Key points:
- 85% of ownership interests of Toucan Gaming and LSM Gaming acquired by Accel
- Combined business will operate as Toucan Gaming throughout the state
Accel Entertainment has expanded its reach in the US within the state of Louisiana.
This comes after it acquired 85% of the ownership interests of Toucan Gaming and LSM Gaming, two operators based in the Pelican State, for approximately $40m.
With this, the combined business will operate as Toucan Gaming throughout Louisiana, led by the current owner and CEO of Toucan, Stan Guidroz.
From this, it is expected that $25m of revenue and $6m of adjusted EBITDA will be generated in 2025, while the deal adds 13 truck stop locations and 60 3-machine locations.
Accel CEO Andy Rubenstein said, “The acquisition of Toucan further expands Accel’s reach into the attractive southeastern US, 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.”
Guidroz added, “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.
“We could not be more thrilled to become a part of the Accel family and look forward to bolstering Accel’s presence in the southeastern U.S. market under the Toucan brand.”
Accel Entertainment last week announced its Q3 2024 results, which included a record revenue amount of $302.2m and operating income of $21.8m.
