Accel Reports Q4 Revenue of $341.4M, Beating Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy ACEL?
Reports Q4 revenue $341.4M, consensus $335.7M. Accel CEO, Andy Rubenstein, commented, "Accel delivered a strong finish to 2025, highlighted by 7.5% revenue growth and an 18.9% increase in Adjusted EBITDA in the fourth quarter. For the full year, we generated record revenue of $1.3 billion and $210 million in Adjusted EBITDA, reflecting the growth and resilience of our distributed gaming model combined with our disciplined capital deployment. We ended the year supporting more than 4,500 locations and nearly 28,000 gaming terminals, underscoring the scale and durability of our platform. In Illinois and Montana, we continue to optimize our footprint and machine base, driving steady hold-per-day improvement and margin expansion. The Illinois rollout of ticket-in, ticket-out technology is progressing as planned and is expected to enhance player convenience and operational efficiency over time. We are excited by the potential to bring our distributed gaming and local entertainment model to the city of Chicago following public announcements regarding the possible introduction of Video Gaming Terminals in licensed locations. We believe we are well positioned to leverage our strong balance sheet, existing fixed operating infrastructure, route management capabilities, and fixed asset base to capitalize on opportunities in a Chicago Video Gaming Terminals market, and we continue to monitor developments as we establish our strategies for maximizing returns from this possible opportunity."
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Analyst Views on ACEL
Wall Street analysts forecast ACEL stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 11.380
Low
13.00
Averages
13.00
High
13.00
Current: 11.380
Low
13.00
Averages
13.00
High
13.00
About ACEL
Accel Entertainment, Inc. is a distributed gaming operator in the United States and a partner for local business owners in the markets it serves. The Company offers turnkey full-service gaming solutions to authorized non-casino locations such as bars, restaurants, convenience stores, truck stops, and fraternal and veteran establishments across the country. It installs, maintains, operates and services gaming terminals and related equipment for its location partners as well as redemption devices, stand-alone automated teller machines (ATMs) and amusement devices, including jukeboxes, dartboards, pool tables, and other entertainment-related equipment. It also designs and manufactures gaming terminals and related equipment. Its segments include distributed gaming and casinos and racing. The Company offers amusement devices, including jukeboxes, dartboards, pool tables, and other entertainment-related equipment that enhance customer experience and engagement.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Regulatory Pressure: The U.S. gaming industry faces heightened regulatory scrutiny and higher tax burdens, with many state governments imposing stricter compliance requirements and tax rates to boost public revenues, compressing operator margins and increasing operational costs.
- Macau Revenue Growth: Macau's gaming revenues reached MOP 20.6 billion ($2.56 billion) in February 2026, reflecting a 4.5% year-over-year increase, despite a decline from January's MOP 22.6 billion, indicating signs of market recovery amidst challenges.
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See More
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- Significant Net Income Growth: Under GAAP, net income surged by almost 92% to $16.2 million, beating the consensus estimate of $0.15 per share, reflecting the effectiveness of the company's capital deployment and business resilience.
- Expanded Market Footprint: The company's products are now live in over 4,500 locations, operating nearly 28,000 gaming terminals, which significantly enhances its competitive edge and lays a foundation for future growth.
- Increased Investor Confidence: Following the earnings beat, the stock surged 18% on Wednesday to $13.06, with a market cap of $921 million, indicating strong investor confidence in the company's future prospects.
See More
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- Revenue and Profit Growth: Accel Entertainment reported over $341 million in revenue for Q4 2025, marking an almost 8% year-over-year increase that surpassed analyst expectations of $336 million, demonstrating the company's robust performance in distributed gaming operations and solidifying its market position.
- Significant Net Income Increase: The company's net income surged nearly 92% to $16.2 million under GAAP, exceeding the market forecast of $15 million, indicating a substantial enhancement in profitability and reflecting effective capital deployment strategies by management.
- Positive Market Reaction: Following the earnings beat, Accel's stock surged 18% on Wednesday, showcasing strong investor confidence in the company's future growth potential and further driving its market valuation upward.
- Expanded Product Reach: Accel's products are now live in over 4,500 locations with nearly 28,000 gaming terminals, indicating a continuous expansion of its business scale and laying a solid foundation for future revenue growth.
See More
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- Sector Performance: Sporting goods and activities stocks rose approximately 3.2% collectively, indicating strong market confidence in the sector, which may attract more investor interest.
- Accel Entertainment Leads: Accel Entertainment's stock surged about 19.4%, positioning it as a leader in the industry, reflecting its competitive advantage and positive investor sentiment.
- Xponential Fitness Growth: Xponential Fitness saw its stock increase by approximately 17.9%, showcasing the success of its business model and strong market demand, potentially driving further expansion plans.
- Market Trend Analysis: The robust performance of the sporting goods sector may signal ongoing consumer interest in health and fitness, prompting companies to capitalize on this trend to enhance market share.
See More
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- Strong Performance: Accel Entertainment's Q4 results exceeded revenue and adjusted EBITDA estimates, leading to a 19.5% stock price increase and a new 52-week high of $13.29, reflecting robust market performance and investor confidence.
- Video Gaming Terminal Prospects: With Chicago's plan to introduce video gaming terminals (VGTs), analysts believe this could significantly contribute to Accel's future earnings, with projected revenues exceeding $100 million by 2027, enhancing the company's profitability.
- Market Expansion Potential: CBRE Research analysts noted that while uncertainty remains regarding Illinois prospects, the likelihood of Chicago launching VGTs is high, providing Accel with new growth opportunities, particularly in bars and restaurants.
- Investment Rating Maintained: Texas Capital Securities maintained a Buy rating on Accel, highlighting that its EV/EBITDA multiple is at a 23% discount to regional casino peers, indicating strong investment value and future growth potential.
See More
