Accel Q2 revenue $227.9M (+13% YoY), net income $22.5M (+81%), closes Century acquisition

Accel Entertainment, Inc.

2022-Q2 EPS reported $0.41 revenue$424,760,000

Q2 revenue $227.9M, up 13% YoY; net income $22.5M, up 81%; adjusted EBITDA $42.7M essentially flat.
Century Gaming acquisition closed June 1, 2022; also acquired VVS, Inc. for $9.5M on August 1.
Locations grew 38% to 3,489; gaming terminals grew 68% to 22,128; net debt $282M, up 69% due to Century borrowings.
Updated 2022 guidance: revenue $960-990M, adj EBITDA $160-165M; pro forma with Century: revenue $1.07-1.13B, adj EBITDA $170-175M.
Repurchased $25M of Class A-1 common stock in Q2; Georgia lottery extended Gift Card Pilot Program to all Class B locations.

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