Accel Q1 revenue up 49% to $293.2M; net income down 42% on earnout adjustment

Accel Entertainment, Inc.

2023-Q1 EPS reported $0.11 revenue$293,208,000

Revenue $293.2M (+49% YoY); net income $9.2M (-42% YoY) due to $4.6M loss on contingent earnout shares.
Adjusted EBITDA $46.1M (+31% YoY); Illinois same-store sales grew 9%.
Locations 3,628 (+41% YoY); gaming terminals 23,497 (+72% YoY), driven by Century Gaming acquisition.
Net debt $309M, up 111% from Q1 2022 due to $160M borrowing for Century acquisition.
Repurchased ~$4M of Class A-1 common stock during Q1 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Accel Entertainment, Inc. reported first quarter ended March 31, 2023 results: revenue $293.2 million, net income $9.2 million.

Period: first quarter ended March 31, 2023
Revenue: $293.2 million
Net income: $9.2 million
Result: reported results

Exact text from the filing

of Century Gaming, Inc. ("Century") • Ended Q1 2023 with 23,497 gaming terminals; an increase of 72% compared to Q1 2022 primarily due to the acquisition of Century • Revenue of $293.2 million for Q1 2023, an increase of 49% compared to Q1 2022 • Net income of $9.2 million for Q1 2023; a decrease of 42% compared to Q1 2022 primarily attributable to the $4.6 million

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Source: SEC EDGAR

accession 0001698991-23-000027

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