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Accel Entertainment, Inc. (NYSE: ACEL) is a leading distributed gaming operator in the United States, specializing in the installation, maintenance, and operation of video gaming terminals. Licensed by the Illinois Gaming Board, Accel provides top-tier gaming solutions to various establishments including restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores. With an expertise that is unsurpassed in the industry, Accel partners with these establishments to deliver exceptional service and high-quality equipment.
Headquartered in Chicago, Accel has demonstrated significant growth and resilience, even amidst macroeconomic uncertainties. As of the first quarter of 2024, the company operates 25,321 gaming terminals across 3,987 locations, reflecting a year-over-year increase of 5.6% in terminals and 5.1% in locations. The company’s core business revolves around net gaming revenue, which is derived from the difference between gaming wins and losses.
In recent achievements, Accel reported revenues of $301.8 million for Q1 2024, marking a 2.9% increase compared to Q1 2023. Despite a 19.2% decrease in net income to $7.4 million for the same period, the company's Adjusted EBITDA saw a slight increase to $46.2 million. Accel's strategic acquisitions, such as that of Century Gaming, Inc., have bolstered its market presence and revenue, with Illinois same-store sales growth contributing notably to these figures.
Financially, Accel ended Q1 2024 with $286 million of net debt, a decrease of 7% compared to Q1 2023. The company's balance sheet strength is further evidenced by its $6.1 million repurchase of Class A-1 common stock during the quarter, reflecting a continued commitment to providing value to investors.
Accel's forward-looking strategies include expanding its geographic footprint beyond Illinois, with a focus on new market opportunities. The company’s asset-light and hyper-local business model positions it uniquely in the distributed gaming landscape, offering one of the best returns in the industry according to CEO Andy Rubenstein.
Accel Entertainment, Inc. (NYSE: ACEL) is set to release its financial and operational results for Q1 ending March 31, 2023, after market close on May 3, 2023. A conference call will follow at 5:30 PM ET to discuss these results. The registration for the live webcast is available via the company's investor relations website, enabling participants to access the event and subsequent replay.
Accel positions itself as a leading distributed gaming operator in the U.S. based on Adjusted EBITDA. The company's operations focus on the installation and maintenance of gaming terminals and devices in non-casino locations, targeting partnerships with local business owners in various sectors such as restaurants, bars, and convenience stores.
Accel Entertainment, Inc. (NYSE: ACEL) reported strong financial results for Q4 2022 and the full year, demonstrating growth due to the acquisition of Century Gaming, Inc. Highlights include:
- Revenue: $278 million in Q4 2022, up from $192 million in Q4 2021; $970 million for the full year, a rise from $735 million in 2021.
- Net Income: $13 million for Q4 2022; $74 million for the year.
- Adjusted EBITDA: $43 million in Q4 2022; $162 million for the year.
- Location Count: 3,598 locations and 23,150 gaming terminals, marking increases of 39% and 70%, respectively, compared to 2021.
Despite increased net debt of $318 million, CEO Andy Rubenstein expressed confidence in continued growth.
Accel Entertainment, Inc. (NYSE: ACEL) announced it will release its financial and operating results for Q4 and full year ended December 31, 2022, after market close on February 28, 2023. A conference call to discuss the results will take place at 5:30 PM ET on the same day. Interested parties can register for a live webcast and access a replay via Accel’s investor relations website.
Accel claims to be the leading distributed gaming operator in the U.S. on an Adjusted EBITDA basis, focusing on gaming terminals in authorized non-casino locations across Illinois, Montana, and Nevada.