0001698991-22-000004 | 10-K | XBRL Viewer

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CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Total net revenues	$ 734,707	$ 316,352	$ 428,696
Operating expenses:
Cost of revenue (exclusive of depreciation and amortization expense shown below)	494,032	211,086	282,008
General and administrative	110,818	77,420	69,330
Depreciation and amortization of property and equipment	24,636	20,969	26,398
Amortization of route and customer acquisition costs and location contracts acquired	22,040	22,608	17,975
Other expenses, net	12,989	8,948	19,649
Total operating expenses	664,515	341,031	415,360
Operating income (loss)	70,192	(24,679)	13,336
Interest expense, net	12,702	13,707	12,860
Loss (gain) on change in fair value of contingent earnout shares	9,762	(8,484)	9,837
(Gain) loss on change in fair value of warrants	0	(12,574)	21,063
Loss on debt extinguishment	1,152	0	1,141
Income (loss) before income tax expense (benefit)	46,576	(17,328)	(31,565)
Income tax expense (benefit)	15,017	(16,918)	5,199
Net income (loss)	$ 31,559	$ (410)	$ (36,764)
Earnings (loss) per share:
Earnings (loss) per share - basic (in usd per share)	$ 0.34	$ (0.00)	$ (0.59)
Earnings (loss) per share - diluted (in usd per share)	$ 0.33	$ (0.02)	$ (0.59)
Weighted average number of shares outstanding:
Weighted average number of shares outstanding - basic (in shares)	93,781,000	83,045,000	61,848,000
Weighted average number of shares outstanding - diluted (in shares)	94,638,000	83,113,000	61,848,000
Comprehensive income (loss)
Net income (loss)	$ 31,559	$ (410)	$ (36,764)
Unrealized (loss) gain on investment in convertible notes (net of income taxes of $(36) and $36, respectively)	(93)	93	0
Comprehensive income (loss)	31,466	(317)	(36,764)
Net gaming
Total net revenues	705,784	300,520	410,636
Amusement
Total net revenues	16,667	9,247	9,749
ATM fees and other revenue
Total net revenues	$ 12,256	$ 6,585	$ 8,311

CONSOLIDATED STATEMENTS OF OPERATIONS and COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Income taxes for unrealized gain on investment in convertible notes	$ (36)	$ 36

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 198,786	$ 134,451
Prepaid expenses	6,998	5,549
Income taxes receivable	0	3,341
Investment in convertible notes (current)	32,065	0
Other current assets	10,146	8,643
Total current assets	247,995	151,984
Property and equipment, net	152,251	143,565
Other assets:
Route and customer acquisition costs, net	15,913	15,251
Location contracts acquired, net	150,672	167,734
Goodwill	46,199	45,754
Investment in convertible notes, less current portion	0	30,129
Deferred income tax asset	0	3,824
Other assets	3,043	2,000
Total noncurrent assets	215,827	264,692
Total assets	616,073	560,241
Current liabilities:
Current maturities of debt	17,500	18,250
Current portion of route and customer acquisition costs payable	2,079	1,608
Accrued location gaming expense	3,969	0
Accrued state gaming expense	11,441	0
Accounts payable and other accrued expenses	14,616	23,666
Accrued compensation and related expenses	8,886	5,853
Current portion of consideration payable	13,344	3,013
Total current liabilities	71,835	52,390
Long-term liabilities:
Debt, net of current maturities	324,022	321,891
Route and customer acquisition costs payable, less current portion	3,953	4,064
Consideration payable, less current portion	12,706	20,943
Contingent earnout share liability	42,831	33,069
Warrant and other long-term liabilities	17	13
Deferred income tax liability	2,248	0
Total long-term liabilities	385,777	379,980
Stockholders’ equity:
Preferred Stock, par value of $0.0001; 1,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2021 and December 31, 2020	0	0
Class A-1 Common Stock, par value $0.0001; 250,000,000 shares authorized; 93,410,563 shares issued and outstanding at December 31, 2021; 93,379,508 shares issued and outstanding at December 31, 2020	9	9
Treasury stock, at cost	(8,983)	0
Additional paid-in capital	187,656	179,549
Accumulated other comprehensive income	0	93
Accumulated deficit	(20,221)	(51,780)
Total stockholders' equity	158,461	127,871
Total liabilities and stockholders' equity	$ 616,073	$ 560,241

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	93,410,563	93,379,508
Common stock, shares outstanding (in shares)	93,410,563	93,379,508

