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Dec 30, 2024
Accel Entertainment Q4 2024 Earnings Report
Accel Entertainment reported its financial and operating results for the three months and year ended December 31, 2024.
Key Takeaways
Accel Entertainment concluded 2024 with strong performance, achieving record revenues for both Q4 and the full year, driven by an increase in locations and gaming terminals. The company also expanded into new markets through strategic acquisitions and replenished its share repurchase program.
Record revenues of $317.5 million for Q4 2024, an increase of 6.9% compared to Q4 2023.
Ended Q4 2024 with 4,117 locations, a 3.9% increase compared to Q4 2023.
Ended Q4 2024 with 26,346 gaming terminals, a 5.0% increase compared to Q4 2023.
Adjusted EBITDA of $47.4 million for Q4 2024, an increase of 6.2% compared to Q4 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Accel Entertainment anticipates continued growth and strong returns on capital, driven by strategic acquisitions, expansion into new markets like Louisiana, and ongoing construction for casino operations in Illinois. The company expects to maintain attractive low-teens returns on capital, generate more free cash flow, and improve trading multiples.
Positive Outlook
- Anticipates maintaining attractive low-teens returns on capital.
- Expects to generate more free cash flow.
- Believes it will improve trading multiples, making Accel a compelling investment opportunity.
- Expansion into the Louisiana market with the acquisition of Toucan Gaming.
- Construction on Phase I of the Collinsville casino is underway, with an anticipated opening in Q2 2025.
Challenges Ahead
- The timing and actual number of shares repurchased will depend on various factors, including price, general business and market conditions, and alternative investment opportunities.
- The share repurchase program does not obligate Accel to acquire any particular amount of shares.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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