Accel Entertainment, Inc. · NYSE:ACEL
Accel Entertainment — Q3 2021 Earnings Presentation
11 slides from Accel Entertainment's earnings presentation, Nov 4, 2021
Slide 1: Third Quarter 2021 Earnings Presentation
Third Quarter 2021 Earnings Presentation November 2021
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 $2,038 Service Strong Track $1,383 Company Record of $1,125 in Gaming Growth $882 $658 $458 Vertical As of September 30, 2021, Accel owns and operates 13,384 $256 $353 Video Gaming Terminals (“VGTs”) across 2,5
Slide 4: Recent Highlights
Recent Highlights • Strong revenue and Adjusted EBITDA performance continued in Q3 2021 − Revenue per location per day increased 34% vs Q3 2020 • Guidance increased for 2021 based on continued strong performance • Guidance issued for 2022 • On October 22, 2021, Accel increased the borrowing capacity
Slide 5: Accel Quarterly KPIs
Accel Quarterly KPIs End of Period Live Locations / VGTs (#) Location Hold per Day(1) ($) 13,177 13,384 12,720 12,247 11,597 $855 $798 $784 2,527 2,549 2,435 2,470 $572 $596 $583 2,363 – Q1 Q2 Q3 Q4 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 VGTs Locations 2020 2021 Revenue ($mm) Adjusted EBITDA(2) ($mm) Op
Slide 6: Q3 2021 Results
Q3 2021 Results $ in millions Q3 2020 Q3 2021 % Change Locations 2,363 2,549 8% VGTs 11,597 13,384 15% Revenue $135 $193 43% Adj EBITDA(1) $23 $38 63% CapEx(2) $14 $8 -42% Net Debt(3) $170 $148 -13% 1. Adjusted EBITDA is a non-GAAP financial measures that may not be comparable to other similarly tit
Slide 7: 2021 and 2022 Guidance
2021 and 2022 Guidance $ in millions 2021 Previous 2021 Revised 2022 Guidance(2) 2022 Guidance(2) Guidance(1) Guidance(1) (Excludes Century) (Pro Forma Century) Locations 2,590 – 2,615 2,600 - 2,620 2,760 - 2,795 3,700 – 3,800 VGTs 13,555 – 13,680 13,660 -13,775 14,560 - 14,750 23,000 – 25,000 Reven
Slide 8: Regulatory Update
Regulatory Update Illinois: 6th VGT & Georgia Expansion Pennsylvania Missouri Virginia Increased Bet Limit • Currently allows coin- Legislation Legislation Legislation Software operated skill-based • Senate is expected to • Accel is working with other • As of July 1st, unregulated games, primarily i
Slide 9: Historical Financial Summary
Historical Financial Summary $ in millions Twelve Months Ended Three Months Ended Q3 Nine Months Ended YTD December 31, September 30, YoY September 30, YoY 2017 2018 2019 2020 2020 2021 Growth 2020 2021 Growth No. of Locations 1,442 1,686 2,312 2,435 2,363 2,549 8% 2,363 2,549 8% No. of VGTs 6,439 7
Slide 10: Accel Balance Sheet
Accel Balance Sheet $ in millions December 31, 2020 September 30, 2021 Assets Current Assets: Cash and cash equivalents $134 $180 Other current assets $18 $18 Total current assets $152 $198 Property and equipment, net $144 $148 Route and customer acquisition costs, net $15 $16 Location contracts acq
Slide 11: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation $ in millions Tw elve Months Ended Three Months Ended Nine Months Ended December 31, September 30, September 30, Standalone Accel 2017 2018 2019 2020 2020 2021 2020 2021 Reported Net Income (Loss) 8 11 (37) (0) 7 11 8 25 (+) Amortization of Op Routes 10 15 18 23 6 6 1