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.