Illinois-based gaming operator Accel Entertainment has this week announced its financial and operating results for the second quarter of 2021, ending June 30.
Q2 sees the company own 2,527 locations and 13,177 video gaming terminals, a year-on-year increase of 8% and 19% respectively.
Accel has also seen a substantial increase in per-location revenue from 2019, growing 35%. Total revenue for Q2 is $202m, the company’s highest ever quarterly earnings. The same can be said for its adjusted EBITDA of $43m, which is also the highest in the operator's history.
Accel Entertainment CEO Andy Rubenstein (pictured) said: “We are pleased to report exceptional results for the second quarter of 2021. We delivered both record-breaking adjusted EBITDA and the strongest revenue quarter in Accel’s history. These results were supported by the completion of higher bet limit software upgrades, sixth VGT installations, as well as the economic recovery in the state of Illinois. We feel confident that the revenue we saw at the end of the second quarter should be sustainable, driven by the various initiatives we put in place over the past several quarters.”
The company has also announced a 33% reduction of debt since Q2 of 2020, with it now being $166.5m.
Overall net income for the gaming operator is $12.4m.
“These record results are a further proof point that our asset-light and hyper-local business model is highly effective and has well-positioned Accel for the long-term," added Rubenstein.
Accel primarily works in Illinois and has a focus on the installation, maintenance and operation of VGTs, redemption devices and other amusement products in non-casino locations like restaurants, bars, convenience stores and grocery stores.
