Company: ACEL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001698991-25-000011
Chunk: 41

Company: Accel Entertainment, Inc.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 41
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 “Field Cash”) as a critical audit matter. Evaluating the sufficiency of audit evidence obtained related to Field Cash required especially subjective auditor judgment due to the dispersed nature of Field Cash across numerous physical locations and geographies. This included determining the physical locations and geographies over which procedures were performed and evaluating the nature and extent of evidence obtained.

The following are the primary procedures we performed to address this critical audit matter. We applied auditor judgment to determine the nature and extent of procedures to be performed over Field Cash, including determining the geographies and physical locations over which procedures were performed. We evaluated the design and tested the operating effectiveness of certain internal controls related to the cash and cash equivalents process, including controls over Field Cash related to reconciliations and cash counting. To assess the cash balances for a selection of vaults, and a sample of gaming and redemption terminals, we performed physical counts of cash. We evaluated the sufficiency of audit evidence obtained by assessing the results of procedures performed, including the appropriateness of the nature and extent of such evidence over 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,