Accel Entertainment expands into Louisiana
The gaming operator has completed the acquisition of 85 per cent of the interests of Toucan Gaming and LSM Gaming.
US.- Accel Entertainment has completed the acquisition of 85 per cent of the ownership interests of Toucan Gaming and LSM Gaming, two Louisiana-based route operators and owners of multiple licensed video poker establishments, for approximately $40m.
The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, current CEO of Toucan. Guidroz owns the remaining 15 per cent of Toucan’s ownership interests.
The firm expects $25m of revenue and $6m of Adjusted EBITDA in 2025 and an expansion of Accel’s operations into the southeastern US. The company will add 13 truck stop locations with 450 terminals and 60 three-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.”
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Guidroz said: “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.”
Louisiana sports betting handle reaches $351m in September
The Louisiana Gaming Control Board has published its online and retail sports betting revenue figures for September. The handle was $351.7m, up 25.4 per cent year-over-year and 50 per cent from August ($234.5m). Some $320m was wagered online and $31.7m at retail sportsbooks.
Adjusted gross revenue totalled $52.5m, up 25.6 per cent year-on-year and 106.7 per cent sequentially. Online revenue was $47.2m and retail $5.3m. This resulted in a state-wide hold of 14.93 per cent. Parlays generated the most revenue, at $35m. Football wagers generated $5.1m amid the start of the NFL season, and other bets reached $9.5m.
