Q3 2025 Accel Entertainment Inc Earnings Call Transcript
Key Points
- Accel Entertainment Inc (ACEL) reported a 9.1% year-over-year increase in total revenue, reaching $330 million for the third quarter.
- Adjusted EBITDA grew by 11.5% to $51 million, reflecting consistent execution and expansion across markets.
- The company successfully completed a $900 million senior secured credit facility, enhancing liquidity and reducing the cost of capital.
- Nebraska and Georgia markets showed strong double-digit revenue growth, driven by location expansion and market share gains.
- The rollout of ticket in, ticket out (TITO) functionality is expected to enhance player convenience and streamline operations, potentially boosting future revenue.
- Nevada experienced a 7.4% decline in revenue due to the loss of a key customer in 2024, resulting from a change in ownership.
- Despite overall revenue growth, the company faces challenges in maintaining stable machine counts in Illinois, with a focus on optimizing locations.
- The integration and ramp-up of new markets, such as Louisiana, are still in early stages, requiring further investment and optimization.
- The M&A environment remains uncertain, with seller expectations not significantly shifting despite changes in public equity valuations.
- Fairmount Park is still in the development stage, with ongoing evaluations needed for future expansion plans.
Good afternoon.
Thank you for attending the Accel Entertainment third-quarter '25 Earnings call. My name is Cameron, and I'll be your moderator for today. (Operator Instructions)
I would now like to pass the conference over to your host, Scott Levin. You may proceed.
Welcome to Accel Entertainment third-quarter '25 Earnings call. Participating on the call today are Andy Rubenstein, Accelâs Chief Executive Officer, Brett Summerer, Accelâs Chief Financial Officer, and Mark Phelan, Accelâs President of US Gaming.
Please refer to our website for the press release and supplemental information that will be discussed on this call. Today's call is being recorded and will be available on our website under events and presentations within the investor relations section of our website. Some of the comments in today's call may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
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