Accel Entertainment has rolled-out a deal to acquire Century Gaming, which operates as Century Gaming Technologies, in a cash and stock transaction valued at $140m.
The distributed gaming operators say that the combined business is expected to generate approximately $220m in revenue in 2021, with Accel Entertainment praising further expansion into new geographical markets via the purchase.
Each company’s board of directors has unanimously approved the deal, which is expected to close by the end of 2021, subject to the satisfaction of customary closing conditions, including regulatory approvals from applicable gaming authorities.
“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,” said Andy Rubenstein, Accel CEO.
“We are constantly seeking innovative opportunities to broaden our reach and expand our operations into new markets. 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 US.”
The transaction is expected to be funded through a combination of Accel’s cash on hand, borrowing under its existing credit facility and stock.
An expansion of the group’s operations into the Western United States is to be done via the addition of more than 900 licensed establishments and more than 8,500 gaming terminals across Montana and Nevada.
Steve Arntzen, CEO of Century, commented: “We are excited to join the Accel team. With Accel, we will be exceptionally positioned to expand our operations while continuing to lead the industry in cutting-edge emerging gaming technologies that support both our operators and their players.
“We look forward to working with Accel to grow our business in our home states of Nevada and Montana and to deepen our partnership in the years to come.”