Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q4 2021 Earnings Presentation
11 slides from Accel Entertainment's earnings presentation, Mar 10, 2022
Slide 1: Fourth Quarter and Full Year 2021 Earnings Presentation
Fourth Quarter and Full Year 2021 Earnings Presentation March 2022
Slide 2: Important Information
Important Information Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical
Slide 3: Accel at a Glance
Accel at a Glance Average Daily Net Video Gaming Revenue(1) ($ in thousands) High Quality $2,030 Service Strong Track $1,383 Company Record of $1,125 in Gaming Growth $882 $658 $458 Vertical As of December 31, 2021, Accel owned and operated 13,639 $256 $353 Video Gaming Terminals (“VGTs”) across 2,5
Slide 4: Recent Highlights
Recent Highlights • 2021 Revenue, Net Income, and Adjusted EBITDA were the highest in Accel’s history − Location hold-per-day increased 38% vs 2020 • Accel began operations in Iowa on December 30, 2021 with the acquisition of Rich and Junnie’s − Amusement and ATM operator in northeast Iowa • Century
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs End of Period Live Locations / VGTs (#) Location Hold per Day(1) ($) 13,177 13,384 13,639 12,720 12,247 $855 $798 2,584 $784 $782 2,527 2,549 2,435 2,470 $572 $596 $583 – Q1 Q2 Q3 Q4 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 VGTs Locations 2020 2021 Revenue ($mm) Adjusted EBITDA(2) ($m
Slide 6: Q4 2021 and FY 2021 Results
Q4 2021 and FY 2021 Results $ in millions Q4 2020 Q4 2021 % Change FY 2020 FY 2021 % Change Locations 2,435 2,584 6% 2,435 2,584 6% VGTs 12,247 13,639 11% 12,247 13,639 11% Revenue $74 $192 158% $316 $735 132% Adj EBITDA(1) $5 $33 606% $34 $140 312% CapEx(2) $8 $11 35% $26 $30 15% Net Debt(3) $206 $
Slide 7: 2021 and 2022 Guidance
2021 and 2022 Guidance $ in millions 2021 2022 Guidance(1) 2022 Guidance(1) (Actual) (Excludes Century) (Pro Forma Century) Locations 2,584 2,760 - 2,795 3,700 – 3,800 VGTs 13,639 14,560 - 14,750 23,000 – 25,000 Revenue $735 $820 - $870 $1,065 - $1,180 Adj EBITDA(2) $140 $160 - $170 $182 - $198 CapE
Slide 8: Regulatory Update
Regulatory Update Illinois: 6th VGT & Georgia Expansion Missouri North Carolina Virginia Increased Bet Limit • Currently allows coin- Legislation Legislation Legislation Software operated skill-based • 4 VLT bills filed and • HB 954 which would • Unregulated games were games, primarily in awaiting c
Slide 9: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q4 Twelve Months Ended YTD December 31, December 31, YoY December 31, YoY 2017 2018 2019 2020 2020 2021 Growth 2020 2021 Growth No. of Locations 1,442 1,686 2,312 2,435 2,435 2,584 6% 2,435 2,584 6% No. of VGTs 6,439 7
Slide 10: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2020 December 31, 2021 Assets Current Assets: Cash and cash equivalents $134 $199 Other current assets $18 $49 Total current assets $152 $248 Property and equipment, net $144 $152 Route and customer acquisition costs, net $15 $16 Location contracts acqu
Slide 11: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Tw elve Months Ended Decem ber 31, Decem ber 31, Decem ber 31, 2017 2018 2019 2020 2020 2021 2020 2021 Reported Net Income (Loss) 8 11 (37) (0) (9) 7 (0) 32 (+) Amortization of Op Routes 10 15 18 23 6 4 23 22 (+) S