Accel Entertainment, Inc. reported a total net revenue of $335.9 million for the three months ended June 30, 2025, marking an increase of 8.6% compared to $309.4 million in the same period last year. The growth was primarily driven by a $20.7 million rise in net gaming revenue, attributed to an increase in gaming locations and terminals, alongside a significant 171.1% increase in ATM fees and other revenue, which included contributions from the recently opened Fairmount Park - Casino & Racing. However, manufacturing revenue saw a decline of 66.1%, reflecting timing issues related to software sales.
In terms of profitability, the company reported an operating income of $26.9 million, up 18.5% from $22.7 million in the prior year. Despite this, net income fell by 50.2% to $7.3 million from $14.6 million, largely due to a loss of $5.7 million on the change in fair value of contingent earnout shares, compared to a gain of $4.7 million in the previous year. The effective tax rate also increased to 41.2% from 21.2%, influenced by the aforementioned fair value changes.
Operationally, Accel Entertainment expanded its footprint, increasing the total number of locations to 4,427 as of June 30, 2025, up from 4,294 a year earlier. The number of gaming terminals also rose to 27,388, reflecting a 3.4% increase. The company continues to focus on enhancing its service offerings and customer support, which are critical in the competitive distributed gaming landscape. The recent acquisition of Fairmount Park has added a new dimension to its operations, contributing to both revenue and operational capabilities.
Looking ahead, Accel Entertainment anticipates continued growth driven by its strategic initiatives, including further geographic expansion and enhancements to its gaming offerings. The company plans to monitor macroeconomic conditions closely, particularly regarding interest rates and inflation, which could impact its operations and financial performance. With $264.6 million in cash and cash equivalents as of June 30, 2025, the company believes it has sufficient liquidity to meet its capital requirements and support ongoing operational needs.
About Accel Entertainment, Inc.
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