
Accel Entertainment is upgraded to BUY as Chicago gaming terminals may commence operations in August, offering significant incremental earnings potential. 2Q26 results exceeded expectations, with revenue up 10% yoy to $368m and adjusted EBITDA rising 11% yoy to $59m, driven by operational efficiencies and state expansion. ACEL benefits from above-sector median EBITDA growth, a strong balance sheet, ongoing share buybacks, and low forward EV/EBITDA valuation multiples.










