Accel Entertainment (ACEL) Earnings Date & Reports

Key Takeaways

• Accel Entertainment (NYSE: ACEL) is expected to report third-quarter 2026 results after the market close around November 10, 2026, for the three months ended September 30, 2026.
• The company enters the print off a record second quarter, with revenue of $368.1 million and adjusted EBITDA of $58.9 million (EBITDA is earnings before interest, taxes, depreciation, and amortization).
• A central focus will be the Chicago video gaming terminal (VGT) rollout, where Accel has secured approvals for roughly 44% of licensed locations to date.
• The year-ago period provides a comparison of $329.7 million in revenue and $0.16 in diluted earnings per share (EPS).
• Investors will also track Illinois location hold-per-day, the Nevada and Louisiana ramps, and Fairmount Park's contribution.
• For more context on this ticker, explore Accel's Major News, Today's Price Move, Price Targets, and Forecast.
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Earnings Context and Why It Matters

Accel Entertainment is one of the largest terminal operators in the United States, supporting roughly 28,000 gaming terminals across more than 4,500 third-party local establishments and self-operated locations in ten states. Its third-quarter report matters because the company is in the middle of a multi-quarter margin expansion story, driven by route optimization in Illinois, its core market, and accelerating profitability in developing states. The results also arrive as Chicago's long-awaited VGT market begins to open, a catalyst management has repeatedly called one of Accel's most compelling near-term growth opportunities. With the CEO transition underway and a refreshed balance sheet, this print will signal whether operating leverage and disciplined capital deployment can keep compounding.

Earnings Expectations

Accel does not issue formal quarterly guidance, so attention turns to year-over-year momentum and operating metrics rather than a company-provided outlook. The comparable period, the third quarter of 2025, produced total net revenues of $329.7 million, net income of $13.3 million, and diluted EPS of $0.16. That followed a second quarter of 2026 that set a record with $368.1 million in revenue, up 9.6% year over year, alongside adjusted EBITDA of $58.9 million and diluted EPS of $0.15.

Key metrics to watch include Illinois average location hold-per-day, which rose 9% year over year to $992 in the second quarter, and revenue growth in developing markets, where Nebraska and Georgia delivered 55% and 47% growth, respectively. Investors will also monitor Nevada's terminal expansion and the ramp at Fairmount Park, which posted its highest quarterly gross profit since acquisition.

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Market Reaction and Investor Sentiment

Sentiment heading into the third-quarter report is shaped by a mix of expansion optimism and near-term execution questions. The Chicago VGT launch has been a key narrative, with Accel approved for 44% of the first licensed establishments and infrastructure positioned to scale quickly. However, management has cautioned that full deployment could take five or more years, tempering expectations for an immediate revenue inflection. Nevada's hold-per-day declined 15.8% in the second quarter as the route mix shifted toward lower-yielding convenience stores, a factor analysts are likely to probe. Non-cash items, including a $2.5 million equipment write-down and a $5 million earn-out mark-to-market loss, also weighed on second-quarter net income and may shape how investors interpret headline earnings.

Forward Outlook and Key Factors to Monitor

Following the print, investors should watch whether the Chicago licensing process accelerates. Management indicated the first establishments could go live in the coming weeks, with a more normal application flow expected once operations begin. Any update on the number of Accel locations receiving city licenses will be closely scrutinized, given the market is estimated to represent roughly $1 billion in total revenue over time.

Margin trends in Illinois remain central. The completed rollout of ticket-in, ticket-out (TITO) technology is expected to reduce cash held in the field and improve working capital over time, though its direct revenue contribution is still hard to isolate. Sustained hold-per-day growth and continued pruning of lower-performing locations will be key signals of operating leverage.

In developing markets, the pace of Nevada's convenience-store transition, Louisiana's bolt-on acquisition strategy, and Fairmount Park's progression toward a permanent casino are important catalysts. Balance sheet flexibility, with net leverage near 1.4 times and an undrawn $300 million revolving credit facility, leaves room for further buybacks and acquisitions, making capital allocation commentary a key area to monitor.

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