Accel Entertainment delivers record quarter with Fairmont Park casino off to a flyer
Having just opened its Fairmount Park Casino & Racing, Accel Entertainment delivered record revenues of $323.9m in the first quarter, marking an increase of 7.3 per cent.
Although early days, it sees the Illinois casino as another ‘meaningful growth driver’ for the company, with it having already ‘garnered solid customer visitation and play.’
Accel CEO Andy Rubenstein commented, “Our operating and financial momentum continues in 2025. In the first quarter, we generated our highest quarterly revenue since going public and strong Adjusted EBITDA as we expanded the number of locations we serve and increased the number of gaming terminals. In April, we opened Phase I of our casino and commenced horse racing operations at Fairmount Park Casino & Racing, which has already garnered solid customer visitation and play. This past Saturday, we hosted Fairmount Park’s “Derby Day at the Track.” Despite the inclement weather forcing us to cancel races at our Derby Day, we still had a fantastic turnout that drove very strong play at the casino, demonstrating the value of our acquisition. We remain confident that Fairmount will be another meaningful growth driver for Accel.”
“We continue to execute on our near- and long-term growth plans to improve our core operations and expand into complimentary markets, including Fairmount, to leverage our operating disciplines. These initiatives are already benefiting our operating performance and we expect our expansion efforts will allow Accel to maintain attractive low-teens returns on capital, generate growing free cash flow, and ultimately improve our trading multiples to enhance shareholder value.”
“Both revenue and adjusted EBITDA grew seven per cent year on year, demonstrating again the strength of our local distributed gaming model operated in 10 states and four time zones. During the first quarter, we continue to see stable revenue growth in our largest markets of Illinois and Montana. Nebraska and Georgia continue to generate strong double digit revenue growth, albeit from a smaller base, while Nevada experienced a small revenue decline in the first quarter as we work through the loss of a key customer due to an ownership change. We’ve now completed the integration of our recently acquired operations in Louisiana and are looking forward to the revenue growth opportunities that this acquisition should generate.
Mark Phelan, President of US Gaming/Acting CFO, of Accel Entertainment, added: “From day one of the Fairmont acquisition, we had a clear goal to complete the construction of Phase one of the Fairmont Casino project at or below budget. This project included the construction of our Phase one casino, the addition of high quality food and beverage amenities, improvements to the track infrastructure and the recruitment, licensing and training of our premier customer service team, all well ahead of Fairmont Park’s biggest racing event of the year, Derby Day, which coincided with the Kentucky Derby this past weekend. Thanks to the relentless commitment of both our on-site team and shared services team, Fairmont Park Casino and Racing successfully opened its casino on April 18, approximately four and a half months after the acquisition was completed and just two weeks ahead of Derby Day and all slightly under our Phase one construction budget. The racing season at Fairmont started on April 22.
“Despite minimal marketing ahead of the opening, our team has done an outstanding job generating interest in both the casino and the broader improvements at Fairmont Park. Now open for just over two weeks, we are encouraged by the early results. This past Saturday, 05/03/2025, we hosted Derby Day at the track. Despite the inclement weather forcing us to cancel races, we still had a fantastic turnout that drove very strong play at the casino. As marketing efforts ramp up and our full service freestanding restaurant, LongShots, comes online, we are increasingly confident in the casino’s appeal as the most engaging and freshest slot floor in the Greater St. Louis area as well as in Fairmont Park’s growing reputation as a premier regional destination for racing and entertainment.”
