Accel Entertainment has released its financial figures and operating results for the second quarter of 2022. The period ended on June 30.
The company experienced fiscal growth across the board. Revenue in Q2 climbed to $227.9m, up by 13% when compared to results from Q2 2021.
Net income rose by 81% year-over-year and totaled $22.5m for the quarter.
Adjusted EBITDA remained at a steady figure during the quarter, reaching $42.7m.
The company experienced significant domestic growth throughout the quarter. Its number of locations grew by 38% to reach 3,489 by the end of the second quarter.
When compared to last year’s corresponding quarter, the number of gaming terminals grew to 22,128, an increase of 68%.
Accel CEO Andy Rubenstein commented: “We are pleased with our performance this quarter and are focused on executing our growth strategy.
“We remain confident that our locally focused business model creates a platform to outperform in difficult times and thrive under normal circumstances. We aim to leverage our proven business model and extremely strong financial position to continue our expansion and return capital to shareholders.”
In addition to the company’s Q2 financial accomplishments, the operator closed its previously announced transaction to acquire Century Gaming, Inc. on June 1. The company purchased Century for a total of $164.2m in cash and stock, including working capital.
The transaction brought with it more than 900 licensed locations across Montana and Nevada and more than 8,300 gaming terminals. Closing the deal also enhanced Accel’s portfolio by adding design and manufacturing operations through Century’s i-Rewards and Gamblers Bonus programs, as well as through Grand Vision Gaming (GVG).
