Accel Entertainment, Inc. (NYSE:ACEL) Q2 2023 Earnings Conference Call August 3, 2023 5:30 PM ET

Company Participants

Derek Harmer - General Counsel and Chief Compliance Officer

Andrew Rubenstein - CEO

Mathew Ellis - CFO

Conference Call Participants

Steve Pizzella - Deutsche Bank

Chad Beynon - Macquarie

Greg Gibas - Northland

Operator

Good afternoon. Thank you for attending the Accel Entertainment's Second Quarter 2023 Earnings Call. My name is Matt, and I'll be your moderator for today's call. [Operator Instructions]

I would now like to pass the conference over to our host, Derek Harmer. Derek, please go ahead.

Derek Harmer

Welcome to Accel Entertainment Second Quarter 2023 Earnings Call. Participating on the call today are Andy Rubenstein, Accel's Chief Executive Officer; and Matt Ellis, Accel's Chief Financial Officer. Please refer to our website for the press release and supplemental information that will be discussed on this call. Today's call is being recorded and will be available on our website under Events and Presentations within the Investor Relations section of our website.

Some of the comments in today's call may constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties. Actual results may differ materially from those discussed today and the company undertakes no obligation to update these statements unless required by law.

For a more detailed discussion of these and other risk factors, investors should review the forward-looking statements section of the earnings press release available on our website as well as other risk factor disclosures in our filings with the SEC.

During the call, we may discuss certain non-GAAP financial measures. For reconciliations of the non-GAAP measures as well as other information regarding these measures, please refer to our earnings release and other materials in the Investor Relations section of our website.

I will now turn the call over to Andy.

Andrew Rubenstein

Thanks, Derek, and good afternoon everyone. Thank you for joining us for Accel's second quarter earnings call.

I'm pleased to report we had another record-breaking quarter. We reported revenue of $293 million, a year-over-year increase of 28% and adjusted EBITDA of $47 million, a year-over-year increase of 9%. Q2's revenue growth was primarily driven by the successful acquisition of Century, which is now fully integrated and 0.4% same store sales growth in Illinois. The modest growth in Illinois was mainly due to unfavorable weather. Warmer temperatures came earlier than expected and we've seen higher thunderstorm activity during the summer.