Slide 1: Fourth Quarter 2023 Earnings Presentation
Fourth Quarter 2023 Earnings Presentation February 2024
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 Gaming Revenue(1) ($ in thousands) $3,051 High Quality $2,534 Service Strong Track $2,030 Company Record of $1,383 $1,125 in Gaming Growth $882 $658 Vertical $458 As of December 31, 2023, Accel owned and operated 25,083 gaming terminals across 3,961 locations in 2
Slide 4: Q4 and YE 2023 Highlights
Q4 and YE 2023 Highlights • Another record year for Revenue and Adjusted EBITDA • Q4 Revenue of $297 million, an increase of 7% compared to Q4 2022 • YE 2023 Revenue of $1.2 billion, an increase of 21% compared to YE 2022 − Illinois same store sales(1) grew 1% compared to Q4 2022, and 3% compared to
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs Locations (#) Terminals (#) 3,793 3,497 3,852 3,657 3,906 3,741 3,961 197 140 219 143 238 165 8 345 355 352 340 352 332 335 620 610 611 610 609 2,565 585 586 2,565 2,663 2,572 2,690 2,596 2,724 2,648 2,762 Q1 Q2 Q3 Q4 1 2 2022 IL 2022 MT 2022 NV 2022 NE 2022 I 2022 MT 2022 N 202
Slide 6: 2023 Results
2023 Results $ in millions Q4 2022 Q4 2023 % Change YE 2022 YE 2023 % Change Locations 3,741 3,961 6% 3,741 3,961 6% Terminals 23,541 25,083 7% 23,541 25,083 7% Revenue $278 $297 7% $970 $1,170 21% Adj EBITDA(1) $43 $45 3% $162 $181 12% CapEx(2) $14 $22 49% $47 $82 73% Net Debt(3) $318 $281 -12% $31
Slide 7: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q4 Twelve Months Ended YE December 31, December 31, YoY December 31, YoY 2019 2020 2021 2022 2022 2023 Growth 2022 2023 Growth No. of Locations 2,312 2,435 2,584 3,741 3,741 3,961 6% 3,741 3,961 6% No. of Terminals 10,
Slide 8: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2022 December 31, 2023 Assets Current Assets: Cash and cash equivalents $224 $262 Other current assets 75 51 Total current assets $299 $313 Property and equipment, net 212 261 Route and customer acquisition costs, net 18 19 Location contracts acquired,
Slide 9: 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, 2019 2020 2021 2022 2022 2023 2022 2023 Reported Net Income (Loss) (37) (0) 32 74 13 16 74 46 (+) Amortization of intangible assets and route and custo