Accel Entertainment, Inc.

Ladies and gentlemen, please remain holding. Your conference call will begin shortly. Again, please remain holding. Your conference call will begin shortly. Thank you. Hello, everyone. Thank you for attending today's Excel 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. If you would like to ask a question, press star 1 on your telephone keypad. I would now like to pass the conference over to our host, Derek Harmer.

Welcome to Excel Entertainment's first quarter 2024 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 statement 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 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 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. Our location partners recognize the value we provide and rely on the incremental revenues our convenient, high-quality offering brings to their businesses. On the expense side, we continue to optimize our operations, which has helped us maintain a stable cost structure despite inflationary impacts. Our highly variable cost structure allows us to quickly adjust 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 are currently operating. Our strong balance sheet, proven business model, and consistent growth offer one of the best investments in gaming. With that, I'd like to turn it over to Matt to walk you through our financials in more detail.