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Earnings Call Summary | Accel Entertainment(ACEL.US) Q2 2024 Earnings Conference

Futu News ·  Jul 31 14:55  · Conference Call

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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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