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Locals-focused gaming operator Accel Entertainment reported higher second-quarter revenue and earnings as expansion in several developing markets offset declines in parts of its established gaming network.
Revenue increased 10% year over year to $368.1 million for the quarter ended June 30 from $335.9 million. Net income rose 72% to $12.5 million from $7.3 million, while operating income increased to $32.1 million from $26.9 million.
For the first six months of 2026, revenue rose to $719.7 million from $659.8 million. Net income increased to $27.2 million from $21.9 million, while adjusted EBITDA reached $112.7 million, compared with $102.7 million.
Accel operated 4,676 locations at the end of June, an increase of 5.6% from a year earlier, and 29,281 gaming terminals, up 6.9%. Nevada recorded the largest expansion, with locations increasing 54.4% to 548 and terminals rising 52.6% to 4,045. Georgia and Nebraska also posted growth, while Illinois locations declined 1.8% to 2,692 and terminals fell 0.8% to 15,540.
Illinois remained the largest revenue market, generating $264.5 million in the quarter, compared with $245.4 million a year earlier. Revenue excluding Fairmount Park increased 6%, supported by improved hold-per-day and a higher-performing customer mix.
Location hold-per-day rose in every reported market except Nevada. Nebraska recorded the strongest increase, rising 49.8% to $427, followed by Georgia, up 24.2% to $185. Louisiana increased 15.2% to $1,145, Illinois rose 9% to $992, and Montana increased 3.2% to $642. Nevada declined 15.8% to $660.
Illinois’ Fairmount Park Casino & Racing introduced table games and began its second racing season in April 2026. Accel said the property recorded its highest quarterly gross profit since the acquisition closed less than two years ago and reiterated plans to develop a permanent casino at the site.
Rice Palace Truck Stop Casino in Louisiana
In Chicago, 17 of the video gaming locations approved by the Illinois Gaming Board, representing 44% of approvals issued to date, are Accel locations. City authorities have also begun processing video gaming license applications.
Outside Illinois, the company completed its acquisition of Rice Palace Truck Stop Casino in Louisiana and announced a Nevada route agreement and equipment purchase expected to add approximately 600 terminals across Southern Nevada.
Operating cash flow was $20 million and free cash flow was $10 million. Excluding a $17 million tax credit purchase, the figures would have been $37 million and $26 million, respectively.
Accel ended the quarter with $255 million in cash, net debt of $318 million, net leverage of about 1.4 times, and an undrawn $300 million revolving credit facility. It also repurchased approximately 500,000 shares for $5.6 million.
Chief Executive Officer Andy Rubenstein said: “Accel delivered another strong quarter, with revenue increasing 10% year-over-year to a record of $368 million, and Adjusted EBITDA rising 11% to $59 million. We believe these results reflect the strength and resilience of our distributed gaming model, the disciplined execution of our team, and the ongoing success of our long-term strategy.”
Rubenstein is preparing to move from Chief Executive Officer to Chairman.