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Accel Entertainment, Inc. [TPGH-UN] reports annual net loss of $45,603.0
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Company Reports Revenue of $1.2 million
Accel Entertainment, Inc. [TPGH-UN] has reported a net loss of $45,603.0 for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $1.2 million
Based in BURR RIDGE, Illinois, Accel Entertainment, Inc. operates in the SERVICES sector.
In the annual report for the year ended December 31, 2023, compared to the previous years 2022 and 2021, the financial performance of the company is as follows:
Revenues:
- Net gaming revenue increased from $925.009 million in 2022 to $1.113 billion in 2023, showing a growth from the previous year's $705.784 million.
- Total net revenues also increased significantly from $969.797 million in 2022 to $1.170 billion in 2023, compared to $734.707 million in 2021.
Operating Expenses:
- Operating income rose from $96.855 million in 2022 to $107.407 million in 2023, surpassing the $70.192 million recorded in 2021.
- Cost of revenue amounted to $666.126 million in 2022, increasing to $809.524 million in 2023. In comparison, in 2021 it was $494.032 million.
Income and Earnings:
- Net income for the year 2023 was $45.603 million, down from $74.102 million in 2022 but an improvement from $31.559 million in 2021.
- Earnings per common share for basic and diluted in 2023 were $0.53 and $0.53, respectively. This compares to $0.82 and $0.81 in 2022, and $0.34 and $0.33 in 2021.
- The weighted average number of shares outstanding for the year 2023 were 85.949 million for basic and 86.803 million for diluted.
Comprehensive Income:
- Comprehensive income for 2023 was $41.299 million, lower compared to $86.342 million in 2022 and slightly higher than $31.466 million in 2021.
- Other unrealized losses and gains were also reflected in the comprehensive income statement for the respective years.
Overall, the company experienced mixed financial results in 2023 compared to the prior years, with increased revenues but a decrease in net income.
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