$ACEL
Accel Entertainment, Inc.

2021 Q1 Form 10-Q Financial Statement

#000169899121000020 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $147.1M $106.5M
YoY Change 38.14% 9.3%
Cost Of Revenue $98.89M $68.00M
YoY Change 45.43% 10.39%
Gross Profit $48.18M $37.20M
YoY Change 29.51% 3.91%
Gross Profit Margin 32.76% 34.94%
Selling, General & Admin $24.48M $23.50M
YoY Change 4.15% 45.96%
% of Gross Profit 50.8% 63.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.000M $4.900M
YoY Change 22.45% -18.33%
% of Gross Profit 12.45% 13.17%
Operating Expenses $38.62M $34.50M
YoY Change 11.95% 27.31%
Operating Profit $9.555M $2.143M
YoY Change 345.87% -75.37%
Interest Expense -$3.344M $4.249M
YoY Change -178.7% -241.63%
% of Operating Profit -35.0% 198.27%
Other Income/Expense, Net -$2.797M $17.40M
YoY Change -116.07%
Pretax Income $3.414M $47.90M
YoY Change -92.87% 1918.39%
Income Tax $1.900M -$100.0K
% Of Pretax Income 55.65% -0.21%
Net Earnings $1.501M $48.04M
YoY Change -96.88% 1102.58%
Net Earnings / Revenue 1.02% 45.13%
Basic Earnings Per Share $0.02 $0.62
Diluted Earnings Per Share $0.02 $0.60
COMMON SHARES
Basic Shares Outstanding 93.47M shares 78.00M shares
Diluted Shares Outstanding 94.28M shares 79.09M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.7M $180.5M
YoY Change -4.35% 60079.33%
Cash & Equivalents $172.7M $166.5M
Short-Term Investments $14.00M
Other Short-Term Assets $10.17M $6.286M
YoY Change 61.84%
Inventory
Prepaid Expenses $4.932M $4.243M
Receivables
Other Receivables
Total Short-Term Assets $187.8M $195.0M
YoY Change -3.69% 64891.33%
LONG-TERM ASSETS
Property, Plant & Equipment $143.7M $125.5M
YoY Change 14.5%
Goodwill $45.80M $34.51M
YoY Change 32.71%
Intangibles
YoY Change
Long-Term Investments $30.79M $16.00M
YoY Change 92.41%
Other Assets $258.3M $230.2M
YoY Change 12.22% -49.9%
Total Long-Term Assets $402.0M $355.7M
YoY Change 13.02% -22.59%
TOTAL ASSETS
Total Short-Term Assets $187.8M $195.0M
Total Long-Term Assets $402.0M $355.7M
Total Assets $589.8M $550.7M
YoY Change 7.11% 19.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.58M $23.70M
YoY Change -55.38%
Accrued Expenses $21.74M $300.0K
YoY Change 7145.67% 50.0%
Deferred Revenue $1.600M $1.700M
YoY Change -5.88%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.25M $18.25M
YoY Change 0.0%
Total Short-Term Liabilities $56.24M $47.14M
YoY Change 19.32% 23468.0%
LONG-TERM LIABILITIES
Long-Term Debt $341.8M $384.8M
YoY Change -11.17%
Other Long-Term Liabilities $60.29M $21.10M
YoY Change 185.72% 33.54%
Total Long-Term Liabilities $402.1M $443.8M
YoY Change -9.4% 2708.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.24M $47.14M
Total Long-Term Liabilities $402.1M $443.8M
Total Liabilities $458.4M $491.0M
YoY Change -6.64% 2968.46%
SHAREHOLDERS EQUITY
Retained Earnings -$50.28M -$14.87M
YoY Change 238.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $131.4M $25.25M
YoY Change
Total Liabilities & Shareholders Equity $589.8M $550.7M
YoY Change 7.11% 19.76%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $1.501M $48.04M
YoY Change -96.88% 1102.58%
Depreciation, Depletion And Amortization $6.000M $4.900M
YoY Change 22.45% -18.33%
Cash From Operating Activities $21.59M -$4.349M
YoY Change -596.34% -124.3%
INVESTING ACTIVITIES
Capital Expenditures $2.044M $3.855M
YoY Change -46.98% -30.9%
Acquisitions $483.0K $0.00
YoY Change
Other Investing Activities -$418.0K $120.0K
YoY Change -448.33% 300.0%
Cash From Investing Activities -$2.462M -$3.734M
YoY Change -34.07% -32.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $19.10M $49.22M
YoY Change -61.19% -633.88%
NET CHANGE
Cash From Operating Activities $21.59M -$4.349M
Cash From Investing Activities -$2.462M -$3.734M
Cash From Financing Activities $19.10M $49.22M
Net Change In Cash $38.23M $41.14M
YoY Change -7.07% 1214.22%
FREE CASH FLOW
Cash From Operating Activities $21.59M -$4.349M
Capital Expenditures $2.044M $3.855M
Free Cash Flow $19.54M -$8.204M
YoY Change -338.2% -166.59%

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CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
908000 usd
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-656000 usd
CY2021Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-3341000 usd
CY2020Q1 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 usd
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
650000 usd
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
426000 usd
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
39000 usd
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
131000 usd
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-886000 usd
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-10868000 usd
CY2021Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-335000 usd
CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-392000 usd
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
29000 usd
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-40000 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21586000 usd
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4349000 usd
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2044000 usd
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3855000 usd
CY2021Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
65000 usd
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
121000 usd
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
483000 usd
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2462000 usd
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3734000 usd
CY2021Q1 us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
3000000 usd
CY2020Q1 us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
3000000 usd
CY2021Q1 acel Proceeds From Issuance Of Delayed Draw Notes
ProceedsFromIssuanceOfDelayedDrawNotes
0 usd
CY2020Q1 acel Proceeds From Issuance Of Delayed Draw Notes
ProceedsFromIssuanceOfDelayedDrawNotes
65000000 usd
CY2021Q1 acel Repayments Of Delayed Draw Notes
