Distributed-gaming operator Accel Entertainment announced Monday that founder and CEO Andy Rubenstein has been named chairman of the company’s Board of Directors, while Accel’s President of U.S. Gaming Mark Phelan has been appointed chief operating officer. Phelan will succeed Rubenstein as both CEO and president, effective August 7. Phelan is also expected to join the Accel Board at that time.
As part of these leadership changes, Karl Peterson has been appointed as the lead independent director of the Accel board.
The company said these changes reflect the board’s long-term commitment to strong corporate governance and a leadership succession strategy.
“After 17 years and having built a deep bench of talent, I am confident that transitioning day-to-day leadership to Mark will enable Accel to continue to capitalize on our many growth opportunities,” Rubenstein said. “Accel has grown into a public company that is a leader in the route-gaming industry, operating across 10 states, partnering with over 4,600 local retail businesses, employing more than 1,600 people, and generating billions of dollars in municipal and state tax revenue over the years in the states we serve.”
Peterson, speaking on behalf of the board, thanked Rubenstein for his “outstanding leadership and the foundation and culture of integrity he established that defines Accel today. After careful consideration and discussions with Andy, the board is confident that now is the right time to effect this transition, as the company continues to grow and evolve into a scaled, multi-state enterprise. We believe Andy’s new role will allow him to leverage his longstanding local and industry relationships and regulatory experience to help further position Accel to capitalize on promising growth opportunities, including expanding into the Chicago VGT market.”
As CEO and president, Phelan will lead Accel with a continued focus on disciplined execution and operational consistency, the company said.
“Accel has a strong foundation, long-standing partnerships, and a culture built on accountability,” Phelan said. “My focus will be on execution — improving the experience for our location owners and players, driving consistent performance across our markets, operating with discipline, identifying and capitalizing on growth opportunities, and working to create long-term value for shareholders. I am honored that Andy and the Board have selected me to lead Accel.”
Rubenstein said Phelan has a deep understanding of the distributed-gaming business and a demonstrated record of effective execution. He added that Phelan understands Accel’s markets, partners, regulators, and players and has shown the judgment and discipline required to lead the company at scale.
Accel Entertainment, listed on the New York Stock Exchange, is a provider of locals-focused gaming and one of the largest terminal operators in the United States, supporting more than 28,000 electronic gaming terminals in over 4,600 third-party local and regional establishments and 20 self-operated gaming locations across ten states. Through exclusive long-term contracts, Accel serves licensed non-casino locations including bars, restaurants, convenience stores, truck stops, gaming cafes, and fraternal and veteran establishments. Accel also owns and operates a racino venue.
