Company: ACEL
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001698991-25-000023
Chunk: 13

Company: Accel Entertainment, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 13
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 (1) prospectively to financial statements issued for reporting periods after the effective date of this update or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the potential effect that this ASU will have on its financial statement disclosuresOn December 14, 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid disaggregated by jurisdiction. The new requirements will be effective for annual periods beginning after December 15, 2024, and will be applied on a prospective basis with the option to apply the standard retrospectively. The Company is currently evaluating the potential effect that this ASU will have on its financial statement disclosures.Other recently issued accounting standards or pronouncements have been excluded because they are either not relevant to the Company, or are not expected to have, or did not have, a material effect on its condensed consolidated financial statements.

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Table of ContentsAccel Entertainment, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements — (Continued)

Note 3. Inventories

Inventories consist of the following as of March 31, 2025 and December 31, 2024 (in thousands):March 31,2025December 31, 2024Raw materials and manufacturing supplies$6,685 $6,113 Finished products1,873 2,009   Total inventories$8,558 $8,122 As of March 31, 2025 and December 31, 2024, no write down of inventory was determined necessary.

Note 4. Investment in Convertible Notes

On May 31, 2023, the Company and Gold Rush Amusements, Inc. (“Gold Rush”), another terminal operator in Illinois, entered into a settlement agreement which resolved any and all lawsuits and all outstanding obligations under the Company’s investment in Gold Rush’s convertible notes. As part of the settlement, the Company had a receivable from Gold Rush of $1.5 million as of March 31, 2025, which was paid in full on April 30, 2025. 

Note 5. Property and Equipment

Property and equipment consist of the following as of March 31, 2025, and December 31, 2024 (