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Income	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2018			58,491,281		1,311,880
Beginning balance at Dec. 31, 2018	$ 57,118	$ 2,596	$ 6	$ 80,146	$ (5,832)	$ 0	$ (17,202)	$ 2,596
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock-based awards (in shares)	2,590,274		342,139		1,244,725
Exercise of stock-based awards	$ 3,225			(4,299)	$ 7,524
Exercise of warrants (in shares)	190,575		3,229,295		46,409
Exercise of warrants	$ 3,392			3,165	$ 227
Stock-based compensation	2,236			2,236
Contributed capital, professional service fees paid by shareholder	2,891			2,891
Shares exchanged for withholding on stock options and shares repurchased (in shares)					(906,128)
Shares exchanged for withholding on stock options and shares repurchased	(9,331)				$ (9,331)
Net equity deficit from reverse recapitalization (in shares)			14,574,755		926,874
Net equity deficit from reverse recapitalization	(68,373)		$ 2	(75,787)	$ 7,412
Unrealized gain on investment in convertible notes	0
Net income (loss)	(36,764)						(36,764)
Ending balance (in shares) at Dec. 31, 2019			76,637,470		0
Ending balance at Dec. 31, 2019	(43,010)		$ 8	8,352	$ 0	0	(51,370)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of Class A-2 Common Stock to Class A-1 Common Stock (in shares)			1,666,636
Conversion of Class A-2 Common Stock to Class A-1 Common Stock	$ 19,924			19,924
Exercise of stock-based awards (in shares)	359,987		359,987
Exercise of stock-based awards	$ 839			839
Exercise of warrants (in shares)			510
Exercise of warrants	4			4
Stock-based compensation	5,538			5,538
Exchange of warrants for common stock (in shares)			5,581,890
Exchange of warrants for common stock	54,471			54,471
Issuance of common stock, net (in shares)			9,133,015
Issuance of common stock, net	90,422		$ 1	90,421
Unrealized gain on investment in convertible notes	93					93
Net income (loss)	(410)						(410)
Ending balance (in shares) at Dec. 31, 2020			93,379,508		0
Ending balance at Dec. 31, 2020	$ 127,871		$ 9	179,549	$ 0	93	(51,780)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock-based awards (in shares)	577,719		732,360
Exercise of stock-based awards	$ 1,704			1,704
Stock-based compensation	$ 6,403			6,403
Repurchase of common stock (in shares)	(701,305)		(701,305)		(701,305)
Repurchase of common stock	$ (8,983)				$ (8,983)
Unrealized gain on investment in convertible notes	(93)					(93)
Net income (loss)	31,559						31,559
Ending balance (in shares) at Dec. 31, 2021			93,410,563		701,305
Ending balance at Dec. 31, 2021	$ 158,461		$ 9	$ 187,656	$ (8,983)	$ 0	$ (20,221)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 31,559	$ (410)	$ (36,764)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	24,636	20,969	26,398
Amortization of route and customer acquisition costs and location contracts acquired	22,040	22,608	17,975
Amortization of debt issuance costs	2,099	2,064	655
Contributed capital, professional service fees paid by shareholder	0	0	2,891
Stock-based compensation	6,403	5,538	2,236
Loss (gain) on change in fair value of contingent earnout shares	9,762	(8,484)	9,837
(Gain) loss on change in fair value of warrants	0	(12,574)	21,063
(Gain) loss on disposal of property and equipment	(63)	47	100
Loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable	711	910	342
Loss on debt extinguishment	1,152	0	1,141
Remeasurement of contingent consideration	4,347	(584)	6,723
Payments on consideration payable	(2,566)	(1,766)	0
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration	2,617	2,030	1,623
Payments for debt issuance costs	(156)	0	0
Deferred income taxes	6,108	(16,836)	4,081
Changes in operating assets and liabilities, net of acquisition of businesses:
Prepaid expenses and other current assets	(4,982)	(2,904)	(3,507)
Income taxes receivable	3,341	566	(1,804)
Route and customer acquisition costs	(3,077)	(603)	(5,438)
Route and customer acquisition costs payable	97	(780)	(1,342)
Accounts payable and accrued expenses	3,738	(16,876)	(899)
Accrued compensation and related expenses	3,033	3,452	494
Other assets	(44)	(72)	(240)
Net cash provided by (used in) operating activities	110,755	(3,705)	45,565
Cash flows from investing activities:
Purchases of property and equipment	(29,753)	(25,761)	(20,796)
Proceeds from the sale of property and equipment	1,405	394	121
Purchase of investment in convertible notes	0	0	(30,000)
Payments on consideration payable	0	(299)	0
Business and asset acquisitions, net of cash acquired	(6,196)	(35,769)	(100,857)
Net cash used in investing activities	(34,544)	(61,435)	(151,532)
Cash flows from financing activities:
Proceeds from term loan	12,338	0	240,000
Payments on term loan	(9,000)	(12,000)	(115,625)
Proceeds from delayed draw term loans	0	65,000	169,000
Payments on delayed draw term loans	(4,688)	(5,438)	(159,000)
Proceeds from revolving debt	42,000	49,000	179,250
Payments on revolving debt	(42,000)	(107,500)	(187,750)
Payments for debt issuance costs	(364)	(677)	(9,374)
Payments for repurchase of common shares	(8,983)	0	0
Proceeds from issuance of common stock, net	0	90,422	0
Proceeds from exercise of stock options and warrants	1,704	847	3,583
Payments on consideration payable	(2,792)	(5,448)	(2,321)
Payments on capital lease obligation	0	0	(531)
Proceeds from capital infusion in reverse recapitalization	0	0	27,030
Tax withholding on share-based payments	(91)	(18)	(5,121)
Net cash (used in) provided by financing activities	(11,876)	74,188	139,141
Net increase in cash and cash equivalents	64,335	9,048	33,174
Cash and cash equivalents:
Beginning of year	134,451	125,403	92,229
End of year	198,786	134,451	125,403
Cash payments for:
Interest	9,647	12,854	12,024
Income taxes	8,589	0	1,759
Supplemental schedules of noncash investing and financing activities:
Purchases of property and equipment in accounts payable and accrued liabilities	2,718	14,992	11,501
Common stock offering costs in accounts payable and accrued liabilities	0	364	0
Less impact from conversion of treasury stock and issuance of warrants	0	(19,924)	0
Accrued debt issuance costs	3,956	0	0
Acquisition of businesses and assets:
Total identifiable net assets acquired	6,948	39,731	119,178
Less cash acquired	(646)	(716)	(8,861)
Less contingent consideration	(106)	(3,246)	(7,216)
Less promissory note	0	0	(2,244)
Cash purchase price	$ 6,196	$ 35,769	$ 100,857

