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Accel Entertainment generates $267m in revenue for Q3 2022

Accel Entertainment has posted $267m in revenue for Q3 2022, a 38% increase from Q3 2021.  

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The supplier has also made a net income of $22.4m for Q3, an increase of 108% compared to Q3 2021.  

Furthermore, Accel has posted adjusted EBITDA of $41.1m for Q3 2022, a 9% increase year-on-year.  

The supplier was able to repurchase $22.5m of Class A-1 common stocks for the quarter while increasing the number of gaming terminals it provides by 68%.  

However, Accel saw its debt increase 109% year-on-year, owing largely to borrowings of $160m as part of its credit facility in Q2 2022 to finance the acquisition of Century.  

Q3 2022 also saw Accel acquire the amusement assets of Nevada-based operator VVS for $9.5m, as well as the assets of River City Amusement Company for $2.8m.  

Accel CEO Andy Rubenstein said: “We're pleased with another strong quarter and remain focused on executing our growth strategy.  

“Our solid performance despite the current inflationary pressures further demonstrates the strength and resilience of our locally focused business model.  

“We expanded our footprint in Nebraska and continue to evaluate multiple opportunities across the country while returning capital to our shareholders." 

Accel primarily operates in Illinois, Nevada and Montana – and Illinois remains its most lucrative market in 2022, where $200.9m of its Q3 revenue was generated.

This is largely attributable to the superior amount of gaming locations – 2,596 – the company supplies its machines to in Illinois, compared to 586 gaming locations in Montana and 335 locations in Nevada.  

Accel expects to end 2022 with an estimated 22,700 –23,200 gaming terminals in circulation at an estimated 3,550-3,600 gaming locations.  


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