Accel Entertainment reported record quarterly revenue of $335.9 million in the second quarter, an increase of 8.6% year-over-year.
But as the company cements its role as a major distributor of video gaming terminals, redemption machines, and amusement devices, CEO Andy Rubenstein said there are no plans to expand the company, as it did with the acquisition of Fairmont Park in Collinsville, Illinois.
“We’re always opportunistic on acquisitions, but I would tell you, consistent with our history, we’re not looking to lever up the company in any extreme way,” Rubenstein said during Tuesday’s investors call. “We’ve always played it relatively conservatively. We have plenty of availability and our credit facility, we’re about to refresh that. And obviously the company generates significant cash flow.
“So as we move forward, we’re evaluating opportunities to best deploy that cash and like the recent opportunities that we saw both at Fairmont and in Louisiana (with Toucan Gaming), we take advantage of those opportunities. I would expect that we would be consistent and looking where the opportunities are adjacent or in actually involved with the markets that we’re in, and we look to continue to grow with those, those different opportunities.”
Accel ended the quarter with 4,427 locations, an increase of 3.1% compared to second quarter 2024, and 27,388 gaming terminals, an increase of 3.4% year-over-year. Net income was $7.3 million for the quarter, down 50.2% compared to the same time period in 2024 attributable to a loss on the change in the fair value of the contingent earnout shares compared to a gain in the prior period.
Adjusted EBITDA also was a record, $53.2 million, a quarterly increase of 7.1% compared to second quarter 2024.
Racing operations began at Fairmount Park in April and Accel is hopeful that, with time, the track will begin to produce dividends.
“Some (expectations) have to do with casino, racing, the sportsbook, and then food and beverage,” said U.S. Gaming and Interim Chief Financial Officer Mark Phelan. “We’ve seen positive indicators for all four that kind of matched our internal expectations. We’re pretty excited about the asset. It’s still very early days, the 13th week. I think we commented that we think it’s going to be a significant contributor in ‘26 and we still feel pretty confident about that.”