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Accel Entertainment, Inc., and its subsidiaries (“the Company”), through its wholly owned subsidiary, Accel Entertainment Gaming LLC, is a terminal operator licensed by the State of Illinois Gaming Board (“IGB”) since March 15, 2012. Its Illinois terminal operator license allows the Company to install and operate video gaming terminals (“VGTs”) in licensed video gaming locations throughout the State of Illinois as approved by individual municipalities. The Company also operates redemption terminals, which also function as automated teller machines (“ATMs”) at its licensed video gaming locations, and amusement equipment at certain locations. The Company's terminal operator license in Illinois, which is not transferable or assignable, requires compliance with applicable regulations and the license is renewable annually unless sooner cancelled or terminated. In July 2020, the Georgia Lottery Corporation approved one of the Company's consolidated subsidiaries as a licensed operator, or a Master Licensee, which allows the Company to begin the installation and operation of coin operated amusement machines for commercial use by the public for play throughout the State of Georgia. On December 30, 2021, one of the Company's consolidated subsidiaries began amusement operations in Iowa. The Company is subject to various federal, state and local laws and regulations in addition to gaming regulations. The Company operates 13,639 and 12,247 VGTs across 2,584 and 2,435 locations in the State of Illinois as of December 31, 2021 and 2020, respectively. On November 20, 2019, TPG Pace Holdings Corp., (“TPG Holdings”) entered into a Transaction Agreement with each of the stockholders of Accel Entertainment, Inc. (“Accel”). Pursuant to the Transaction Agreement and in connection therewith, TPG Holdings acquired, directly or indirectly, all of the issued and outstanding shares of common stock and preferred stock from the Accel stockholders. In connection with the closing of the transaction, TPG Holdings changed its name to Accel Entertainment, Inc. This transaction was accounted for as a reverse recapitalization. For more information on this transaction, see Note 3. The Company is an emerging growth company ("EGC") under the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) following the consummation of the merger of TPG Pace Holding Corp. and Accel Entertainment, Inc. The Company has elected to use this extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act and as a result of this election, its financial statements may not be comparable to companies that comply with public company effective dates. The Company will remain an EGC until the earliest to occur of (i) the last day of the fiscal year (a) following June 30, 2022, (b) in which Accel has total annual gross revenue of at least $1.0 billion or (c) in which Accel is deemed to be a large accelerated filer, which means the market value of Class A-1 common stock that is held by non-affiliates exceeds $700 million as of the last business day of the prior second fiscal quarter, and (ii) the date on which Accel has issued more than $1.0 billion in non-convertible debt during the prior three-year period. Impact of COVID-19 on the Consolidated Financial Statements In its initial response to the COVID-19 outbreak, the IGB made the decision to shut down all VGTs across the State of Illinois starting at 9:00 p.m. on March 16, 2020 and ultimately extended the shutdown through June 30, 2020. As COVID-19 began a resurgence in the fall of 2020, the virus spread exponentially in every geographical region (currently 11 regions) in the State of Illinois. In response, the IGB suspended all video gaming operations until further notice across the entire state of Illinois starting at 11:01 PM on Thursday November 19, 2020. Video gaming operations resumed in certain regions of the state beginning on January 16, 2021, and fully resumed in all regions on January 23, 2021. Even though video gaming operations resumed across all regions, certain regions still had government-imposed restrictions that, among other things, limited hours of operation and restricted the number of patrons allowed within in the licensed establishments. These temporary shutdowns of Illinois video gaming impacted 148 of the 365 gaming days (or 40% of gaming days) during the year ended December 31, 2020. In light of these events and their effect on the Company’s employees and licensed establishment partners, the Company took action to position itself to help mitigate the effects of the temporary cessation of operations. During the initial shutdown, the Company furloughed a significant portion of its employees and deferred certain payments to major vendors. Additionally, members of the Company's senior management decided to voluntarily forgo their base salaries until the resumption of video gaming operations. Beginning in early June 2020, the Company started reinstating employees from furlough in anticipation of resuming operations on July 1, 2020. During the second shutdown, the Company furloughed idle staff as appropriate and deferred certain payments to major vendors. As a result of these developments, the Company's revenues, results of operations and cash flows for the year ended December 31, 2020 were materially affected. The COVID-19 situation is rapidly changing as new variant strains continue to pose a threat to the public health and additional impacts to the business and financial results may arise that the Company is not aware of currently. The Company incurred non-recurring, one-time expenses of $1.2 million ($2.5 million of costs less recoveries under the CARES Act of $1.3 million) for the year ended December 31, 2020, for costs to provide benefits (e.g., employee portion of health insurance premiums) for furloughed employees during the IGB-mandated COVID-19 shutdown. These costs are included within other expenses, net. The Company also spent $2.0 million in capital costs for the year ended December 31, 2020 related to the purchase of IGB-mandated spacers for its VGTs to promote social distancing requirements within the gaming area and incurred operating expenses of $0.8 million for the year ended December 31, 2020 related to cleaning, disinfecting and sanitizing supplies. While the IGB announced the resumption of all video gaming activities in January 2021, it is possible that it or the State of Illinois may order a shutdown by region, or a complete suspension of video gaming in the state, or institute stay-at-home, closure or other similar orders or measures in the future in response to a resurgence of COVID-19 and its related variants or other events. If this were to occur, the Company's revenues, results of operations and cash flows could be materially affected and the Company could recognize impairment losses which could be material.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of presentation and preparation: The consolidated financial statements and accompanying notes were prepared in conformity with U.S. GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and of its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation.

