Accel Entertainment, Inc.
Business
Accel Entertainment is a distributed gaming operator and casino & racing developer providing gaming-as-a-service solutions to bars, restaurants, convenience stores, truck stops, and fraternal establishments across the United States. The company installs, maintains, operates and services gaming terminals, redemption devices, ATMs, and amusement equipment at location-partner venues, and designs and manufactures gaming terminals through its Grand Vision Gaming subsidiary. Accel operates distributed gaming in Illinois, Montana, Nevada, Nebraska, Georgia, Louisiana, Iowa, and Pennsylvania, and owns and operates Fairmount Park Casino & Racing in Illinois, which features a thoroughbred racetrack, casino with gaming positions, and sportsbook partnership with FanDuel.
Summary from 10-K filed 2026-03-03
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total net revenues | 1,331 | 1,231 | 1,170 | 970 | 735 | |
| Cost of revenue (exclusive of depreciation and amortization expense shown below) | 908 | 852 | 810 | 666 | 494 | |
| Cost of manufacturing goods sold (exclusive of depreciation and amortization expense shown below) | 6 | 7 | 8 | 5 | 0 | |
| General and administrative | 219 | 195 | 180 | 146 | 111 | |
| Depreciation and amortization of property and equipment | 53 | 44 | 38 | 29 | 25 | |
| Amortization of intangible assets and route and customer acquisition costs | 25 | 23 | 21 | 17 | 22 | |
| Other expenses, net | 12 | 19 | 6 | 9 | 13 | |
| Total operating expenses | 1,223 | 1,140 | 1,063 | 873 | 665 | |
| Operating income | 108 | 91 | 107 | 97 | 70 | |
| Interest expense, net | 34 | 36 | 33 | 22 | 13 | |
| Loss from unconsolidated affiliates | 59,000 | 0 | 0 | — | — | |
| Loss on change in fair value of contingent earnout shares | 573,000 | 1 | 9 | −20 | 10 | |
| Gain on expiration of warrants | 0 | −13,000 | 0 | 0 | 0 | |
| Loss on debt extinguishment | 1 | 0 | 0 | 0 | 1 | |
| Income before income tax expense | 72 | 54 | 66 | 95 | 47 | |
| Income tax expense | 21 | 18 | 20 | 21 | 15 | |
| Net income | 51 | 35 | 46 | 74 | — | |
| Less: Net (loss) income attributed to redeemable noncontrolling interests | −198,000 | 39,000 | 0 | 0 | — | |
| Net income attributable to Accel Entertainment, Inc. | 51 | 35 | 46 | 74 | 32 | |
| Basic (in usd per share) | 0.61 | 0.42 | 0.53 | 0.82 | 0.34 | |
| Diluted (in usd per share) | 0.6 | 0.41 | 0.53 | 0.81 | 0.33 | |
| Basic (in shares) | 85 | 84 | 86 | 91 | 94 | |
| Diluted (in shares) | 86 | 85 | 87 | 91 | 95 | |
| Unrealized loss on interest rate caplets, net of taxes | −4 | −4 | −4 | 12 | 0 | |
| Comprehensive income | 47 | 32 | 41 | 86 | — | |
| Less: Comprehensive (loss) income attributed to redeemable noncontrolling interests | −198,000 | 39,000 | 0 | 0 | — | |
| Comprehensive income attributable to Accel Entertainment, Inc. | 48 | 31 | 41 | 86 | 31 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 297 | 281 | 262 | 224 | 199 | |
| Accounts receivable, net | 14 | 11 | 13 | 11 | 5 | |
| Prepaid expenses | 7 | 9 | 6 | 7 | 7 | |
| Inventories | 8 | 8 | 8 | 7 | 0 | |
| Income taxes receivable | 9 | 2 | — | — | — | |
| Interest rate caplets | 430,000 | 6 | 8 | 9 | 0 | |
| Other current assets | 7 | 9 | 15 | 9 | 5 | |
| Total current assets | 343 | 326 | 313 | 299 | 248 | |
| Property and equipment, net | 350 | 308 | 261 | 212 | 152 | |
