Every 8-K that Accel Entertainment, Inc. (ACEL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow ACEL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ACEL filings page.
Accel Entertainment, Inc. reports a governance change in which its Board of Directors appointed Chief Executive Officer Mark Phelan as a 2027 Class director, effective August 7, 2026, with a term expiring at the 2027 Annual Meeting of Stockholders.
The company increased the size of the Board from 9 to 10 directors to accommodate this appointment. Phelan will not receive additional compensation for his director role and will continue under his existing compensation arrangements as Chief Executive Officer. The company states that his appointment is not pursuant to any arrangement or related-party transaction requiring disclosure under Item 404(a) of Regulation S-K.
Accel Entertainment reported quarterly record revenue of $368 million for the three months ended June 30, 2026, up 10% from Q2 2025. Net income was $13 million, a 72% increase, and Adjusted EBITDA rose 11% to $59 million.
The company ended Q2 with 4,676 locations and 29,281 gaming terminals, increases of 5.6% and 6.9% year over year, with notably higher location hold-per-day in Illinois, Nebraska and Georgia. Q2 operating cash flow was $20 million and free cash flow $10 million, aided by a tax credit purchase.
Accel held $255 million of cash and cash equivalents and net debt of $318 million as of June 30, 2026, implying net leverage of about 1.4x trailing twelve-month Adjusted EBITDA. The company repurchased approximately 500,000 shares for $5.6 million during the quarter.
Accel Entertainment, Inc. reports that Chief Compliance Officer Derek Harmer will resign effective March 31, 2027, then, subject to specified conditions, join the Compliance Committee as an independent contractor compensated $10,000 per quarter. A Transition Agreement preserves vesting of his time-based RSUs, including a 2026 grant of 42,085 RSUs, deems his service on the Compliance Committee continuous for vesting, treats performance-based RSUs as if a covered termination occurred on the Transition Date, and allows 90 days to exercise vested stock options. He remains eligible for a 2026 bonus with his individual performance component deemed at least 75% of target, and any unvested time-based RSUs vest in full if he is removed from the Compliance Committee without Cause before full vesting.
The company appoints Stan Guidroz, age 59, as Chief Operating Officer effective July 14, 2026, as Mark Phelan relinquishes the COO title ahead of becoming Chief Executive Officer in August 2026. Guidroz has led Toucan Gaming, Accel’s Louisiana subsidiary in which Accel owns 85% and Toucan Management 15%, under a Purchase Agreement requiring annual installment payments of $500,000 for ten years, with nine installments remaining. His amended and restated employment agreement provides an initial annual base salary of $500,000, a target bonus equal to 65% of salary, a one-time promotion grant of 20,000 RSUs, and, from 2027, annual equity awards with a target grant-date value equal to 115% of salary, plus severance, bonus continuation, equity acceleration upon certain covered terminations and change in control, and two-year post-employment non-competition and non-solicitation covenants.
Accel Entertainment, Inc. approved 2026 long- and short-term incentive programs for named executive officers. The 2026 long-term awards split target value between time-based RSUs (50%) and performance-based PSUs (50%), with participants able to elect up to 100% PSUs, subject to minimum PSU and stock-price goal weightings.
Time-based RSUs vest 33.3% annually over three years from February 25, 2026. PSUs have a performance period from January 1, 2026 to December 31, 2028, based on Relative TSR versus the Russell 3000 Index and stock price goals. For example, Mark Phelan received 41,313 target Stock Price Goal PSUs, while Scott Levin and Brett Summerer received combinations of RSUs and PSUs.
The 2026 short-term cash bonus program is based 80% on financial metrics and 20% on individual goals. Financial metrics include EPS (80% weighting), RONA (10%), capital expenditures (5%), and Illinois top customer retention (5%). Target bonus opportunities are 100% of base salary for Mark Phelan and 65% for Scott Levin and Brett Summerer.
Accel Entertainment, Inc. reported the results of its 2026 Annual Meeting of Stockholders. Shareholders elected six directors—Karl Peterson, Kathleen Phillips, Doris M. Robinson, Kenneth B. Rotman, Andrew Rubenstein, and Bruce D. Wardinski—to one-year terms expiring at the 2027 annual meeting.
Stockholders also approved, on a non-binding advisory basis, the compensation of the company’s named executive officers, with 64,713,196 shares voting for the proposal. In addition, they ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 72,160,763 shares voting in favor.
Accel Entertainment reported record first-quarter 2026 revenue of $351.6 million, up about 8.5% from a year earlier, driven by growth across several states. Net income was essentially flat at $14.7 million, while Adjusted EBITDA rose 8.6% to $53.8 million.
Illinois, the largest market, generated $252.8 million of net revenues, up 8.3%, while newer markets like Nebraska and Georgia posted double-digit percentage gains. Total locations increased 3.4% to 4,540 and gaming terminals grew 4.3% to 28,353, supporting higher location hold-per-day in most states.
