Accel Entertainment, Inc. reported first‑quarter 2026 results with revenue of $352 million, a 9% year‑over‑year increase from $323.9 million in Q1 2025. Net income rose slightly to $14.7 million, and earnings per share were $0.17. The company beat the $0.16 consensus estimate but missed the broader consensus of $0.18–$0.20, leaving EPS flat compared with the $0.17 reported in Q1 2025.
Revenue growth was driven by the company’s distributed gaming network, which now operates 4,540 locations—up 3% from the prior year. Strong performance in Illinois, Nebraska, Georgia, Nevada, and Louisiana contributed to a 10% rise in net gaming revenue. Net income, however, remained flat year‑over‑year because higher depreciation and amortization and a timing shift in Fairmount Park’s purse expense offset the revenue gains.
Adjusted EBITDA reached $210 million, an 11% increase from the prior year, reflecting the company’s capital‑efficient model and route‑optimization investments. Operating cash flow was $150.9 million, underscoring the firm’s ability to generate cash while expanding its network. Despite the EBITDA growth, net income did not rise due to the one‑time expense adjustments noted above.
Management reiterated its 2026 guidance, maintaining a capital‑expenditure plan of $60–$70 million and projecting continued organic growth. "Accel Entertainment delivered a strong start to 2026 with the company's highest ever Q1 adjusted EBITDA result. First quarter revenue increased 9% year-over-year to $352 million, marking an all-time quarterly record for the company. Adjusted EBITDA also grew 9% to $54 million, reflecting solid underlying performance across the business," said Andrew Rubenstein, Co‑Founder, President, CEO & Chairman. "These results reflected the continued strength of our distributed gaming model, ongoing momentum in our developing markets, and our team's disciplined execution across each of our businesses," he added. Mark Phelan, COO & President U.S. Gaming, noted, "We increasingly think of it less as a logistics business and more as a gaming and hospitality business. A logistics business competes on efficiency, scale, and cost. The gaming and hospitality business competes on experience, content, relationships, and differentiation and it commands meaningfully better economics as a result." Rubenstein also said the company anticipates the first Chicago locations could go live in late 2026 or in the first quarter of 2027.
Market reaction to the earnings was positive, with Accel’s stock rising 3.19% in aftermarket trading. The rally was driven by the record revenue, the strategic pivot toward a higher‑margin gaming and hospitality model, and the potential expansion into the Chicago market, which investors view as a significant growth opportunity.
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