Accel Entertainment, Inc.

thank you for attending today's excel entertainment q4 in 2023 earnings call my name is sierra and i will be your moderator today all lines will be muted during the prepared remarks from our management team with an opportunity for questions and answers at the end if you'd like to ask a question please press star 1 on your telephone keypad i'd like to pass the conference over to our host derek harmer welcome to excel entertainment's fourth quarter and year-ended

2023 Earnings Call. Participating on the call today are Andy Rubenstein, Excel's Chief Executive Officer, and Matt Ellis, Excel'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 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 and our filings with the SEC. During the call, we may discuss certain non-GAAP financial measures. For reconciliations of the non-GAAP financial 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.

Thanks, Derek, and good afternoon, everyone. Thank you for joining us for Excel's fourth quarter and 2023 earnings call. I'm pleased to report we had another record-setting year with total revenue of $1.2 billion and adjusted EBITDA of $181 million, year-over-year increases of 21% and 12%, respectively. For the quarter, we reported revenue of $297 million and adjusted EBITDA of $45 million, year-over-year increases of 7% and 3% respectively. Revenue growth throughout 2023 was driven by the sensory acquisition, adding new locations, and 3% same-store sales growth in Illinois. We also saw growth in our developing markets where we continue to add locations, attract new players, and improve our offering with better equipment. Our continued growth demonstrates the strength of our local business model. Our location partners recognize the value we provide and rely on the incremental revenues our high-quality offering brings to their businesses. On the expense side, our cost structure continues to remain in line with our expectations despite the inflationary impacts on labor and other expenses such as parts. Our asset-light business model and highly variable cost structure allow us to quickly calibrate our business to any changes in the economy. Looking at future growth, Our pipeline remains more active than ever as we evaluate multiple opportunities across the country. We are working hard to get the right opportunities across the finish line and look forward to sharing them with you in the near future. We are also optimistic about the opportunities in the markets where we currently operate. Our strong balance sheet, locally focused business model, and consistent growth offers one of the best returns in gaming. With that, I'd like to turn it over to Matt to walk you through our financials in more detail.