| Route and customer acquisition costs, net | 31 | 23 | 19 | — | — | |
| Location contracts acquired, net | 186 | 203 | 176 | 189 | 151 | |
| Goodwill | 114 | 116 | 102 | 101 | 46 | |
| Other intangible assets, net | 61 | 54 | 23 | 23 | 0 | |
| Interest rate caplets, net of current | 0 | 479,000 | 5 | 11 | 0 | |
| Other assets | 17 | 18 | 14 | 9 | 3 | |
| Total noncurrent assets | 410 | 414 | 339 | 352 | 216 | |
| Total assets | 1,103 | 1,048 | 913 | 863 | 616 | |
| Current maturities of debt | 38 | 34 | 28 | 23 | 18 | |
| Current portion of route and customer acquisition costs payable | 3 | 2 | 2 | 2 | 2 | |
| Accrued location gaming expense | 6 | 5 | 9 | 8 | 4 | |
| Accrued state gaming expense | 21 | 20 | 18 | 17 | 11 | |
| Accounts payable and other accrued expenses | 51 | 42 | 36 | 22 | 15 | |
| Accrued compensation and related expenses | 10 | 12 | 13 | 11 | 9 | |
| Current portion of consideration payable | 4 | 3 | 3 | 8 | 13 | |
| Total current liabilities | 131 | 118 | 110 | 90 | 72 | |
| Debt, net of current maturities | 570 | 561 | 514 | 519 | 324 | |
| Route and customer acquisition costs payable, less current portion | 10 | 7 | 5 | 5 | 4 | |
| Consideration payable, less current portion | 16 | 15 | 4 | 7 | 13 | |
| Contingent earnout share liability | 34 | 33 | 32 | 23 | 43 | |
| Other long-term liabilities | 9 | 8 | 7 | 3 | 17,000 | |
| Deferred income tax liability, net | 59 | 47 | 43 | 37 | 2 | |
| Total long-term liabilities | 698 | 671 | 605 | 594 | 386 | |
| Temporary equity - Redeemable noncontrolling interest | 4 | 4 | 0 | 0 | 0 | |
| Preferred Stock, par value of $0.0001; 1,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 229 | 222 | 203 | 194 | 188 | |
| Treasury stock, at cost | −146 | −105 | −112 | — | −9 | |
| Accumulated other comprehensive income | 188,000 | 4 | 8 | 12 | 0 | |
| Accumulated earnings | 186 | 135 | 99 | 54 | −20 | |
| Total stockholders' equity | 270 | 255 | 198 | — | — | |
| Total liabilities, temporary equity, and stockholders' equity | 1,103 | 1,048 | 913 | 863 | 616 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization of property and equipment | 53 | 44 | 38 | 29 | 25 | |
| Impairment of intangible assets | 0 | 846,000 | 0 | 0 | — | |
| Amortization of debt issuance costs | 1 | 2 | 2 | 2 | 2 | |
| Stock-based compensation expense | 12 | 12 | 9 | 7 | 6 | |
| Loss (gain) on disposal of property and equipment | 1 | 606,000 | −10,000 | −608,000 | −63,000 | |
| Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable | 1 | 1 | 935,000 | 757,000 | 711,000 | |
| Remeasurement of contingent consideration | 3 | 6 | −522,000 | −4 | 4 | |
| Payments on consideration payable | −1 | −3 | −5 | −4 | −3 | |
| Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration | 2 | 2 | 1 | 2 | 3 | |
| Deferred income taxes | 13 | −2 | 7 | 13 | 6 | |
| Prepaid expenses and other current assets | 2 | −788,000 | −987,000 | −2 | −5 | |
| Accounts receivable, net | −4 | 5 | −2 | −2 | 0 | |
| Inventories | −57,000 | −343,000 | −734,000 | −500,000 | 0 | |
| Income tax receivable | −7 | −1 | 264,000 | −349,000 | 3 | |
| Route and customer acquisition costs | −12 | −8 | −3 | −4 | −3 | |
| Route and customer acquisition costs payable | 3 | 2 | −441,000 | 358,000 | 97,000 | |
| Accounts payable and accrued expenses | 5 | −1 | 15 | 2 | 4 | |
