Company: ACEL
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001698991-25-000023
Chunk: 45

Company: Accel Entertainment, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 1
Chunk 45
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9 %Nevada2,623 2,714 (91)(3.4)%Louisiana614 — 614 N/ANebraska949 833 116 13.9 %Georgia844 708 136 19.2 %Total27,180 26,029 1,151 4.4 %

Location hold-per-day 

Location hold-per-day is calculated by dividing net gaming revenue in the period by the average number of locations. Then divide the calculated amount by the number of operational days. We utilize this metric to compare market and location performance on a normalized basis. The percent change in location hold-per-day is the underlying metric we use to determine the change in same-store sales.

The following tables set forth information with respect to our location hold-per-day in our primary locations for the three months ended:

Three Months EndedMarch 31,Increase / (Decrease)20252024Change ($)Change (%)Illinois$885 $860 $25 2.9 %Montana610 594 16 2.7 %Nevada802 847 (45)(5.3)%Louisiana972 — 972 N/ANebraska263 233 30 12.9 %Georgia145 91 54 59.3 %

Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted net income are non-GAAP financial measures, but are key metrics management uses to monitor ongoing core operations. Adjusted EBITDA and Adjusted net income exclude the effects of certain non-cash items or represent certain nonrecurring items that are unrelated to core performance. Management believes these non-GAAP financial measures enhance the understanding of our underlying drivers of profitability, trends in our business, and facilitate company-to-company and period-to-period comparisons. Management also believes that these non-GAAP financial measures are used by investors, analysts and other interested parties as measures of financial performance and to evaluate our ability to fund capital expenditures, service debt obligations and meet working capital requirements. 

Adjusted net income is defined as net income plus: 

•Amortization of intangible assets and route and customer acquisition costs 

•Stock-based compensation expense

•Loss from unconsolidated affiliates

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•(Gain) loss on change in fair value of contingent earnout shares

•Other expenses, net which consists of (i) non-cash expenses including the rem