Accel Entertainment’s Winning Streak Continues with a Remarkable Third Quarter

Accel Entertainment experienced a stellar third quarter in 2022, generating $2.67 billion in income. This represents a substantial 38% surge in comparison to the corresponding period the previous year!

Their earnings also soared, reaching $22.4 million – a remarkable 108% rise from the third quarter of 2021. Furthermore, their adjusted EBITDA attained $41.1 million, a robust 9% increase.

They have been actively broadening their reach, repurchasing a portion of their own shares and incorporating 68% more gaming machines into their inventory. Naturally, such significant endeavors come at a cost. Their liabilities have risen, primarily attributed to a sizable loan secured for the acquisition of Century Gaming.

However, their expansion plans are far from over. Accel invested in additional acquisitions, securing gaming holdings in Nevada and adding River City Amusement Company to their holdings.

CEO Andy Rubenstein expressed satisfaction with their results, emphasizing their localized strategy as a crucial advantage during these unpredictable economic conditions. They continue to seek new prospects throughout the US, all while rewarding their investors with a share of the profits.

Although they are expanding their footprint, Illinois remains their most lucrative market, contributing a significant $2.009 billion in the third quarter.

The Land of Lincoln stands out as a gaming industry leader, with an impressive 2,596 venues. A key force in this sector, Accel Entertainment, provides significantly more machines in Illinois than in Montana (586) and Nevada (335) put together! With an eye on the future, Accel Entertainment aims to broaden its reach by the close of 2022. Their projections indicate a presence in roughly 3,550 to 3,600 spots, boasting a remarkable 22,700 to 23,200 gaming terminals throughout the state.