BlackRock Discloses 7.0% Passive Stake in Accel Entertainment

TL;DR

**BlackRock owns 7.0% of Accel Entertainment, a big vote of confidence but no active takeover.**

AI Summary

BlackRock Inc., a major investment firm, reported its ownership of 6,293,767 shares of Accel Entertainment, Inc. (NASDAQ: ACEL) common stock as of December 31, 2023. This represents a 7.0% stake in the company. This filing indicates BlackRock's significant, but passive, investment in Accel Entertainment, a company in the amusement and recreation services industry. For current or prospective shareholders, this means a large institutional investor sees value in ACEL, potentially signaling stability or future growth, but BlackRock isn't actively seeking to influence management.

Why It Matters

Large institutional ownership by firms like BlackRock can lend credibility to a stock and often indicates a belief in the company's long-term prospects, which can reassure other investors.

Risk Assessment

Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by signaling confidence without suggesting disruptive changes.

Analyst Insight

An investor might view BlackRock's significant, passive stake as a positive signal of long-term value, but should still conduct their own due diligence on Accel Entertainment's fundamentals and industry outlook.

Key Numbers

• 6,293,767 — Shares Owned (The total number of Accel Entertainment common shares held by BlackRock Inc.)
• 7.0% — Ownership Percentage (The percentage of Accel Entertainment's common stock owned by BlackRock Inc.)
• December 31, 2023 — Reporting Date (The date as of which BlackRock's ownership stake is reported.)

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• Accel Entertainment, Inc. (company) — the subject company whose shares are owned
• 6,293,767 (dollar_amount) — number of shares of common stock owned by BlackRock
• 7.0% (dollar_amount) — percentage of Accel Entertainment's common stock owned by BlackRock
• December 31, 2023 (person) — the date of the event requiring this filing

Forward-Looking Statements

• BlackRock will maintain its passive stake in Accel Entertainment for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024

FAQ

From the Filing

0001086364-24-005091.txt : 20240129 0001086364-24-005091.hdr.sgml : 20240129 20240129152622 ACCESSION NUMBER: 0001086364-24-005091 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Accel Entertainment, Inc. CENTRAL INDEX KEY: 0001698991 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 981350261 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-90040 FILM NUMBER: 24573067 BUSINESS ADDRESS: STREET 1: 140 TOWER DRIVE CITY: BURR RIDGE STATE: IL ZIP: 60527 BUSINESS PHONE: 630-972-2235 MAIL ADDRESS: STREET 1: 140 TOWER DRIVE CITY: BURR RIDGE STATE: IL ZIP: 60527 FORMER COMPANY: FORMER CONFORMED NAME: TPG Pace Holdings Corp. DATE OF NAME CHANGE: 20170224 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G 1 us00436q1067_012924.txt us00436q1067_012924.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: ) ACCEL ENTERTAINMENT INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 00436Q106 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 00436Q106 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 4697185 (6) Shared voting power 0 (7) Sole dispositive power 4831724 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 4831724 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 5.7% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- ACCEL ENTERTAINMENT INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 140 TOWER DRIVE BURR RIDGE IL 60527 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b