Previously adopted accounting pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing revenue recognition guidance and creates a new topic for Revenue from Contracts with Customers. The guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This guidance also substantially revises required interim and annual disclosures. The Company, as an EGC, elected to use the non-public effective date and adopted the standard in the fourth quarter of 2019 for the annual period ended December 31, 2019. The Company also elected the modified retrospective adoption approach and applied the standard to all contracts open as of January 1, 2019. The Company's quarterly financial statement disclosure for the first nine months of 2019 reflect the previous accounting standard of FASB Accounting Standards Codification ("ASC") 605, Revenue Recognition, and will not be restated for the adoption of Topic 606. The cumulative impact of the new revenue standard for fiscal year 2019 was recorded in the fourth quarter and reflects the adjustment as if the Company adopted the standard as of January 1, 2019. The timing and amount of revenue recognized by the Company did not change upon the adoption of the new standard, however the Company's accounting for route acquisition costs was impacted. ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers (“ASC 340-40”), issued in conjunction with ASU 2014-09, provides updated guidance around accounting for the incremental costs of obtaining a contract with a customer and for the costs incurred to fulfill a contract with a customer. ASC 340-40 states that an entity should amortize contract cost assets “on a systemic basis that is consistent with the transfer to the customer of the good or services to which the asset relates”, which typically corresponds to the period in which revenue will be recognized. The Company chose

straight-line amortization of the contracts as it felt that best depicted when revenue would be recognized and when customers are visiting the gaming establishments. When determining the appropriate amortization period under ASC 340-40, the Company evaluated the impact of any renewal clauses that are likely to be exercised. The Company focused on whether commissions paid for renewals were commensurate with commissions paid on the original contract. The Company determined the renewal commissions were not commensurate and the amortization period should include expected renewals. As such, the period over which route and customer acquisition costs are amortized was extended to include expected renewals which resulted in an increase to the average life to 12.4 years upon adoption. The Company recorded a cumulative effect adjustment, net of taxes, to accumulated deficit of $2.6 million for the year ended December 31, 2019, relating to the decreased in accumulated amortization of route acquisition costs.

Use of estimates: The preparation of consolidated financial statements requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates used by the Company include, among other things, the useful lives for depreciable and amortizable assets, income tax provisions, the evaluation of the future realization of deferred tax assets, projected cash flows in assessing the initial valuation of intangible assets in conjunction with business and asset acquisitions, the selection of useful lives for depreciable and amortizable assets in conjunction with business and asset acquisitions, the valuation of level 3 investments, the valuation of contingent earnout shares and warrants, contingencies, and the expected term of share-based compensation awards and stock price volatility when computing share-based compensation expense. The Company also estimated stock prices prior to the reverse recapitalization discussed in Note 3 when computing share-based compensation expense. Actual results may differ from those estimates.

Change in estimate: During the fourth quarter of 2021, the Company conducted a review of its estimate of depreciable lives for its gaming terminals and equipment. As a result of this review, the Company extended the useful lives of its gaming terminals and equipment from 10 years to 13 years as the equipment is lasting longer than originally estimated. The Company has many gaming terminals and equipment that were purchased when the Company started operations in 2012 that are still being used today.

Also during the fourth quarter of 2021, the Company conducted a review of its estimate of the amortization periods for its route and customer acquisition costs and its location contracts. As a result of this review, the Company extended the amortization period of its route and customer acquisition costs from 12.4 years to 18 years and its location contracts from 10 years to 15 years. In both cases the extended useful lives reflect the Company's strong relationship with its licensed establishment partners as demonstrated by continued high contract renewal rates.

The impact of these changes in estimate for the year ended December 31, 2021, was as follows (in thousands):


	Year ended
	December 31, 2021
Decrease to depreciation expense	$	1,232
Decrease to amortization expense	$	2,688
Increase to net income	$	3,920
Increase to net income per share	$	0.04

Segment information: The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is the chief executive officer, who has ultimate responsibility for the operating performance of the Company and the allocation of resources. The CODM assesses the Company’s performance and allocates resources based on consolidated results, and this is the only discrete financial information that is regularly reviewed by the CODM.

Cash and cash equivalents: Cash and cash equivalents include bank deposit accounts; term bank deposit accounts; uncollected cash in the Company’s video gaming terminals, ATMs, and redemption terminals; and cash in Company vaults.

The Company’s policy is to limit the amount of credit exposure to any one financial institution. The Company maintains its cash in accounts which may at times exceed Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses in such accounts.

Convertible notes: At acquisition, an entity shall classify debt securities as trading, available-for-sale, or held-to-maturity. While the Company has no the intention of selling the notes, it cannot classify them as held-to-maturity due to the conversion feature. Therefore, the Company has classified its investment in convertible notes as available for sale.

