Accel Entertainment, Inc.: management transactions · United States · SEC (Form 4)

About Accel Entertainment, Inc.

Accel Entertainment, Inc. (NYSE: ACEL) is a U.S.-based locals gaming operator focused on distributed gaming and venue-based entertainment, with its principal executive presence in the Chicago area of Illinois, United States. The company’s core model is straightforward but scalable: it places, operates, services, and maintains gaming terminals in third-party local establishments such as bars, restaurants, convenience stores, truck stops, gaming cafes, fraternal clubs, and veterans’ organizations. In addition to route gaming, Accel has expanded into brick-and-mortar casino/racino operations through Fairmount Park Casino & Racing in Collinsville, Illinois.([ir.accelentertainment.com](https://ir.accelentertainment.com/news/news-details/2026/Accel-Entertainment-Announces-Leadership-Transition/default.aspx)) From an industry perspective, Accel has built a niche position as one of the largest terminal operators in the United States, with a business that emphasizes recurring location relationships, regulatory expertise, cash logistics, customer support, content, payments, and data/analytics capabilities. That service-heavy, turnkey approach differentiates it from companies that rely solely on owned venues. Accel’s platform is designed to help local business owners add incremental entertainment revenue with relatively limited capital burden, which is an important competitive advantage in regulated gaming markets. The company also owns and operates Fairmount Park, which adds a higher-touch, self-operated venue component to its mix.([ir.accelentertainment.com](https://ir.accelentertainment.com/news/news-details/2026/Accel-Entertainment-Announces-Leadership-Transition/default.aspx)) Founded by Andy Rubenstein, Accel evolved from a regional operator into a multi-state public company with operations across ten states. Management highlights a strong footprint in Illinois, the company’s largest market, while also expanding in Montana, Nevada, Louisiana, Nebraska, Georgia, and other developing markets. This geographic spread provides both scale and diversification, while leaving room for operating leverage as terminals, locations, and market density increase. In 2026, Accel also pointed to the potential opening of Chicago’s Video Gaming Terminal market as a meaningful long-term opportunity, noting that applications are being processed and that revenue could begin as early as late 2026 if the regulatory framework advances.([sec.gov](https://www.sec.gov/Archives/edgar/data/0001698991/000169899126000016/q42025earningspressrelease.htm)) Recent operating updates have been constructive. Accel reported record fourth-quarter 2025 revenue of $341.4 million and full-year 2025 revenue of $1.33 billion, alongside record Adjusted EBITDA and continued share repurchases. In the first quarter of 2026, it delivered another record revenue quarter at $352 million, supported by higher Illinois performance, continued TITO rollout benefits, and the ramp of Fairmount Park. The company also completed a new $900 million credit facility in September 2025, extending maturities to 2030 and improving capital flexibility. For investors, the key themes are scale, regulatory optionality, cash generation, and disciplined capital allocation.([sec.gov](https://www.sec.gov/Archives/edgar/data/0001698991/000169899126000016/q42025earningspressrelease.htm))