ACCEL ENTERTAINMENT, INC. : Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
August 06, 2020 at 08:01 am EDT
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Item 1.01. Entry into a Material Definitive Agreement.
On August 4, 2020, in order to amend its existing Credit Agreement dated
November 13, 2019 (the "Credit Agreement"), Accel Entertainment, Inc. (the
"Company") and the other parties thereto entered into Amendment No. 1 to the
Credit Agreement (the "Credit Agreement Amendment"). The Credit Agreement
Amendment, among other things, provides a waiver of financial covenant breach
for the periods ended September 30, 2020 through March 31, 2021 of the First
Lien Net Leverage Ratio and Fixed Charge Coverage Ratio (each as defined under
the Credit Agreement).
The foregoing summary and description of the Credit Agreement Amendment does not
purport to be complete and is qualified in its entirety by reference to the full
text of the Credit Agreement Amendment, a copy of which is filed as Exhibit
10.9(A) with this Current Report on Form 8-K and is incorporated herein by
reference.
Item 2.02. Results of Operations and Financial Condition.
On August 6, 2020, the Company issued a press release announcing its financial
and operating results for the second quarter ended June 30, 2020. Copies of the
Company's press release and investor presentation are attached and furnished
herewith as Exhibits 99.1 and 99.2 to this Form 8-K and are incorporated herein
by reference.
Information in this report (including Exhibits 99.1 and 99.2) furnished pursuant
to Item 2.02 shall not be deemed to be "filed" for the purposes of Section 18 of
the Securities Exchange Act of 1934 or otherwise subject to the liabilities of
that Section.
The Company announces material information to the public through a variety of
means, including filings with the Securities and Exchange Commission, press
releases, public conference calls, and the Company's investor relations website
(https:// ir.accelentertainment.com) as means of disclosing
material non-public information and for complying with its disclosure
obligations under Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release dated August 6, 2020
99.2 Accel Investor Presentation - Second Quarter 2020 Earnings
Presentation
10.9(A) Amendment No.1 to the Credit Agreement, by and among the Registrant,
Capital One, National Association and the other parties thereto, dated
November 13, 2019.
2
Accel Entertainment, Inc. is a distributed gaming operator in the United States and a partner for local business owners in the markets it serves. The Company's business consists of the installation, maintenance and operation of gaming terminals, redemption devices that disburse winnings and contain automated teller machine (ATM) functionality, and other amusement devices in authorized non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores. It also operates ATMs in gaming and non-gaming locations. The Companyâs gaming-as-a-service platform provides local businesses with a turnkey gaming solution. It owns all of its gaming equipment and manages the operating process for its licensed partners. In addition to its gaming business, it also installs, operates and services redemption devices that have ATM functionality, ATMs and amusement devices, including jukeboxes, dartboards, pool tables, pinball machines and others.
ACCEL ENTERTAINMENT, INC. : Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
ACCEL ENTERTAINMENT, INC. 
