Record-breaking revenue figures for the fourth quarter and full year of 2024 were revealed in Accel Entertainment’s financial report. The business made $1.2 billion for the year and $317.5 million in Q4. Net income decreased for both times in spite of these achievements.
Revenue grew 6.9% in Q4 and 5.2% year over year in 2024. Net income, however, fell sharply. Accel’s Q4 net income was $8.4 million, which was 47.5% less than the year before. Net income decreased by 22.6% to $35.3 million for the entire year.
CEO Andy Rubenstein remained optimistic about the company’s position. “I am very pleased to report that we ended 2024 on very strong footing, positioning us well as we enter 2025,” he said. He highlighted Accel’s entry into Louisiana through its acquisition of Toucan Gaming and the completion of its deal for FanDuel Sportsbook & Horse Racing. The company has already begun construction on Phase I of a casino, aiming for a Q2 2025 opening.
State Performance and EBITDA Growth
With contributions of $906.6 million for the entire year and $231.3 million in Q4, Illinois continued to be Accel’s top market. Montana reported $161.7 million, and no other state came close. Accel’s revenue fell 2.2% to $114.6 million in Nevada, the only state to experience a reduction in sales from the previous year.
Even though net income decreased, adjusted EBITDA rose. The business made $47.4 million in Q4, up 6.2%, and $189.1 million for the entire year, up 4.2%.
Additionally, Accel had $314 million in net debt at the end of 2024, a rise of 11.8% from the year before. The company’s future goals are still to grow and improve its financial standing.
The post Accel Entertainment Achieves Record Revenue Despite Declining Net Income in 2024 appeared first on iGaming.org.