Property and equipment: Property and equipment are stated at cost or fair value at the date of acquisition. Maintenance and repairs are charged to expense as incurred. Major additions, replacements and improvements are capitalized. Spare parts are included in other current assets when acquired and are expensed when used to repair equipment. Depreciation has been computed using the straight-line method over the following estimated useful lives:


			Years
Gaming terminals and equipment			13
Amusement and other equipment			7
Office equipment and furniture			7
Computer equipment and software			3-5
Leasehold improvements			5
Vehicles			5
Buildings and improvements			15-29

Leasehold improvements are amortized over the shorter of the useful life or the lease.

Development costs directly associated with the acquisition, development and construction of a project are capitalized as a cost of the project during the periods in which activities necessary to prepare the property for its intended use are in progress. Interest costs associated with major construction projects are capitalized as part of the cost of the constructed assets. When no debt is incurred specifically for a project, interest is capitalized on amounts expended for the project using the weighted-average cost of borrowing. Capitalization of interest ceases when the project (or discernible portions of the project) is substantially complete. If substantially all of the construction activities of a project are suspended, capitalization of interest will cease until such activities are resumed.

Concentration of credit risk: The Company’s operations are centralized primarily in the State of Illinois. Should there be favorable or unfavorable changes to the Illinois Gaming Act there may be an impact on the Company’s results of operations. The Company has high concentrations of locations within certain municipalities in Illinois which could impact the Company if these municipalities change their gaming laws.

Fair value of financial instruments: The Company’s financial instruments consist principally of cash, convertibles notes, accounts payable, route and customer acquisition costs payable, contingent consideration, contingent earnout shares liability, and bank indebtedness.

The carrying amount of cash, accounts payable and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company estimates the fair value of its investment in convertible notes on a recurring basis based on Level 3 inputs. The Company estimates the fair value of its debt using level two and level three inputs by discounting the future cash flows using current interest rates at which it could obtain similar borrowings in consideration of the estimated enterprise value of the Company.

Contingent consideration, which is recorded within consideration payable on the accompanying consolidated balance sheets, is measured at fair value on a recurring basis based on Level 3 inputs.

The Company's Contingent earnout shares liability and warrant liability is measured at fair value on a recurring basis based on Level 2 inputs.

For further discussion on how the Company determines the fair value of its investment in convertible notes, contingent consideration, contingent earnout shares and warrants, see Note 13.

Revenue recognition: The Company generates revenues from the following types of services: gaming terminals, amusements and ATMs. Revenue is disaggregated by type of revenue and is presented on the face of the consolidated statements of operations and comprehensive income (loss).

Net gaming revenue is the net cash from gaming activities, which is the difference between gaming wins and losses. Net gaming revenue includes the amounts earned by the licensed gaming locations and is recognized at the time of gaming play. Additionally, taxes and administrative expenses due to the states in which the Company operates are recorded as net gaming revenue and cost of revenue.

Amusement revenue represents amounts collected from machines (e.g. dart boards, digital jukeboxes, pool tables, etc.) operated at various locations and is recognized at the time the machine is used.

ATM fees and other revenue represents fees charged for the withdrawal of funds from the Company’s redemption terminals and stand-alone ATM machines and is recognized at the time of the transaction.

The Company determined that in a gaming environment, whenever a customer’s money has been accepted by a machine, the Company has an obligation (an implied contract) to provide the customer access to the game and honor the outcome of the game (in the case of video gaming terminals). The Company determined that the implied contract is entered into between the Company and customers satisfies the requirements of a contract under the new revenue standard, as (i) the contract is a legally enforceable contract with the customer, (ii) the arrangement identifies the rights of the parties, (iii) the contract has commercial substance, and (iv) the cash is received upfront from the customer, so its collectability is probable. The gaming service is a single performance obligation in each implied contract with the customer. The Company applies the portfolio approach of all wins and losses by gaming terminals daily to determine the total transaction price of the portfolio of implied contracts. The Company recognizes revenue when the single performance obligation is satisfied, which is at the completion of each game.

Route and customer acquisition costs: The Company’s route and customer acquisition costs consist of fees paid at the inception of contracts entered into with third parties and licensed video gaming establishments throughout the State of Illinois which allow the Company to install and operate video gaming terminals. The route and customer acquisition costs and route and customer acquisition costs payable are recorded at the net present value of the future payments using a discount rate equal to the Company’s incremental borrowing rate associated with its long-term debt. Route and customer acquisition costs are amortized on a straight-line basis over 18 years beginning on the date the location goes live and amortized over the life of the contract, which includes expected renewals. The Company records the accretion of interest on route and customer acquisitions costs payable in the consolidated statements of operations and comprehensive income (loss) as a component of interest expense. For locations that close prior to the end of the contractual term, the Company writes-off the net book value of the route and customer acquisition cost and route and customer acquisition cost payable and records a gain or loss in the consolidated statements of operations and comprehensive income (loss) as a component of other expenses, net. The Company’s route and customer acquisition costs also consists of prepaid commission costs to the Company's internal sales force of employees. The commissions paid to internal sales employees are subsequently expensed once the respective licensed video gaming location goes live and the commission is earned by the employee.

