Company: ACEL
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001698991-25-000051
Chunk: 41

Company: Accel Entertainment, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 41
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 municipality on June 8, 2021, but there was no enforcement of this tax until the Company was issued a notice of hearing in February 2023. In April 2023, the Company, along with numerous other terminal operators, filed a complaint in the Circuit Court of Cook County, Illinois contesting the validity and enforceability of the TO Tax and won a temporary restraining order to stay the order. Currently, the matter remains pending as a result of a motion to consolidate and to finalize the assignment of the judge. On March 21, 2025, the judge ruled in favor of the Company and a coalition of terminal operators’ motion for judgment on the pleadings that the municipality ordinance was pre-empted by State law as well as the other 54 municipal push tax ordinances. The cases were all dismissed, and the municipality’s motion for reconsideration was denied. The municipality has filed a motion for leave to appeal with the appellate court. 

Note 18. Earnings Per Share

The components of basic and diluted earnings per share (“EPS”) were as follows for the three and nine months ended September 30 (in thousands, except per share amounts):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Net income attributable to Accel Entertainment, Inc.$13,364 $4,895 $35,318 $26,897 Basic weighted average outstanding shares of common stock84,719 82,952 85,289 83,718 Dilutive effect of stock-based awards for common stock1,368 1,370 1,274 1,172 Diluted weighted average outstanding shares of common stock86,087 84,322 86,563 84,890 Earnings per common share:Basic$0.16 $0.06 $0.41 $0.32 Diluted$0.16 $0.06 $0.41 $0.32 

Anti-dilutive stock-based awards, contingent earnout shares and warrants excluded from the calculations of diluted EPS were 4.2 million and 4.3 million shares as of September 30, 2025 and 2024, respectively. 

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our