Accel generates record yearly revenue with $1.2bn during FY2024

Accel Entertainment has reported the financial results for both the fourth quarter of 2024 and full year (FY), producing all-time highs in quarterly and yearly revenue after generating $317.5m and $1.2bn, respectively, throughout the periods. 

While revenue increased by 5.2% year-over-year during FY2024 and 6.9% from the prior year period for Q4 2024, net income still decreased for both periods according to Accel. 

Net income during the fourth quarter of 2024 was reported to be $8.4m, representing a decrease of 47.5% year-over-year. Accel managed to generate $35.3m of net income during FY2024, but still witnessed a decrease of 22.6% from the prior year period. 

“I am very pleased to report that we ended 2024 on very strong footing, positioning us well as we enter 2025. We delivered another record quarter in terms of revenue, entered the Louisiana market with our acquisition of Toucan Gaming and closed on our acquisition of FanDuel Sportsbook & Horse Racing, where we have already started construction on Phase I of our casino in anticipation of opening in the second quarter of 2025,” Accel CEO Andy Rubenstein said. 

“We continue to strengthen our core and are expanding our offerings, which we believe will maintain attractive low-teens returns on capital, generate more free cash flow and improve our trading multiples, making Accel a compelling investment opportunity.”

Good to know: Accel announced that its acquisition of Fairmount Holdings, the owner of the FanDuel sportsbook and racetrack in Collinsville, Illinois, was successfully completed on December 2, 2024

Illinois managed to generate the most income for Accel during both Q4 and FY2024, reporting $231.3m during the fourth quarter of 2024 and $906.6m throughout the full year. The state accounted for the vast majority of Accel’s revenue for FY2024, with no other state having generated more than $161.7m reported from Montana. 

Interestingly enough, the state of Nevada was the only area where Accel currently distributes gaming terminals that reported a decrease in revenue year-over-year during FY2024, falling by nearly 2.2% from the prior year period for a total of $114.6m. 

While net income decreased during both periods, adjusted EBITDA still managed to increase by 6.2% and 4.2%, respectively, during the fourth quarter of 2024 and full year. Accel’s adjusted EBITDA reached $47.4m throughout Q4 2024, contributing to the $189.1m of adjusted EBITDA generated for FY2024.

The company also ended Q4 2024 with a net debt of $314m, representing an increase of 11.8% from the prior year period.

Kirk Geller

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.