secwatch.observer — SEC 8-K summary
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Issuer:     Accel Entertainment, Inc. (ACEL)
CIK:        0001698991
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0001698991-23-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Accel Entertainment reports record 2022 revenue of $970M, net income $74M, adjusted EBITDA $162M
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- Q4 revenue $278M, net income $13M, adjusted EBITDA $43M; full year revenue $970M (+32% YoY), net income $74M (+135% YoY).
- Ended 2022 with 3,598 locations (+39%) and 23,150 gaming terminals (+70%) driven by Century acquisition.
- Net debt $318M (+123% YoY) due to $160M borrowing for Century; repurchased $79M of stock in 2022.
- Century acquired Progressive (Montana) in Dec 2022, adding 26 locations and ~300 terminals.
- CEO cites strong quarter and integration progress; asset-light model remains competitive.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698991/000169899123000005/0001698991-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698991/000169899123000005/acel-20230228.htm
  HTML page:      https://secwatch.observer/filing/0001698991-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer