Houlihan Lokey Advises Century Gaming Technologies
Houlihan Lokey is pleased to announce that Century Gaming Technologies (Century), a leading distributed gaming operator in the Western U.S., has been acquired by Accel Entertainment, Inc. (NYSE:ACEL) (Accel), a leading distributed gaming operator in the U.S., in a cash and stock transaction valued at $140 million. The transaction closed on June 1, 2022.
With more than 60 years of experience, Century is Montana’s largest gaming operator and a leader in the Nevada gaming market, serving more than 900 locations, including top bars/taverns, convenience store groups, and small casinos across Montana and Nevada. Through the installation of state-of-the-art technologies, Century continues to lead the way in player-centric gaming innovation.
Accel is a leading distributed gaming operator in the U.S. on an adjusted EBITDA basis and a preferred partner for local business owners in the Illinois market. Its business consists of the installation, maintenance, and operation of video game terminals, redemption devices that disburse winnings and contain ATM functionality, and other amusement devices in authorized noncasino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.
The acquisition provides Accel the expansion of operations into the Western U.S., adding more than 900 licensed establishments and 8,500 gaming terminals across Nevada and Montana. Accel will also gain additional technological capabilities through Century’s Grand Visions Gaming (GVG) subsidiary, a leading video gaming technology designer and manufacturer with an established installed game base in Montana, South Dakota, Louisiana, and West Virginia. GVG is also the game software provider to Century for its “Power Vision” proprietary video gaming terminals in Nevada. Finally, the acquisition of Century’s technology underlying “Gamblers Bonus” in Nevada and “i-Rewards” in Montana will give Accel access to a broad range of front-facing player reward products for potential usage in other U.S. markets as the opportunity arises.
Houlihan Lokey served as the exclusive financial advisor to Century and assisted in structuring and negotiating the transaction on behalf of the company. This deal further demonstrates Houlihan Lokey’s leading position in advising companies across the casino gaming industry, including distributed gaming, land-based casino gaming, online gaming and sports betting, and gaming technology and payments.
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