Business acquisitions: The Company evaluates the inputs, processes and outputs of each business acquisition to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations and comprehensive (loss) income. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and amortized over the useful life of the acquired assets. The Company accounts for acquisitions using the acquisition method and records the cost of the businesses acquired among tangible and recognized intangible assets and liabilities based upon their estimated fair values as of the acquisition date. Recognized intangibles primarily include the value of location contracts. The Company estimates the fair value of the business acquired using a combination of the cost and income approaches, depending on the specific assets or liabilities acquired. The Company estimates the value of property and equipment and other current assets and liabilities acquired based on their cost, which approximates fair value at acquisition.

Location contracts acquired: Location contracts acquired are accounted for as intangible assets and consist of expected cash flows to be generated from location contracts acquired through business and asset acquisitions. Location contracts acquired are amortized on a straight-line basis over the expected useful life of 15 years. Location contracts are tested for impairment when triggering events occur. If a triggering event were to occur, the Company compares the carrying amount of the location contracts to future undiscounted cash flows. If the value of future undiscounted cash flows is less than the carrying amount of an asset group, an impairment loss is recorded based on the excess of the carrying amount over the fair value of the asset group.

Goodwill: Goodwill represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets acquired when accounted for using the purchase method of accounting. Goodwill is reviewed for impairment annually, as of October 1st, and whenever events or changes in circumstances indicate that the carrying value of the goodwill may not be recoverable. When performing the annual goodwill impairment test, the Company conducts a qualitative assessment to determine whether it is more likely than not that the goodwill is impaired. Under the qualitative assessment, the Company considers both positive and negative factors, including macroeconomic conditions, industry events, financial performance, and makes a determination of whether it is more likely than not that the fair value of the goodwill is less than its carrying amount. If, after assessing the qualitative factors, the Company determines it is more likely than not the goodwill is impaired, it then performs a quantitative test. When performing the quantitative test, the Company compares the fair value of the reporting unit to its carrying value. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, the Company would record an impairment loss equal to the difference.

Consideration payable: Consideration payable consists of amounts payable related to certain business acquisitions as well as contingent consideration for future location performance related to certain business acquisitions (see Note 10). Consideration payable, exclusive of contingent consideration, is discounted using the Company’s incremental borrowing rate associated with its long-term debt. The contingent consideration is measured at fair value on a recurring basis. The changes in the fair value of contingent consideration are recognized within the Company’s consolidated statements of operations and comprehensive income (loss) as other expenses, net.

Impairment of long-lived assets: Long-lived assets, which includes property and equipment, net and other assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. Impairment of the assets is measured by a comparison of the carrying amount of the asset to future undiscounted cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount of which the carrying amount of the asset exceeds the fair value of the asset. There were no indicators of impairment of long-lived assets in 2021, 2020, or 2019.

Contingent stock consideration: Contingent stock, which is provided as consideration in business acquisitions, is valued based on the fair value of stock issued. The contingent stock consideration is discounted using the Company’s weighted average cost of capital and the accretion of interest is recorded in the consolidated statements of operations and comprehensive income (loss) as a component of interest expense.

Contingent earnout shares liability: The Company's Class A-2 common stock is classified as a contingent earnout shares liability due to the fact that the conversion of the Company's Class A-2 common stock would be accelerated on a change of control regardless of the transaction value. The liability is stated at fair value and any change in the fair value is recognized as a gain or loss in the Company’s consolidated statements of operations and comprehensive income (loss).

Warrant liability: The Company's Warrants are classified as a liability due to the fact that certain provisions preclude the Warrants from being accounted for as components of stockholders’ equity, including certain settlement provisions that differ based on the holder of the Warrants. The Warrants are measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement. The changes in fair value are recognized in the consolidated statement of operations and comprehensive income (loss) in the period of change.

Stock-based compensation: The Company grants common stock options and/or restricted stock units to certain employees and officers. Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as general and administrative expense over the employee’s requisite service period. All stock-based awards are classified as equity awards.

Income taxes: The Company is organized as a C-corporation and files tax returns at the federal and state level. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the book basis of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all of the deferred tax asset, will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in the tax laws and rates as of the date of enactment.

The consolidated financial statements reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities’ full knowledge of the position and all relevant facts. When and if applicable, potential interest and penalty costs are accrued as incurred with expenses recognized in general and administrative expenses in the consolidated statements of operations and comprehensive income (loss).

Earnings (loss) per share: The Company computes basic earnings (loss) per share by dividing net income (loss) by the weighted average number of shares outstanding for the applicable period. Diluted earnings (loss) per share are computed in the same manner as basic earnings (loss) per share, except that the number of shares is increased to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future service that the Company has not yet recognized are assumed to be used to repurchase shares.

Debt issuance costs: Debt issuance costs are capitalized and amortized over the contractual terms of the related loans. Debt issuance costs are presented as an offset to the related loans on the consolidated balance sheets.

Reverse recapitalization expenses. Legal fees and other costs that were determined to be direct and incremental to the reverse recapitalization were recorded to equity as additional paid-in capital. Other fees associated with the reverse recapitalization that were not direct and incremental were recorded to other expenses, net on the consolidated statements of operations and comprehensive income (loss).

Advertising costs: Advertising costs are primarily comprised of marketing expenses, which are recorded within general and administrative expense within the accompanying consolidated statements of operations and comprehensive income (loss). Advertising costs were $4.8 million, $3.2 million, and $3.0 million for the years ended December 31, 2021, 2020, and 2019, respectively.

