Andrew H. Rubenstein, CEO and President of Accel Entertainment Inc. (NYSE: ), a gaming company with a market capitalization of approximately $1 billion and an “EXCELLENT” financial health rating by InvestingProreported sales of company stock totaling approximately $980,627. The transactions, made over three consecutive days, included the sale of 41,700 shares on December 2 at a weighted average price of $11.7047, 18,300 shares on December 3 at $11.7478 and 23,000 shares on December 4 at $12.0677. These sales were conducted under a Rule 10b5-1 trading plan, which Rubenstein adopted earlier this year. The stock is currently trading near a 52-week high of $12.61, with relatively low price volatility. After these transactions, Rubenstein retains ownership of 4,014,139 shares of the company. For a comprehensive analysis of insider trading and additional insights, including 8 key expert tips, visit InvestingPro.
In other recent news, Accel Entertainment is making strategic moves to strengthen its presence in the gaming market. The company reported steady growth in its third quarter 2024 results, with revenue of $302 million and adjusted EBITDA of $46 million, posting year-over-year growth of 5.1% and 3.9%, respectively. This growth is attributed to strategic moves in Illinois, its largest market, and expansion into new markets including Nebraska, along with the upcoming acquisition of Fairmont Park.
Accel Entertainment also completed the acquisition of a majority stake in two Louisiana-based gaming entities, Toucan Gaming, LLC and LSM Gaming, LLC. This $40 million transaction gives Accel ownership of 85% of both companies and is expected to generate approximately $25 million in revenue and $6 million in adjusted EBITDA for 2025.
In addition, the company is actively repurchasing shares under a $200 million program and exploring M&A opportunities in the $15 billion local gaming market. Despite facing a 1% tax increase in Illinois, Accel remains optimistic about organic growth and M&A opportunities in the local gaming market. These recent developments underscore Accel Entertainment’s commitment to growth and shareholder returns.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
