The following is a summary of the Accel Entertainment, Inc. (ACEL) Q2 2024 Earnings Call Transcript:
Financial Performance:
Accel Entertainment reported Q2 2024 revenue of $309 million, a year-over-year increase of 5.7%.
Adjusted EBITDA was $50 million, up from the previous year by 6.5%.
Net debt at the end of Q2 stood at approximately $300 million, with liquidity at $522 million.Capital expenditures for Q2 were $18 million.
Business Progress:
Announced the acquisition of Fairmount Park adding a master sports betting license and a racetrack among other assets.
Added almost 50 new gaming locations, significantly in Illinois and Montana.
Preparations underway for the introduction of the TITO system to enhance player convenience.
Opportunities:
Expanding organically in Illinois, Nebraska, and Georgia through licensing and conversion of competitor locations.
Positioning for future opportunities in new states likely to legalize local gaming.
Active M&A pipeline highlighted by the recent acquisition of Fairmount Park, indicating potential growth in the local gaming market.
More details: Accel Entertainment IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
