Accel Entertainment(US:ACEL)2025-05-05 20:17Financial Performance - Record revenues of $323.9 million in Q1 2025, an increase of 7.3% compared to Q1 2024[4] - Net income of $14.6 million for Q1 2025, an increase of 97.0% compared to Q1 2024[4] - Adjusted EBITDA of $49.5 million for Q1 2025, an increase of 7.1% compared to Q1 2024[4] - Net revenues for Q1 2025 reached $323.9 million, a 7.4% increase from $301.8 million in Q1 2024[23] - Net income attributable to Accel Entertainment, Inc. was $14.6 million, compared to $7.4 million in the same period last year, representing a 97.0% increase[23] - The company reported an operating income of $26.0 million for Q1 2025, compared to $25.6 million in Q1 2024, a 1.5% increase[23] - Basic earnings per share increased to $0.17 in Q1 2025, up from $0.09 in Q1 2024, reflecting an 88.9% growth[23] Operational Metrics - Ended Q1 2025 with 4,391 locations, an increase of 2.9% compared to Q1 2024[4] - Ended Q1 2025 with 27,180 gaming terminals, an increase of 4.4% compared to Q1 2024[4] - Location hold-per-day in Illinois increased by 2.9% to $885[8] Expenses and Liabilities - Total operating expenses increased to $298.0 million in Q1 2025, up from $276.3 million in Q1 2024, indicating a 7.8% rise[23] - Accel Entertainment's total current liabilities rose to $130.8 million from $118.4 million at the end of 2024, a 10.5% increase[25] Cash and Assets - Cash and cash equivalents as of March 31, 2025, were $271.9 million, slightly down from $281.3 million at the end of 2024[25] - Total assets decreased to $1.05 billion from $1.05 billion at the end of 2024, showing a marginal decline[25] Strategic Initiatives - Commenced casino and racing operations at Fairmount Park Casino & Racing in April 2025[4] - The company continues to focus on expanding into casino operations and horse racing, which are part of its strategic growth initiatives[17] - The company expects to maintain attractive low-teens returns on capital and generate growing free cash flow[3] Shareholder Actions - Repurchased 1 million shares of Accel Class A-1 common stock in Q1 2025 for approximately $10.2 million[4]