Accel Entertainment, Inc. (NYSE:ACEL) Q1 2024 Earnings Conference Call May 8, 2024 5:30 PM ET

Company Participants

Derek Harmer - General Counsel and CCO
Andrew Rubenstein - President and CEO
Mathew Ellis - CFO

Conference Call Participants

Chad Beynon - Macquarie
Steve Pizzella - Deutsche Bank

Operator

Hello everyone. Thank you for attending today's Accel Entertainment Q1 2024 Earnings Call. My name is Sierra and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]

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

Derek Harmer

Welcome to Accel Entertainment's first quarter 2024 earnings call. Participating on the call today are Andy Rubenstein, Accel's Chief Executive Officer; and Mat 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 & 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 first quarter earnings call. I'm pleased to report we once again had a strong quarter. We reported revenue of $302 million, a year-over-year increase of 2.9% and adjusted EBITDA of $46 million, a year-over-year increase of 0.3%.

Similar to other companies in Illinois, we saw negative same-store sales growth, primarily due to unfavorable weather, especially in January. However, adding new locations in Illinois and Nebraska allowed us to grow revenue overall.