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Accel Entertainment Reports Record Revenue Growth

Accel Entertainment Reports Record Revenue Growth

Accel Entertainment ( (ACEL) ) has released its Q1 earnings. Here is a breakdown of the information Accel Entertainment presented to its investors.

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Accel Entertainment, Inc. is a leading distributed gaming operator in the United States, specializing in the development of gaming terminals and brick-and-mortar casinos, as well as horse racing venues. In its latest earnings report, Accel Entertainment announced record first-quarter revenues of $323.9 million, marking a 7.3% increase from the previous year. The company also reported a significant rise in net income, reaching $14.6 million, which is a 97% increase compared to the same period last year. Adjusted EBITDA also saw a 7.1% increase, amounting to $49.5 million.

The company’s strategic expansion efforts are evident as it ended the quarter with 4,391 locations and 27,180 gaming terminals, reflecting increases of 2.9% and 4.4% respectively. Notably, Accel commenced operations at Fairmount Park Casino & Racing, which is expected to be a significant growth driver. The company also repurchased 1 million shares of its common stock, demonstrating confidence in its financial health.

Accel’s revenue growth was driven by strong performances in several states, with notable increases in Georgia and Nebraska. However, Nevada experienced a slight decline in revenue. The company’s expansion into Louisiana contributed significantly to its revenue, marking a new market entry.

Looking ahead, Accel Entertainment remains focused on executing its growth plans, aiming to enhance shareholder value through strategic expansions and maintaining attractive returns on capital. The company is optimistic about leveraging its operational strengths to continue delivering robust financial performance.

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