Accel Entertainment Acquires Toucan for Expansion in Louisiana
Accel Entertainment, the United States (US) gaming operator, has announced the acquisition of a majority share in Toucan Gaming, and LSM Gaming, the video poker venue and gaming operators based in the US state of Louisiana. As Accel Entertainment looks to expand the business by increasing its presence into the region.
Accel Entertainment pursues growth with strategic acquisitions.
LISTEN TO THIS ARTICLE:In a breakdown of the details of the acquisition Accel Entertainment says it will cost $40 million for 85% interest in both Toucan Gaming and LSM Gaming. The deal will see Stan Guidroz, the current CEO of Toucan Gaming retain his remaining 15% stake in the business.
Under the terms of the deal, Toucan Gaming will retain its own brand and continue to be operated by Mr Guidroz. Accel will now have an additional 73 gambling locations in Louisiana, featuring more than 600 gaming terminals.
Today’s announcement with Accel is an exciting next step for the evolution of Toucan Gaming, By partnering with an industry leader like Accel, we can quickly accelerate our growth plans and leverage the many benefits that increased innovation and scale brings to our establishment owners and playing customers.
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Accel Entertainment Seeks Growth Through Acquisition
The leadership team at Accel outlined they have a plan of expansion throughout the United States, and intend to use a two pronged strategy of company growth and achieving growth through acquisition.
It is estimated by Accel its acquisition of the gaming brands will generate a revenue of approximately $25 million a year by the end of 2025. With an Adjusted EBITDA of $6 million for the same period.
This is the latest purchase from Accel Entertainment to underscore that strategy, while only four months ago the gaming operator acquired Fairmount Holding.
The acquisition of Toucan further expands Accel’s reach into the attractive southeastern U.S., market, where we believe there is significant untapped demand and aligns with our ongoing strategy to expand Accel’s presence both organically and through acquisitions. Toucan is a well-run and highly respected company that shares many of Accel’s values and entrepreneurial attributes. I am confident Toucan is the perfect partner for our company, and we look forward to helping Stan grow the brand.
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