RepaymentsOfDelayedDrawNotes
1563000 usd
CY2020Q1 acel Repayments Of Delayed Draw Notes
RepaymentsOfDelayedDrawNotes
750000 usd
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
27000000 usd
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
49000000 usd
CY2021Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3000000 usd
CY2020Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
57000000 usd
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
325000 usd
CY2021Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
334000 usd
CY2020Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
3707000 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19103000 usd
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
49218000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
38227000 usd
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
41135000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
134451000 usd
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
125403000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
172678000 usd
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166538000 usd
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
3008000 usd
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
3737000 usd
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3853000 usd
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7290000 usd
CY2021Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
CY2020Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
19160000 usd
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
483000 usd
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 usd
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
483000 usd
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
CY2021Q1 acel Contract With Customer Liability Gross
ContractWithCustomerLiabilityGross
6500000 usd
CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
Description of Business<div style="margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">Accel Entertainment, Inc.'s (and together with its subsidiaries, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">“</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">”)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%"> wholly owned subsidiary, Accel Entertainment Gaming LLC, is a terminal operator licensed by the State of Illinois Gaming Board (“IGB”) since March 15, 2012. Its terminal operator license allows the Company to install and operate video gaming terminals </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">(“VGTs”) </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">in licensed video gaming locations throughout the State of Illinois as approved by individual municipalities. The Company also operates redemption terminals, which also function as automated teller machines (“ATMs”) at its licensed video gaming locations, and amusement equipment at certain locations. The Illinois terminal operator license, which is not transferable or assignable, requires compliance with applicable regulations and the license is renewable annually unless sooner cancelled or terminated. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">In July 2020, the Georgia Lottery Corporation approved one of the Company's consolidated subsidiaries as a licensed operator, or Master Licensee, which allows the Company to install and operate coin operated amusement machines for commercial use by the public for play </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">throughout the State of Georgia</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">. The Company also holds a license from the Pennsylvania Gaming Control Board. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">The Company is subject to various federal, state and local laws and regulations in addition to gaming regulations. </span></div><div style="margin-top:8pt;text-align:justify;text-indent:18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">The Company operates 12,720 and 11,164 video gaming terminals across 2,470 and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">2,353</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%"> locations in the State of Illinois as of March 31, 2021 and 2020, respectively.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">The Company is an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (“</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:144%">JOBS Act</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">”) following the consummation of the reverse recapitalization (see Note 13). The Company has elected to use this extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act and as a result of this election, its financial statements may not be comparable to companies that comply with public company effective dates. The Company will remain an “emerging growth company” until the earliest to occur of (i) the last day of the fiscal year (a) following June 30, 2022, (b) in which Accel has total annual gross revenue of at least $1.0 billion or (c) in which Accel is deemed to be a large accelerated filer, which means the market value of shares of Class A-1 Common Stock that is held by non-affiliates exceeds $700 million as of the last business day of the prior second fiscal quarter, or (ii) the date on which Accel has issued more than $1.0 billion in non-convertible debt during the prior three-year period.