Company: ACEL
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001698991-25-000034
Chunk: 47

Company: Accel Entertainment, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 47
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 amortization of property and equipment25,396 21,228 4,168 19.6 %Amortization of intangible assets and route and customer acquisition costs12,612 11,027 1,585 14.4 %Other expenses, net6,913 9,753 (2,840)(29.1)%Total operating expenses606,995 562,988 44,007 7.8 %Operating income52,826 48,242 4,584 9.5 %Interest expense, net17,456 17,566 (110)(0.6)%Loss from unconsolidated affiliates33 — 33 100.0 %Loss (gain) on change in fair value of contingent earnout shares3,379 (26)3,405 13,096.2 %Income before income tax expense31,958 30,702 1,256 4.1 %Income tax expense10,083 8,700 1,383 15.9 %Net income$21,875 $22,002 $(127)(0.6)%

34

Net revenues

Total net revenues for the six months ended June 30, 2025 were $659.8 million, an increase of $48.6 million, or 7.9%, compared to the prior-year period. This increase was primarily driven by higher net gaming revenue of $34.5 million, which reflected an increase in gaming locations and terminals and higher ATM fees and other revenue of $26.9 million, an increase of $16.1 million, or 149.9%, which included revenue from our casino & racing operations. Net revenues by state are presented below:

(in thousands)Six Months EndedJune 30,Increase / (Decrease)20252024Change ($)Change (%)Net revenues by state:Illinois$478,913 $451,956 $26,957 6.0 %Montana81,243 80,724 519 0.6 %Nevada54,695 58,531 (3,836)(6.6)%Louisiana18,655 — 18,655 N/ANebraska15,111 12,083 3,028 25.1 %Georgia9,139 5,761 3,378 58.6 %Other2,065 2,