the transaction closed June 1, 2022 for $164.2 million including working capital.
Expansion of Accel's hyper-local, route-based operating model into the Western United States (Montana and Nevada) and vertical addition of in-house terminal design and manufacturing via Grand Vision Gaming.
Largest gaming operator in Montana and a Nevada leader with 900+ locations, plus proprietary rewards technology and an in-house terminal manufacturer (GVG). Extends the asset-light hyper-local route model into two new states and adds vertically integrated terminal manufacturing and player-rewards technology. Century continues under its executive team — CEO Steve Arntzen, CFO Heidi Schmalz and GVG Managing Director Merle Frank — as part of Accel.
We are thrilled to welcome Steve Arntzen and the Century team to the Accel family and look forward to leveraging this compelling transaction that will provide significant and attractive growth opportunities for both companies. As we continue to scale our presence across the United States, Steve and his leadership team at Century make for an ideal partner in the Western U.S.Andy Rubenstein, CEO, Accel Entertainment
In Accel, we have found an ideal strategic partner and together we are uniquely positioned to accelerate our growth trajectory as we deliver the latest technological advancements to the gaming market.Steve Arntzen, CEO, Century Gaming
Advisory firms were not disclosed for this transaction.