Recent accounting pronouncements: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance in this ASU supersedes the leasing guidance in Topic 840, Leases. In July 2018, the FASB also issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which provides an optional transition method allowing the standard to be applied at the adoption date. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Based on its status as an EGC, the Company expects the new standard will be effective for the Company's fiscal year beginning after December 15, 2021. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is assessing the impact of the standard on its condensed consolidated financial statements, as well as evaluating the impact on arrangements within potential future acquisitions.

Other recently issued accounting standards or pronouncements have been excluded because they are either not relevant to the Company, or are not expected to have, or did not have, a material effect on its consolidated financial statements.

Reverse Recapitalization

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Reverse Recapitalization

As discussed in Note 1, on November 20, 2019, Accel Entertainment, Inc., consummated a business combination pursuant to the Transaction Agreement, which has been accounted for as a reverse recapitalization. Pursuant to the Transaction Agreement, TPG Holdings Corp. acquired, directly or indirectly, all of the issued and outstanding shares of common stock and preferred stock of Accel Entertainment, Inc. In connection with reverse recapitalization, TPG Pace Holdings Corp. changed its name to Accel Entertainment, Inc.

The consideration paid to holders of Accel stock in connection with the reverse recapitalization and subject to the terms and conditions of the Transaction Agreement, consisted of a mix of consideration comprised of cash consideration equal to the number of shares of Accel stock for which such holder of Accel stock made a cash election multiplied by $177 per share (the “Purchase Price”) and share consideration comprised of a number of Class A-1 common stock equal to the number of shares of Accel Stock for which such holder of Accel Stock did not make a cash election multiplied by an exchange ratio calculated by dividing the Purchase Price by $10.30, which was the closing price of the common stock of TPG Pace Holdings Corp. on November 20, 2019. In addition, each holder of Accel stock that made a cash election with respect to less than 70% of its shares of Accel stock received its pro rata share, with such pro rata share determined with reference to a number of shares equal to 70% of such holder’s shares of Accel Stock less the number of shares of Accel stock with respect to which such holder made a cash election, of 2,444,444 Private Placement Warrants (as defined in Note 12), subject to the conditions set forth in a warrant agreement and 3,000,000 Class A-2 common stock, subject to the conditions set forth in a restricted stock agreement.

In connection with the reverse recapitalization, TPG Pace Holdings and its affiliates converted 7,500,000 of Class A-1 common stock, 4,888,889 Private Placement Warrants subject to the conditions set forth in the New Pace Warrant Agreement and 2,000,000 Class A-2 common stock, subject to the conditions set forth in a restricted stock agreement.

As part of an Investment Private Placement, certain accredited investors (as defined by Rule 501 of Regulation D) agreed to subscribe for and purchase and TPG Pace Holdings Corp. agreed to issue and sell to such investors 4,696,675 Class A-1 Shares for a purchase price of $10.22 per share, or an aggregate of approximately $48 million. The proceeds from the Investment Private Placement was used to fund a portion of the cash consideration required in the reverse recapitalization.

In connection with the reverse recapitalization, Accel repurchased approximately 36,157 shares of its stock from certain employees, directors and officers at a repurchase price of $177 per share in order to facilitate (i) the repayment of existing loans to Accel’s executive officers, (ii) the exercise of vested options and (iii) funding any resulting tax obligations from the exercise of such vested options.

In accounting for the reverse recapitalization, the net equity deficit from the reverse recapitalization was $68.4 million as shown in the table below (in thousands):


	Amount
TPG Holdings Corp cash balance, November 19, 2019	$	429,952
Less redemption of Accel shares prior to reverse recapitalization	(413,733)
Cash balance prior to backstop equity financing	16,219
Plus funds from Investment Private Placement	48,038
Cash balance prior to consummation of the reverse recapitalization	64,257
Less adjustments to equity infusion:
Payment for sponsor loan	(4,000)
Less impact from issuance of contingent earnout shares	(51,641)
Less impact from issuance of warrants	(45,993)
Transaction costs related to the reverse recapitalization, net of tax	(31,006)
Net equity deficit prior to stock issuance	(68,383)
Impact of stock issued in reverse recapitalization	10
Net equity deficit from reverse recapitalization	(68,373)
Less impact from conversion of treasury stock and issuance of warrants	(7,414)
Net impact to additional paid-in-capital from reverse recapitalization	$	(75,787)

Capitalization Adjustments

The table below summarizes the number of shares of Accel issued upon consummation of the reverse recapitalization consisting of (i) the number of shares of Accel stock outstanding immediately before the reverse recapitalization along with the impact of the exchange ratio.


Accel Capital Stock - pre reverse recapitalization						Number of Shares
Class A Common Stock						472,773
Class B Common Stock						662,228
Class C Preferred Stock						1,530,779
Class D Preferred Stock						944,925

Total Shares of Accel Stock on November 20, 2019						3,610,705
Exchange ratio						17.188531
Effect of exchange ratio to convert Accel stock to A-1 Common Stock						62,062,715
Shares issued in reverse recapitalization						14,574,755
Total A-1 Common Stock						76,637,470

Immediately after the reverse recapitalization, there were 76,637,470 Class A-1 common stock, 4,999,999 Class A-2 common stock, and 22,333,308 Warrants to purchase Class A-1 Common Stock issued and outstanding. Upon the closing, the Company's Class A-1 Common Stock and public warrants began trading on the New York Stock Exchange.

