Accel Entertainment (ACEL) Reports Q2 EPS of $0.00

Accel Entertainment (NYSE: ACEL) reported Q2 revenue of $379 thousand versus the consensus estimate of $3.2 million.

• In response to the COVID-19 pandemic, the Illinois Gaming Board shut down all video gaming terminals (“VGTs”) across the state of Illinois from March 16th to June 30th
• Ended Q2 2020 with 2,335 locations; an increase of 33% compared to Q2 2019 (9% increase excluding the impact of the Grand River acquisition)
• Ended Q2 2020 with 11,108 VGTs; an increase of 37% compared to Q2 2019 (16% increase excluding the impact of the Grand River acquisition)
• Q2 2020 Adjusted EBITDA loss of $9 million, a decrease of 142% compared to Q2 2019

Accel Entertainment CEO Andy Rubenstein commented, “Naturally with the state imposed shut down of VGTs and as we all try to weather this global pandemic, this was a quiet quarter for Accel. While our operations were suspended during this time, the strengths of our asset-lite business model allowed us to quickly adapt to new protocols, prepare for relaunch and ensure the long-term prosperity of our company. Since the relaunch on July 1 we have been encouraged by the enthusiasm our players have demonstrated in their return to gaming which has resulted in July gaming revenue near our pre-COVID-19 budget.”

For earnings history and earnings-related data on Tamir Biotechnology, Inc. (ACEL) click here.

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