</span></div><div style="margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:144%">Impact of COVID-19 on the Condensed Consolidated Financial Statements</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">In response to the COVID-19 outbreak, the </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">IGB </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">made the decision to shut down all VGTs across the State of Illinois starting at 9:00 p.m. on March 16, 2020 and ultimately extended the shutdown through June 30, 2020. This temporary shutdown of Illinois video gaming impacted 15 of the 91 gaming days (or 16% of gaming days) during the three months ended March 31, 2020. As a resurgence of COVID-19 occurred in the fall of 2020, the virus spread exponentially in every geographical region (currently 11 regions) in the State of Illinois. In response, the IGB suspended all video gaming operations across the entire state of Illinois starting at 11:01 PM on Thursday November 19, 2020. Video gaming operations resumed in certain regions of the state beginning on January 16, 2021, and fully resumed in all regions on January 23, 2021. Even though video gaming operations resumed across all regions, certain regions still had government-imposed restrictions that, among other things, limited hours of operation and restricted the number of patrons allowed within the licensed establishments. Given the staggered reopening by region in January of 2021, the temporary shutdown impacted, on average, 18 of the 90 gaming days (or 20% of gaming days) during the three months ended March 31, 2021. In light of these events and their effect on the Company’s employees and licensed establishment partners, the Company took action to help mitigate the potential effects caused by the temporary cessation of operations. During the initial shutdown in 2020, the Company furloughed a significant portion of its employees and deferred certain payments to major vendors. Additionally, members of the Company's senior management decided to voluntarily forgo their base salaries until the resumption of video gaming operations. Beginning in early June 2020, the Company started reinstating </span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">employees from furlough in anticipation of resuming operations on July 1, 2020. During the second shutdown starting in November 2020, the Company furloughed idle staff as appropriate and deferred certain payments to major vendors.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">As a result of these developments, the Company's revenues, results of operations and cash flows have been materially affected, and the Company expects these trends to continue for at least as long as COVID-19 is a threat to the public health. The situation is rapidly changing and additional impacts to the business may arise that the Company is not currently aware of and cannot reasonably anticipate. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">As part of the Company's analysis of the financial reporting impacts of the COVID-19 outbreak, and corollary response in the State of Illinois, including the temporary shutdown of our gaming operations, the Company evaluated its goodwill and long-lived assets for potential impairment triggers as of March 31, 2021. No impairment losses were recorded. The Company will continue to monitor its assets for potential impairment losses in future periods. While the IGB has announced the resumption of all video gaming activities in all regions effective January 23, 2021, it is possible that it or the State of Illinois may order a shutdown by region (currently 11 regions), or a complete suspension of video gaming in the state, or institute stay-at-home, closure or other similar orders or measures in the future in response to a resurgence of COVID-19 or other events. If this were to occur, the Company could recognize impairment losses which could be material.</span></div>
CY2021Q1 acel Numberof Video Game Terminals
NumberofVideoGameTerminals
12720 terminal
CY2020Q1 acel Numberof Video Game Terminals
NumberofVideoGameTerminals
11164 terminal
CY2021Q1 acel Numberof Video Gaming Locations
NumberofVideoGamingLocations
2470 location
CY2020Q1 acel Numberof Video Gaming Locations
NumberofVideoGamingLocations
2353 location
CY2020Q1 acel Covid Response Numberof Days Video Gaming Terminals Inoperable
COVIDResponseNumberofDaysVideoGamingTerminalsInoperable
15 day
CY2020Q1 acel Covid Response Numberof Video Gaming Daysin Quarter
COVIDResponseNumberofVideoGamingDaysinQuarter
91 day
CY2020Q1 acel Covid Response Percentof Days Inoperable During Quarter
COVIDResponsePercentofDaysInoperableDuringQuarter
0.16
CY2021Q1 acel Covid Response Numberof Days Video Gaming Terminals Inoperable
COVIDResponseNumberofDaysVideoGamingTerminalsInoperable
18 day
CY2021Q1 acel Covid Response Numberof Video Gaming Daysin Quarter
COVIDResponseNumberofVideoGamingDaysinQuarter
90 day
CY2021Q1 acel Covid Response Percentof Days Inoperable During Quarter
COVIDResponsePercentofDaysInoperableDuringQuarter
0.20
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Restatement of prior periods: The Company amended the condensed consolidated financial statements for the period ended March 31, 2020 and for the year ended December 31, 2020 in its previously filed Form 10-K. Please see Note 2 to the consolidated financial statements in the Form 10-K for the facts and circumstance on the restatement.
CY2020Q4 acel Contract With Customer Liability Gross
ContractWithCustomerLiabilityGross
6400000 usd
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:144%">Use of estimates</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:144%">: The preparation of condensed consolidated financial statements requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates used by the Company include, among other things, the useful lives for depreciable and amortizable assets, income tax provisions, the evaluation of the future realization of deferred </span>tax assets, projected cash flows in assessing the initial valuation of intangible assets in conjunction with business acquisitions, the selection of useful lives for depreciable and amortizable assets in conjunction with business acquisitions, the valuation of level 3 investments, the valuation of contingent earnout shares and warrants, contingencies, and the expected term of share-based compensation awards and stock price volatility when computing share-based compensation expense. Actual results may differ from those estimates.
