Company: ACEL
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001698991-25-000034
Chunk: 72

Company: Accel Entertainment, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 72
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 revenues for the six months ended June 30, 2025 were $659.8 million, an increase of $48.6 million, or 7.9%, compared to the prior-year period. This increase was primarily driven by higher net gaming revenue of $34.5 million, which reflected an increase in gaming locations and terminals and higher ATM fees and other revenue of $26.9 million, an increase of $16.1 million, or 149.9%, which included revenue from our casino & racing operations. Net revenues by state are presented below:

(in thousands)Six Months EndedJune 30,Increase / (Decrease)20252024Change ($)Change (%)Net revenues by state:Illinois$478,913 $451,956 $26,957 6.0 %Montana81,243 80,724 519 0.6 %Nevada54,695 58,531 (3,836)(6.6)%Louisiana18,655 — 18,655 N/ANebraska15,111 12,083 3,028 25.1 %Georgia9,139 5,761 3,378 58.6 %Other2,065 2,175 (110)(5.1)%Total net revenues$659,821 $611,230 $48,591 7.9 %

Cost of revenue

Cost of revenue for the six months ended June 30, 2025 was $451.2 million, an increase of $28.7 million, or 6.8%, compared to the prior-year period, driven by higher net gaming revenue and revenue from our racing and casino operations, as described above.

Cost of manufacturing goods sold

Cost of manufacturing goods sold for the six months ended June 30, 2025 was $3.0 million, a decrease of $1.4 million, or 31.5%, compared to the prior-year period primarily due to lower manufacturing revenue.

General and administrative

General and administrative expenses for the six months ended June 30, 2025 were $107.9 million, an increase of $13.7 million, or 14.6%, compared to the prior-year period. The increase was attributable to compensation-related costs, as we continue to grow our operations, partially offset by lower parts and repair expense. 

Depreciation and amortization of property and equipment

Depreciation and amortization of