| Accrued compensation and related expenses | −2 | −531,000 | 2 | 95,000 | 3 | |
| Other assets | 2 | 3 | −6 | −5 | 3 | |
| Net cash provided by operating activities | 151 | 121 | 133 | 108 | 111 | |
| Purchases of property and equipment | −89 | −67 | −82 | −47 | −30 | |
| Proceeds from the sale of property and equipment | 2 | 984,000 | 2 | 2 | 1 | |
| Proceeds from the settlement of convertible notes | 2 | 0 | 32 | 0 | 0 | |
| Deposits against a portion of the purchase price on a pending business acquisition | 0 | 0 | −5 | — | — | |
| Acquisition of indefinite-lived operating license | −9 | 0 | 0 | — | — | |
| Investment in unconsolidated affiliate | 0 | −5 | 0 | 0 | — | |
| Business and asset acquisitions, net of cash acquired | −5 | −54 | −7 | −144 | −6 | |
| Net cash used in investing activities | −101 | −124 | −60 | −189 | −35 | |
| Proceeds from debt | 682 | 175 | 169 | 240 | 54 | |
| Payments on debt | −667 | −123 | −169 | −45 | −56 | |
| Payments for debt issuance costs | −4 | 0 | −300,000 | 0 | −364,000 | |
| Payments for repurchase of common shares | −40 | −25 | −30 | −79 | −9 | |
| Payments on interest rate caplets | −993,000 | −985,000 | −965,000 | −873,000 | 0 | |
| Proceeds from exercise of stock-based awards | 0 | 289,000 | 375,000 | 366,000 | 2 | |
| Payments on consideration payable | −1 | −588,000 | −3 | −9 | −3 | |
| Payments on finance leases | −245,000 | −221,000 | −17,000 | 0 | 0 | |
| Tax withholding on stock-based payments | −3 | −2 | −1 | −78,000 | −91,000 | |
| Net cash (used in) provided by financing activities | −35 | 23 | −35 | 107 | −12 | |
| Net increase in cash and cash equivalents | 15 | 20 | 37 | 25 | 64 | |
| Interest, net | 32 | 33 | 30 | 20 | 10 | |
| Income taxes, net | 16 | 22 | 12 | 8 | 9 | |
| Purchases of property and equipment in accounts payable and accrued liabilities | 17 | 13 | 15 | 10 | 3 | |
| Purchases of equipment financed through vendor | 5 | 577,000 | 0 | — | — | |
| Deferred premium on interest rate caplets | 83,000 | 1 | 2 | 3 | 0 | |
| Fair value of treasury stock (canceled) issued in a business combination | −2 | 40 | 0 | — | — | |
| Total identifiable net assets acquired | 5 | 110 | 7 | 185 | 7 | |
| Less cash acquired | 0 | −6 | 0 | −33 | −646,000 | |
| Less contingent consideration | 0 | −6 | 0 | −3 | −106,000 | |
| Less fair value of treasury stock issued | 0 | −40 | 0 | −6 | 0 | |
| Less advances on purchase price paid in prior period | 0 | −5 | 0 | 0 | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Accel Entertainment, Inc.'s CIK number?
Accel Entertainment, Inc.'s SEC CIK number is 0001698991 (1698991). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Accel Entertainment, Inc.'s SEC filings?
All of Accel Entertainment, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Accel Entertainment, Inc. last report earnings?
Accel Entertainment, Inc. (ACEL) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001698991-26-000036). This is Accel Entertainment, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Accel Entertainment, Inc.'s most recent earnings 8-K?
Accel Entertainment, Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001698991-26-000036. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Accel Entertainment, Inc.'s latest earnings 8-K →
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