CY2019Q4 acel Marketable Security Debt Instrument Monthly Principal Payment
MarketableSecurityDebtInstrumentMonthlyPrincipalPayment
1000000 usd
CY2021Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
500000 usd
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5800000 usd
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
265750000 usd
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
259680000 usd
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
122076000 usd
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
116115000 usd
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
143674000 usd
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
143565000 usd
CY2021Q1 us-gaap Depreciation
Depreciation
6000000.0 usd
CY2020Q1 us-gaap Depreciation
Depreciation
4900000 usd
CY2020Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
400000 usd
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5700000 usd
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1600000 usd
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1600000 usd
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
17800000 usd
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
17700000 usd
CY2021Q1 acel Capitalized Contract Cost Subject To Claw Back
CapitalizedContractCostSubjectToClawBack
1600000 usd
CY2020Q4 acel Capitalized Contract Cost Subject To Claw Back
CapitalizedContractCostSubjectToClawBack
1700000 usd
CY2021Q1 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
27759000 usd
CY2020Q4 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
27364000 usd
CY2021Q1 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
12413000 usd
CY2020Q4 us-gaap Capitalized Contract Cost Accumulated Amortization
CapitalizedContractCostAccumulatedAmortization
12113000 usd
CY2021Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
15346000 usd
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
15251000 usd
CY2021Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
500000 usd
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
226428000 usd
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
226012000 usd
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
63933000 usd
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
58278000 usd
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
162495000 usd
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
167734000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
45800000 usd
CY2021Q1 us-gaap Goodwill
Goodwill
45800000 usd
CY2021Q1 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
36500000 usd
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
367000000 usd
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
347562000 usd
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6917000 usd
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7421000 usd
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
360083000 usd
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
340141000 usd
CY2021Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
18250000 usd
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
18250000 usd
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
341833000 usd
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
321891000 usd
CY2020Q1 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
110423000 usd
CY2020Q1 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
49046000 usd
CY2021Q1 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
4041000 usd
CY2021Q1 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
20270000 usd
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
3013000 usd
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
20943000 usd
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
7333326 shares
CY2019Q4 acel Classof Warrantor Right Number Of Warrants Canceled And Reissued To Prior Stockholders
ClassofWarrantorRightNumberOfWarrantsCanceledAndReissuedToPriorStockholders
2444437 shares
CY2019Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2019Q4 acel Class Of Warrant Or Right Vesting Period After Recapitalization
ClassOfWarrantOrRightVestingPeriodAfterRecapitalization
P30D
CY2018Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
15000000 shares
CY2018Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
CY2017 acel Class Of Warrant Or Right Vesting Period After Recapitalization
ClassOfWarrantOrRightVestingPeriodAfterRecapitalization
P30D
CY2020Q3 acel Class Of Warrant Or Right Conversion Ratio
ClassOfWarrantOrRightConversionRatio
0.25
CY2020Q3 acel Class Of Warrant Or Right Conversion Ratio
ClassOfWarrantOrRightConversionRatio
0.25
CY2020Q3 acel Class Of Warrant Or Right Number Of Warrants Exercised
ClassOfWarrantOrRightNumberOfWarrantsExercised
7189990 shares
CY2020Q3 acel Class Of Warrant Or Right Exercised Percent Of Warrants Outstanding
ClassOfWarrantOrRightExercisedPercentOfWarrantsOutstanding
0.9993
CY2021Q1 acel Sensitivity Analysis Of Fair Value Contingent Consideration Impact Of One Percent Decrease In Discount Rate On Other Expenses
SensitivityAnalysisOfFairValueContingentConsiderationImpactOfOnePercentDecreaseInDiscountRateOnOtherExpenses
100000 usd
CY2021Q1 acel Sensitivity Analysis Of Fair Value Contingent Consideration Impact Of One Percent Increase In Discount Rate On Other Expenses
SensitivityAnalysisOfFairValueContingentConsiderationImpactOfOnePercentIncreaseInDiscountRateOnOtherExpenses
100000 usd
CY2020Q3 acel Sale Of Stock Aggregate Issuance Amount
SaleOfStockAggregateIssuanceAmount
84000000.0 usd
CY2020Q3 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
78700000 usd
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600000 usd
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 usd
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1900000 usd
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000 usd
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.560
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.003
CY2012 us-gaap Loss Contingency Number Of Defendants
LossContingencyNumberOfDefendants
10 location
CY2020Q3 acel Underwriting Fee Percent Stock Issuance Costs
UnderwritingFeePercentStockIssuanceCosts
0.045
CY2020Q3 acel Sale Of Stock Aggregate Issuance Amount
SaleOfStockAggregateIssuanceAmount
84000000 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
1501000 usd
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
48043000 usd
CY2021Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
0 usd
CY2020Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-798000 usd
CY2021Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
1501000 usd
CY2020Q1 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
47245000 usd
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93471000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78003000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
809000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
862000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
228000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94280000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79093000 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5359661 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28217335 shares

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