Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 90

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 90
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 and the limited operations of racing in the winter months, the casino and racing operating segment does not reach the criteria of being a reportable segment. As such, the Company will continue to report as a single reportable segment. Significant segment expenses, including disaggregated significant expenses that are presented within general and administrative expenses, are presented in the Company’s consolidated statement of operations and comprehensive income and are included in the table below.The following table presents financial information with respect to the Company’s single reportable segment, distributed gaming, for the years ended December 31, 2024, 2023, 2022. Additionally, the Company has included an "all other" operating segment which is its casino and racing business that is neither individually reportable nor able to be aggregated or combined with another operating segment. (in thousands,)December 31,202420232022Distributed gamingTotal net revenues (1)$1,229,577 $1,170,420 $969,797 Adjustments: (2)Cost of revenue852,226 809,524 666,126 Compensation related costs - operations (3)77,902 67,523 59,174 Compensation related costs - general and administrative (3)53,606 51,926 37,070 All other segment items (4)56,899 60,002 45,035 Adjusted EBITDA for distributed gaming$188,944 $181,445 $162,392 Adjusted EBITDA for “all other” operating segment (5)$203 $— $— Less Adjustments for:Depreciation and amortization of property and equipment$43,978 $37,906 $29,295 Amortization of intangible assets and route and customer acquisition costs22,577 21,211 17,484 Interest expense, net35,892 33,144 21,637 Emerging markets165 (948)2,598 Stock-based compensation12,204 9,416 6,840 Loss (gain) on change in fair value of contingent earnout shares1,276 8,539 (19,544)Gain on expiration of warrants(13)— — Other expenses, net19,339 6,453 9,320 Income before income tax expense$53,729 $65,724 $94,762 Income tax expense18,438 20,121 20