Accel Entertainment reported second-quarter revenue of $368m, up 10% year-on-year. Adjusted EBITDA rose 11% to $59m.
Illinois, the company's largest market, led the growth. Revenue from distributed gaming operations in the state, excluding Fairmount Park, climbed 6% on improved route quality and higher yield per location. Fairmount Park posted its strongest quarterly gross profit since the acquisition two years ago, with tables and slots gaining traction and a permanent casino planned for the property.
Chicago terminal rollout remains the key near-term driver. The Illinois Gaming Board has begun issuing licenses — Accel holds 17 of the 44 approved locations. The city business department has opened its application process. Once municipal licences are issued, Accel will connect terminals to the central system and go live.
Outside Illinois, Nebraska and Georgia showed strong EBITDA growth. The company completed the acquisition of Rice Palace Truck Stop Casino in Louisiana and announced a new contract in Nevada covering around 600 terminals in the southern part of the state.
Accel bought back roughly 500,000 shares for $5.6m during the quarter. Net leverage stands at 1.4x, with a $300m revolving credit facility undrawn. CEO Andy Rubenstein is moving to the role of board chairman.
