Overview

• Gaming operator's Q4 revenue rose 7.5%, beating analyst expectations

• Adjusted EBITDA for Q4 beat estimates, rising 18.9% yr/yr

• Company repurchased 1.5 mln shares in Q4 for $16.2 mln

Outlook

• Accel monitors Chicago Video Gaming Terminals market for strategic expansion opportunities

Result Drivers

• MARKET EXPANSION - Revenue growth driven by strategic expansions in Louisiana and Georgia, with Louisiana revenue up 75% yr/yr and Georgia locations increasing by 36%

Company press release: ID:nBwr7Ptba

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Beat	$341.45 mln	$335.20 mln (6 Analysts)
Q4 Net Income		$16.2 mln
Q4 Adjusted EBITDA	Beat	$56.28 mln	$51.12 mln (6 Analysts)
Q4 Operating income		$29.66 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the casinos & gaming peer group is "buy"

• Wall Street's median 12-month price target for Accel Entertainment Inc is $16.00, about 44.4% above its March 2 closing price of $11.08

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

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