Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 15

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 15
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 Field Cash.

/s/ KPMG LLP

We have served as the Company’s auditor since 2019.

Chicago, Illinois

March 3, 2025

F-3

ACCEL ENTERTAINMENT, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME

(in thousands, except per share amounts)Years ended December 31,202420232022Revenues:Net gaming $1,172,777 $1,113,573 $925,009 Amusement22,244 23,973 21,106 Manufacturing 12,235 13,353 7,621 ATM fees and other23,716 19,521 16,061 Total net revenues1,230,972 1,170,420 969,797 Operating expenses:Cost of revenue (exclusive of depreciation and amortization expense shown below)852,373 809,524 666,126 Cost of manufacturing goods sold (exclusive of depreciation and amortization expense shown below)7,100 7,671 4,775 General and administrative194,721 180,248 145,942 Depreciation and amortization of property and equipment43,978 37,906 29,295 Amortization of intangible assets and route and customer acquisition costs22,577 21,211 17,484 Other expenses, net19,339 6,453 9,320 Total operating expenses1,140,088 1,063,013 872,942 Operating income90,884 107,407 96,855 Interest expense, net35,892 33,144 21,637 Loss (gain) on change in fair value of contingent earnout shares1,276 8,539 (19,544)Gain on expiration of warrants(13)— — Income before income tax expense53,729 65,724 94,762 Income tax expense18,438 20,121 20,660 Net income$35,291 $45,603 $74,102 Less: Net income attributed to redeemable noncontrolling interests39 — — Net income attributable to Accel Entertainment, Inc.$35,252 $45,603 $74,102 Earnings per common share:Basic$0.42 $0.53 $0.82 Diluted0.