Accel Entertainment ( (ACEL) ) has released its Q4 earnings. Here is a breakdown of the information Accel Entertainment presented to its investors.
Accel Entertainment, Inc. is a leading distributed gaming operator in the United States, providing full-service gaming solutions to non-casino locations such as bars and restaurants. The company is known for its turnkey gaming services and expansion into new markets.
Accel Entertainment has reported record revenues for both the fourth quarter and the full year of 2024, with Q4 revenues reaching $317.5 million, a 6.9% increase from the previous year. However, net income for the same period saw a significant decline of 47.5%, amounting to $8.4 million. The company also announced the acquisition of Toucan Gaming in Louisiana and the FanDuel Sportsbook & Horse Racing in Illinois, marking its strategic expansion into new markets.
Key financial metrics from the report include a 5% increase in gaming terminals, totaling 26,346 by the end of 2024, and an adjusted EBITDA of $47.4 million for Q4, reflecting a 6.2% increase. The company also ended the year with $314 million in net debt, an 11.8% increase from the previous year. Additionally, Accel has replenished its share repurchase program to $200 million, signaling confidence in its financial stability and growth prospects.
Despite the decline in net income, Accel’s management remains optimistic about the company’s future. The CEO highlighted the company’s strong position as it enters 2025, with ongoing construction on a new casino in Illinois and expectations of continued growth and expansion in the gaming sector.