secwatch.observer — SEC 8-K summary
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Issuer:     Accel Entertainment, Inc. (ACEL)
CIK:        0001698991
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001698991-23-000027
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698991/000169899123000027/0001698991-23-000027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698991/000169899123000027/acel-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001698991-23-000027

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