Accel Entertainment To acquire Fairmount Holdings, Owner Of FanDuel Sportsbook & Horse Racing In Collinsville, Illinois For Total Consideration Of ~$35M
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Accel Entertainment, Inc. (NYSE:ACEL) is set to acquire Fairmount Holdings, the owner of FanDuel Sportsbook & Horse Racing, for approximately $35 million. The acquisition will be paid in 3.45 million shares of Accel Class A-1 common stock. Accel plans to invest an additional $85-$95 million for casino construction and track investments. The acquisition is expected to significantly enhance Accel's local gaming platform.
July 15, 2024 | 8:06 pm
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Accel Entertainment is acquiring Fairmount Holdings for approximately $35 million, paid in shares. The acquisition includes plans for significant investments in casino and track improvements, which are expected to enhance Accel's local gaming platform and generate substantial cash flow.
The acquisition of Fairmount Holdings by Accel Entertainment is a strategic move to expand its local gaming platform. The additional investment in casino and track improvements is expected to generate significant cash flow and enhance Accel's market position.
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