Welcome to our dedicated page for Accel Entertainment news (Ticker: ACEL), a resource for investors and traders seeking the latest updates and insights on Accel Entertainment stock.
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) reported strong financial results for Q3 2022, achieving revenue of $267.0 million, a 38% increase from Q3 2021. Net income grew by 108% to $22.4 million. The company expanded its footprint, ending the quarter with 3,517 locations and 22,429 gaming terminals, marking increases of 38% and 68%, respectively, primarily due to its acquisition of Century Gaming. Despite a 109% rise in net debt to $309 million, Accel reaffirmed its 2022 guidance for revenue and EBITDA. The CEO highlighted their growth strategy and shareholder returns amidst inflationary pressures.
Accel Entertainment, Inc. (NYSE: ACEL) will release its third-quarter financial results for the period ended September 30, 2022, after market close on November 8, 2022. A conference call will follow at 5:30 PM ET to discuss these results. Accel claims to be a leading distributed gaming operator in the U.S., focusing on gaming terminal operations in non-casino venues across Illinois, Montana, and Nevada. Interested parties can register for the live webcast or access the replay on Accel’s investor relations website.
Accel Entertainment, Inc. (NYSE: ACEL) reported Q2 2022 revenue of $227.9 million, up 13% year-over-year. Net income soared 81% to $22.5 million. The company ended the quarter with 3,489 locations and 22,128 gaming terminals, reflecting increases of 38% and 68%, respectively. However, net debt rose 69% to $282 million due to a $160 million credit facility draw for acquiring Century Gaming. Updated guidance projects $960 - $990 million in revenue and $160 - $165 million Adjusted EBITDA for 2022, including Century's pro forma results.
Accel Entertainment, Inc. (NYSE: ACEL) will release its financial results for Q2 2022 on August 9, 2022, after market close. A conference call to discuss these results is scheduled for August 10, 2022, at 8:30 AM ET. Interested participants can register for the live webcast at this link. Accel is a leading distributed gaming operator in the U.S., specializing in VGT installation and maintenance across various non-casino locations in Illinois.
Accel Entertainment has successfully completed the acquisition of Century Gaming for $164.2 million in cash and stock. This strategic move adds over 8,300 gaming terminals and more than 900 licensed locations across Montana and Nevada, enhancing Accel's footprint in the Western U.S. The acquisition also includes manufacturing capabilities through Grand Vision Gaming, and additional rewards programs. Accel CEO Andy Rubenstein expressed enthusiasm about future growth opportunities within these markets.
Accel Entertainment, Inc. (NYSE: ACEL) reported strong Q1 2022 results, showcasing a 34% revenue increase year-over-year to $196.9 million. Net income surged to $15.8 million, a 952% rise from Q1 2021. Adjusted EBITDA grew 37% to $35.2 million. The company expanded its operations, ending the quarter with 2,565 locations and 13,663 video gaming terminals, representing increases of 4% and 7% respectively. Net debt decreased by 22% to $147 million. Additionally, Accel is on track to acquire Century Gaming, Inc., expected to close by the end of May.
Accel Entertainment, Inc. (NYSE: ACEL) announced it will release its financial results for Q1 2022 after market close on May 4, 2022. The company will host a conference call on May 5, 2022, at 11:00 AM CT to discuss its operating and financial results. Interested parties can register for the live webcast via the provided link. Accel is a prominent distributed gaming operator in the US, particularly in Illinois, focusing on the installation and operation of video gaming terminals in non-casino locations.
Accel Entertainment has appointed Mathew Ellis as Chief Financial Officer, effective May 1, 2022. Ellis, formerly the Senior Vice President of Corporate Strategy, succeeds Brian Carroll, who will assist during the transition before retiring at the end of 2023. CEO Andy Rubenstein highlighted Accel's financial strengths and Ellis's role in advancing the company’s strategic direction and investor relations. Ellis aims to maintain Accel's competitive edge in the gaming industry while enhancing shareholder returns, leveraging his experience in M&A and financial planning.
Accel Entertainment, Inc. (NYSE: ACEL) reported strong financial results for Q4 and the full year 2021. Revenue reached $192 million for Q4 and $735 million for the year, achieving record figures in revenue, net income, and adjusted EBITDA. Net income was $7 million for Q4 and $32 million for the year, with adjusted EBITDA of $33 million and $140 million, respectively. The company ended 2021 with 2,584 locations and 13,639 VGTs, marking increases of 6% and 11% year-over-year. Net debt decreased by 31% to $143 million.
Accel Entertainment, Inc. (NYSE: ACEL) has announced that it will release its financial and operating results for the fourth quarter and full year ending December 31, 2021, after market close on March 9, 2022. A conference call to discuss these results will take place on March 10, 2022, at 11:00 AM CT (12:00 PM ET). Interested parties can join the live webcast by registering at the provided link. Accel is a leading distributed gaming operator in the U.S., specializing in the operation of video gaming terminals in various non-casino locations across Illinois.
FAQ
What is the current stock price of Accel Entertainment (ACEL)?
What is the market cap of Accel Entertainment (ACEL)?
What does Accel Entertainment, Inc. specialize in?
How does Accel generate revenue?
What recent financial performance has Accel reported?
What was the impact of the Century Gaming acquisition?
How does Accel support its partner establishments?
What is Accel's strategic focus moving forward?
What is Accel's financial condition as of Q1 2024?
Who are Accel's primary clients?
What makes Accel's business model unique in the gaming industry?
Who is the CEO of Accel Entertainment?
