Company: ACEL
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001698991-25-000034
Chunk: 32

Company: Accel Entertainment, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 32
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 in second half of 2025. Significant segment expenses, including disaggregated significant expenses that are presented within general and administrative expenses, are presented in the Company’s condensed 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 three and six months ended June 30, 2025 and 2024. Additionally, the Company has included an "all other" operating segment which is its casino and racing operations that is neither individually reportable nor able to be aggregated or combined with another operating segment. 

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

(in thousands)Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Distributed gamingTotal net revenues (1)$326,378 $309,413 $644,440 $611,230 Adjustments: (2)Cost of revenue226,206 213,317 445,886 422,484 Compensation related costs - operations (3)21,133 18,699 42,089 37,384 Compensation related costs - general and administrative (3)12,931 13,160 25,378 25,287 All other segment items (4)12,399 14,572 28,031 30,163 Adjusted EBITDA for distributed gaming$53,709 $49,665 $103,056 $95,912 Adjusted EBITDA for “all other” operating segment (5)$(529)$— $(362)$— Less Adjustments for:Depreciation and amortization of property and equipment$13,095 $10,794 $25,396 $21,228 Amortization of intangible assets and route and customer acquisition costs6,322 5,589 12,612 11,027 Interest expense, net8,771 8,906 17,456 17,566 Emerging markets4 38 67 78 Loss from unconsolidated affiliates17 — 33 — Stock-based compensation2,789 3,235 4,880 5,585 Loss (gain) on change in fair value of contingent earnout shares5,734 (4,742)3,379