Accel Entertainment announces 43% revenue increase for Q3
The company ended the period with 2,549 locations, an 8% increase from Q3 of 2020.
Accel Entertainment, a US-based gaming operator, has today confirmed its financial results for the third quarter of 2021.
The operator ended Q3 with 2,549 locations, growing 8% year-on-year. In these locations, Accel operates 13,384 video gaming terminals, expanding by 15% when compared to the prior year.
Accel CEO Andy Rubenstein commented: “We are pleased to report another strong quarter marked by stellar financial results, major business milestones and strategic location wins.
“These results were primarily driven by our sixth VGT installations, the completion of higher bet limit software upgrades and continued optimization of our product offering, which continues to support retention of our existing player base while yielding new customers wins.”
Revenue for the period ending September 30 reached $193.4m, a 43% year-on-year increase. In turn, net income for Q3 is $10.8m, growing by 58%.
Meanwhile, the company’s adjusted EBITDA grew 63%, coming in at $37.6m.
“We also increased our borrowing power with the amendment of our credit facility, providing us the financial flexibility to continue capturing growth across Illinois and beyond,” continued Rubenstein.
“This is truly an exciting time for Accel and we are confident our asset-light, hyper-local business model continues to give us a unique competitive advantage in the industry and positions us to capitalize on the future.”
Lastly, Accel Entertainment ended Q3 with $148m of net debt, falling 13% from 2020.
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