The company ended March 31, 2026 with $274.1 million in cash and net debt of $306.5 million, implying net leverage of about 1.4x trailing twelve‑month Adjusted EBITDA of $214.4 million. Accel also returned capital by repurchasing 1.1 million Class A‑1 shares for $12 million and generated first-quarter free cash flow of $20.2 million, a conversion rate of roughly 38% of Adjusted EBITDA.
Accel Entertainment reported record results for the fourth quarter and full year 2025, showing broad-based growth and stronger profitability. Fourth-quarter revenue reached $341.4 million, up 7.5% year over year, with locations rising to 4,501 and gaming terminals to 27,950.
For 2025, revenue grew 8.1% to $1.33 billion, while net income climbed 45.3% to $51.3 million. Diluted EPS increased to $0.60 from $0.41, and Adjusted EBITDA rose 11.1% to $210.1 million, reflecting improved margins and operating leverage.
Cash and cash equivalents were $296.6 million with Net debt of about $310.9 million at year-end. The company completed a new $900 million credit facility maturing in 2030 and repurchased roughly 3.7 million shares in 2025, including 1.5 million in the fourth quarter.
Accel Entertainment is implementing a planned leadership transition. Andy Rubenstein, currently Chief Executive Officer and President, has been appointed Chairman of the Board and will become a non-employee advisor after August 7, 2026, while remaining on the Board if he maintains at least 5% ownership.
Mark Phelan, now President – US Gaming, becomes Chief Operating Officer immediately and will succeed Rubenstein as Chief Executive Officer and President on the August 7, 2026 transition date. New agreements outline Rubenstein’s advisory RSUs of 78,930 in 2026 plus 335,516 vesting over three years, and increase Phelan’s salary and target incentives tied to his expanded role.
Accel Entertainment, Inc. filed a current report to furnish a company press release under Regulation FD. The report states that a press release dated January 8, 2026 is attached as Exhibit 99.1 and is incorporated by reference. The company notes that this information is being furnished, not filed, so it is not subject to certain liability provisions of the Exchange Act and is not automatically incorporated into other securities law filings.
Accel Entertainment, Inc. disclosed that its Audit Committee completed a competitive process to select the independent registered public accounting firm for the fiscal year ending December 31, 2026. On December 18, 2025, the Committee approved engaging Deloitte & Touche LLP as the company’s independent auditor for 2026, subject to completion of Deloitte’s standard client acceptance procedures, and approved the dismissal of KPMG LLP following completion of KPMG’s audit for the fiscal year ending December 31, 2025.
The company notes that KPMG’s audit reports for the fiscal years ended December 31, 2024 and 2023 contained no adverse opinions, disclaimers, or qualifications, and that there were no disagreements or reportable events with KPMG during those periods or subsequent interim periods. Accel also states that it and its representatives did not consult with Deloitte on the types of matters described in the SEC’s auditor change rules before this engagement, and it has filed KPMG’s confirming letter as an exhibit.
Accel Entertainment (ACEL) furnished an 8‑K announcing it issued a press release with financial and operating results for the three months ended September 30, 2025. The materials are attached as Exhibits 99.1 (press release) and 99.2 (Third Quarter 2025 earnings presentation) under Item 2.02.
The information is furnished, not deemed filed under Section 18 of the Exchange Act. The company also notes it discloses material information via SEC filings, press releases, public conference calls, and its investor relations website.
Accel Entertainment, Inc. appointed Brett Summerer as Chief Financial Officer effective September 22, 2025. His annual base salary is $460,000, with a discretionary annual bonus target of 65% of base (pro-rated first year) and eligibility for a discretionary equity award in 2026 with a target grant-date value equal to 115% of base (pro-rated first year). He was granted 40,000 restricted stock units, half vesting on the second anniversary and the remainder on the third anniversary, subject to continued employment. For a Covered Termination he is entitled to a severance payment equal to salary plus earned but unpaid prior-year bonus and target bonus for the year of termination, plus 12 months of COBRA. If termination occurs within 12 months after a Change in Control, bonus is prorated and time-based equity vests; performance award treatment is governed by award agreements. The agreement includes one-year post-termination non-compete and non-solicitation covenants. The filing states there are no related-party arrangements or material interests to disclose.
Accel Entertainment entered into a new Credit Agreement establishing a $600 million Term Loan Facility and a $300 million Revolving Loan Facility maturing September 10, 2030. Proceeds of initial borrowings repaid and terminated the company’s prior credit agreement. The revolver includes a $15 million letter-of-credit sublimit and a $25 million swingline sublimit. Borrowings bear interest at either a base rate (highest of federal funds+0.5%, CIBC prime, or Term SOFR+1%) plus a margin of 0.75%–1.75% for base rate loans, or Term SOFR plus 1.5%–2.5% for SOFR loans, with the margin tied to the Borrower’s First Lien Net Leverage Ratio. Obligations are guaranteed by the company and material domestic subsidiaries and secured by first-priority liens on substantially all assets, subject to customary exceptions. The agreement includes customary covenants and requires maintaining a First Lien Net Leverage Ratio ≤4.75x and a Fixed Charge Coverage Ratio ≥1.20x at each fiscal quarter end. The full Credit Agreement is filed as Exhibit 10.1 and a press release as Exhibit 99.1.