Accel Entertainment Inc
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
ACEL$13.85-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Income
| (in thousands, except per share amounts) | Years ended December 31, | ||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenues: | |||
| Net gaming | $1,113,573 | $925,009 | $705,784 |
| Amusement | 23,973 | 21,106 | 16,667 |
| Manufacturing | 13,353 | 7,621 | — |
| ATM fees and other | 19,521 | 16,061 | 12,256 |
| Total net revenues | 1,170,420 | 969,797 | 734,707 |
| Operating expenses: | |||
| Cost of revenue (exclusive of depreciation and amortization expense shown below) | 809,524 | 666,126 | 494,032 |
| Cost of manufacturing goods sold (exclusive of depreciation and amortization expense shown below) | 7,671 | 4,775 | — |
| General and administrative | 180,248 | 145,942 | 110,818 |
| Depreciation and amortization of property and equipment | 37,906 | 29,295 | 24,636 |
| Amortization of intangible assets and route and customer acquisition costs | 21,211 | 17,484 | 22,040 |
| Other expenses, net | 6,453 | 9,320 | 12,989 |
| Total operating expenses | 1,063,013 | 872,942 | 664,515 |
| Operating income | 107,407 | 96,855 | 70,192 |
| Interest expense, net | 33,144 | 21,637 | 12,702 |
| Loss (gain) on change in fair value of contingent earnout shares | 8,539 | (19,544) | 9,762 |
| Loss on debt extinguishment | — | — | 1,152 |
| Income before income tax expense | 65,724 | 94,762 | 46,576 |
| Income tax expense | 20,121 | 20,660 | 15,017 |
| Net income | $45,603 | $74,102 | $31,559 |
| Earnings per common share: | |||
| Basic | $0.53 | $0.82 | $0.34 |
| Diluted | 0.53 | 0.81 | 0.33 |
| Weighted average number of shares outstanding: | |||
| Basic | 85,949 | 90,629 | 93,781 |
| Diluted | 86,803 | 91,229 | 94,638 |
| Comprehensive income | |||
| Net income | $45,603 | $74,102 | $31,559 |
| Unrealized loss on investment in convertible notes (net of income taxes of $(36)) | — | — | (93) |
| Unrealized (loss) gain on interest rate caplets (net of income taxes of $(1,618) and $4,693, respectively) | (4,304) | 12,240 | — |
| Comprehensive income | $41,299 | $86,342 | $31,466 |
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