Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 181

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 181
---
 increase was driven primarily by an increase in net gaming revenue of $59.2 million, or 5.3%, which reflected an increase in gaming locations and terminals. Total net revenues by state are presented below (in thousands, except %s):

Year EndedDecember 31, 2024Increase / (Decrease)20242023ChangeChange %Total net revenues by state:Illinois$906,572 $867,200 $39,372 4.5 %Montana161,698 154,402 7,296 4.7 %Nevada114,551 117,074 (2,523)(2.2)%Nebraska25,384 19,043 6,341 33.3 %Louisiana (1)5,445 — 5,445 100.0 %All other17,322 12,701 4,621 36.4 %Total net revenues$1,230,972 $1,170,420 $60,552 5.2 %

(1)  Revenues for Louisiana only represents two months of operations.

36

Cost of revenue

Total cost of revenue for the year ended December 31, 2024 was $852.4 million, an increase of $42.8 million, or 5.3%, compared to the prior year due primarily to higher net gaming revenue, as described above. 

Cost of manufacturing goods sold

Cost of manufacturing goods sold for the year ended December 31, 2024 was $7.1 million, a decrease of $0.6 million, or 7.4%, compared to the prior year due primarily to lower manufacturing revenue.

General and administrative

Total general and administrative expenses for the year ended December 31, 2024 were $194.7 million, an increase of $14.5 million, or 8.0%, compared to the prior year. The increase was attributable to higher payroll-related costs, as we continue to grow our operations, as well as higher stock-based compensation expense, partially offset by lower legal settlements and parts and repair expense. 

Depreciation and amortization of property and equipment

Depreciation and amortization of property and equipment for the year ended December 31, 2024 was $44.0 million, an increase of $6.1 million, or 16.0%, compared to the prior year due to an increased number of gaming terminals.