Accel Entertainment Shares Surge 13% Following Third-Quarter Earnings Beat
Accel Entertainment (ACEL) saw its share price jump over 13% on Wednesday following a strong third-quarter earnings report that exceeded analyst expectations on both the top and bottom lines. The company reported revenue of nearly $364 million, representing a 10% year-over-year increase, while adjusted net income rose 12% to $0.22 per share. The growth was primarily driven by increased volume, with gaming machine deployments rising 7% to 29,548 units and the number of locations increasing 6% to 4,705. Notable performance was observed in Georgia, Nebraska, and Illinois, specifically at the Fairmount Park Casino & Racing complex. Management indicated that ongoing market diversification is expected to drive future growth.
Tickers: $ACEL
Topics: earnings beat gaming industry net income revenue growth