Accel Entertainment, Inc. announced the appointment of Scott Levin as Chief Legal Officer and Secretary, effective immediately.

Levin brings more than three decades of experience as an executive and senior legal advisor for a variety of high-growth public and private companies and will support Accel’s continued expansion as not only the preferred gaming operations partner of bars, restaurants, convenience stores, and fraternal and veteran establishments across the country, but also a premier operator of brick-and-mortar retail stores and casinos. As Chief Legal Officer, Scott Levin will oversee all the Company’s legal affairs and report directly to Andy Rubenstein, Chief Executive Officer at Accel Entertainment.

“Scott brings a wealth of invaluable experience to Accel Entertainment across multiple legal disciplines, and we are excited to welcome him to our leadership team as we continue to expand into new markets and adjacent gaming verticals,” said Accel CEO Andy Rubenstein. “In the gaming industry, a strong legal function is essential for long-term growth, and Scott brings the key legal experience needed to help us further strengthen our best-in-class organization.”

Levin has held senior leadership positions with several public and private companies across various industries, including serving as CEO of FTD Companies, leading the company in pursuing strategic opportunities and developing a robust legal function, and as the first General Counsel for Morton’s Restaurant Group, a publicly held restaurant holding company, helping Morton’s expand its leading hospitality footprint internationally. Levin was most recently the Founder and Managing Director of Portco Advisors LLC, where he served as outside general counsel and executive advisor for growing companies undergoing periods of significant transformation. Prior to founding Portco Advisors, Levin also served as General Counsel for companies including Torex Retail, a provider of information technology systems for the retail, fuel and convenience stores, and pub markets in Europe, and several successful startups including Atlas Power Group, Coskata, eMac Digital, and OurHouse. Levin received his Juris Doctor with Honors from George Washington University and received his Bachelor of Arts degree from Boston College.

“I have been closely following Accel Entertainment’s sustained growth since becoming a public company, and I am thrilled to join the team at such an exciting stage of development,” said Scott Levin. “Accel’s commitment to excellence and determination to fuel growth through innovation is inspiring, and I look forward to working with the incredibly talented leadership team and everyone at the company to help advance Accel’s industry-leading position in the locals gaming sector.”

As a part of this announcement, Derek Harmer, current General Counsel and Chief Compliance Officer, will now serve as Accel’s first dedicated Chief Compliance Officer and will continue to report to Accel CEO Andy Rubenstein. Harmer will continue to leverage his decades of industry insights and experience to lead Accel’s national Compliance and Government Affairs functions, supporting the company in an increasingly complex regulatory and legislative environment.

“Derek has made a tremendous impact on our organization while leading the legal and compliance teams. His success in this dedicated national role will be a key driver in supporting the Company’s commitment to compliance and growth into new regulated markets,” said Accel CEO Andy Rubenstein.

Accel Entertainment Inc. and Fairmount Holdings Inc. announced that the companies have entered into an agreement for Accel to acquire Fairmount, the owner of FanDuel Sportsbook & Horse Racing, for total consideration of approximately $35 million (based on a 20-day trailing average), payable to the sellers as 3.45 million shares of Accel Class A-1 common stock. The strategic transaction adds a promising single-site racetrack and future casino to extend Accel’s convenience gaming expertise to a larger and more concentrated venue – an adjacency in Local Gaming that is complementary to Accel’s steadily growing, route-based footprint.

During the year ended December 31, 2023, Fairmount generated $29 million of revenue and modest Adjusted EBITDA. Accel plans to invest $85-$95 million (over and above the purchase price) to fund temporary and then permanent casino construction and modest track investments. Accel’s five-year forecast suggests an Adjusted EBITDA potential of $20 to $25 million and over 75% free cash flow conversion – pointing to a compelling cash flow return on capital. The asset will be the cornerstone in a local gaming platform that builds on Accel’s capabilities and strengths as a leading route-based operator.

“As a leading distributed gaming operator in the United States, we are excited to partner with ‘Hall of Fame’ value creators Bill Stiritz and Rob Vitale to deploy our local gaming expertise in this promising sportsbook, racetrack and future casino,” said Andy Rubenstein, Accel co-founder, President, CEO and Director.

“We’re also deeply grateful to Mayor Jeff Stehman of Collinsville, state representatives Jay Hoffman (113th District) and Katie Stuart (112th District), state senator Chris Belt (57th District), the Illinois Gaming Board and the Illinois Racing Board for their support of this opportunity to reinvest and support job creation in the southern Illinois and greater St. Louis community. We are excited to be a part of an almost 100-year-old southern Illinois institution in Fairmount Park and support the Illinois agriculture and equine industries,” Rubenstein added.

“I am delighted by Accel Entertainment’s purchase of FanDuel Sportsbook & Horse Racing. This move is a testament to the vitality and potential of Collinsville. It will undoubtedly spur economic development along the Collinsville road corridor, creating jobs and bolstering our local economy. We look forward to the positive impact this acquisition will have on our city,” stated Mayor Jeff Stehman of Collinsville, IL.

“We couldn’t have found better partners than Andy and his team in this transaction, and we look forward to staying fully aligned on this journey as significant equity owners from here,” noted William Stiritz.

“We’ve long sought strategically aligned, well capitalized and proven operators in the local gaming space to realize the full potential of this sportsbook and racetrack, and Accel is the ideal fit,” said Rob Vitale, current CEO and Chairman of Post Holdings.