Nevada Casino: Accel Receives License to Operate for the Next Two Years

Nevada Casino: Accel Receives License to Operate for the Next Two Years

According to a recent proposal made by the Nevada Gaming Control Board, the Illinois-based terminal operator and video slot machine supplier Accel Entertainment is eligible to apply for a two-year license in Nevada

Accel Entertainment’s headquarters are located in Chicago. With this license, Accel will be able to provide its slot machines and other entertainment devices to eating establishments, drinking establishments, truck stops, and gaming cafes located inside the state.

Accel Entertainment

The License Is Conditional Upon Upcoming Acquisition

The firm’s condition to acquire its Nevada license was that it had to successfully complete a significant purchase agreement for Century Gaming Technologies. The transaction is anticipated to be finalized by the end of May and has an estimated value of $140 million. On May 19, the license request will be presented in front of members of the Nevada Gaming Commission, which is a few days sooner than usual.

Accel would guarantee the essential basis for Montana and Nevada if it were to acquire its competitor in the slot machine industry. These are, by far, the country’s two most major gaming markets in terms of the number of gaming terminals available. Accel anticipates a total of between 23,000 and 25,000 slot machines and video gaming terminals by the end of the year, which is an increase over the approximately 13,600 machines that will be present in 2021. It is anticipated that the newly formed firm would complete the year with anywhere from 3,700 to 3,800 sites, which is an increase over the previous year’s total of 2,584 locations. The purchase would also catapult Accel into additional states that either have gaming markets or have markets that have the potential to open if gambling is legalized. The video gaming terminals (VGT) operated by Accel Entertainment in Illinois brought in a total of $60.3 million in gross revenue for the month of June 2021.

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The Problem with the $5 Million Fee

During the hearing that led to the board’s recommendation of a two-year license for Nevada, not everything went as well as planned. A punishment of $5 million was imposed on the corporation by the Illinois Gaming Control Board, and this was a topic that received a lot of attention over the course of the conversation. The company’s breach of an agreement it had made with DraftKings resulted in the imposition of the punishment. According to the authorities, the deal violated the restrictions that expressly ban incentives for maintaining Accel’s VGTs in video gaming venues. The regulations were in place since the agreement went against the regulations.

Brittnie Watkins, a member of the board, brought up the issue of Accel executives in connection to the manner in which they handled a case of sexual harassment case, cultural compliance concerns, due diligence or document retention matters. In response, the private counsel for Accel, Gregory Gemignani, said that the firm had an active compliance strategy that it would continue to enhance, all the while completely respecting the stringent restrictions that Nevada has in place. He went on to say that Century’s employees will be kept on at Accel, and that the company’s compliance culture would be effectively incorporated into Century’s operations. With a staggering $1.355 billion in gross gaming income from casino operations in March, Nevada was dangerously close to surpassing its previous gross gaming revenue record, which stood since July 2021. The revenue earned from slot machines and other gambling terminals was $903 million.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.