Accel Entertainment, Inc. Q3 2025 Earnings Recap

Accel Entertainment reported strong Q3 2025 results with a 9.1% year-over-year revenue increase to $330 million, driven by consistent performance across its core and developing markets.

Key Takeaways

• Net income of $13 million alongside an 11.5% rise in adjusted EBITDA to $51 million, showcasing effective capital allocation and operational efficiency.
• Illinois and Montana dominate revenue streams, accounting for 82% of total revenue, with Illinois benefiting from same-store growth and new machine placements.
• Significant progress in developing markets, particularly Nebraska and Georgia, which achieved double-digit revenue growth driven by location expansions.
• Strengthened balance sheet with a $900 million senior secured credit facility completed; total stock repurchases for the year reached approximately $23.7 million.
• Continued focus on technology enhancements and disciplined M&A strategy in a $15 billion fragmented local gaming market to drive future growth.