Business and Asset Acquisitions

2021 Pending Acquisitions

On March 2, 2021, the Company announced that it had entered into a securities purchase agreement, to acquire Century Gaming, Inc. (“Century”). Century is Montana’s largest gaming operator and a leader in the Nevada gaming market with over 900 licensed establishments and more than 8,500 gaming terminals across both states. Pursuant to the purchase agreement, the Company will acquire all of the outstanding equity interests of Century in a cash and stock transaction valued at $140 million. The transaction was approved by the board of directors of each of the Company and Century, and is expected to close in the first half of 2022, subject to the satisfaction of customary closing conditions, including regulatory approvals from applicable gaming authorities. The transaction is expected to be funded through a combination of the Company’s cash on hand and capacity under its existing credit facility, in addition to the issuance of approximately 450,000 shares of common stock.

2021 Completed Business Acquisitions

On May 20, 2021, the Company acquired Island Games, Inc. (“Island”), a southern Georgia amusement operator and Master Licensee in the state of Georgia. The acquisition of Island adds 30 Georgia Coin Operated Amusement Machine (“COAM”) Class B locations to the Accel portfolio, including a total of 89 Class B COAM terminals. The total purchase price was approximately $2.9 million, of which the Company paid $2.8 million in cash at closing. The remaining $0.1 million of contingent consideration is to be paid in cash if certain operating metrics are achieved. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805. The purchase price was allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their estimated fair values. The results of operations for Island is not material to the consolidated financial statements of the Company for the year ended December 31, 2021.

On December 30, 2021, the Company entered into an agreement to acquire all of Rich and Junnie's operating assets in Iowa and Illinois. Rich and Junnie's operations in Iowa and Illinois consists of the ownership and operation of amusement devices and ATMs in certain establishments. Total consideration was $4.2 million of which $3.6 million which was paid in cash at closing and $0.6 million was recorded in short-term consideration payable on the consolidated balance sheets. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805. The purchase price was allocated to the following assets: i) video game terminals and equipment totaling $0.3 million; ii) amusement and other equipment totaling $1.3 million; iii) location contracts totaling $1.6 million; iv) cash totaling $0.6 million; and v) goodwill of $0.4 million. The results of operations for Rich and Junnie's are not material to the consolidated financial statements of the Company as the acquisition date (December 30, 2021) was one day prior to year end.

2020 Business Acquisitions

Tom's Amusements

On July 22, 2020 (the “Tom's Closing Date”), the Company acquired Tom’s Amusement Company, Inc., (“Tom's Amusements”) a southeastern U.S. gaming and amusement operator and Master Licensee in the state of Georgia. The total purchase price was $3.6 million, of which the Company paid $2.1 million in cash at closing. The remaining $1.5 million of contingent consideration payables are to be paid in cash on the 18-month and 24-month anniversaries of the Tom's Closing Date. The amount of each payment is $750,000 multiplied by a performance ratio. The fair value of the contingent consideration was $1.4 million as of December 31, 2021 and is included within consideration payable on the consolidated balance sheets. In addition, the Georgia Lottery Corporation approved Accel's operating subsidiary, Bulldog Gaming, LLC, as a Master Licensee, which allows the Company to install and operate coin operated amusement machines for commercial use by the public for play throughout the State of Georgia.

The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805. The purchase price of $3.6 million has been allocated to the following assets: i) video game terminals and equipment

totaling $1.6 million; ii) location contracts totaling $0.8 million; iii) indefinite-lived gaming license intangible asset of $1.0 million and; iv) cash of $0.2 million.

The results of operations for Tom's Amusements are included in the consolidated financial statements of the Company from the date of acquisition. Tom's Amusements generated revenues of $1.4 million and a net loss of $0.8 million from the acquisition date through December 31, 2020.

American Video Gaming

On December 30, 2020, the Company acquired AVG, a terminal operator licensed by the Illinois Gaming Board. AVG had 267 VGTs in 49 licensed establishments. The Company completed this transaction in order to expand its presence within the State of Illinois.

The acquisition aggregate purchase consideration transferred totaled $32.0 million, which included i.) cash paid at closing of $30.5 million and ii.) contingent purchase consideration with an estimated fair value of $1.5 million. The contingent consideration represents potentially two installment payments i.) $0.9 million if the acquired locations meet certain base performance criteria and ii.) an additional $1.4 million if the acquired locations meet additional performance criteria. The estimated fair value of the contingent consideration was determined based on the Company’s expected probability of future payment, discounted using AVG’s weighted average cost of capital. The Company paid $2.3 million of the contingent consideration during the year ended December 31, 2021. The fair value of the remaining contingent consideration payments is included within consideration payable on the consolidated balance sheets.

The following table summarizes the fair value of consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	30,522
Fair value of contingent consideration	1,506
Total consideration	$	32,028
Cash	$	504
Location contracts acquired	17,500
Property and equipment:
Video game terminals and equipment	2,479
Amusement and other equipment	207
Vehicles	43
Other assets, net	63
Goodwill	11,243
Total assets acquired	32,039
Accrued expenses assumed	(11)
Net assets acquired	$	32,028

The results of operations for AVG were not material to the consolidated financial statements of the Company for the year ended December 31, 2020 as the acquisition date (December 30, 2020) was one day prior to year end and gaming was suspended in Illinois for that one day.

2020 Asset Acquisition

On August 6, 2020, pursuant to the terms of an asset purchase agreement, the Company purchased from Illinois Operators, Inc. terminal use agreements and equipment representing the operations of 13 licensed establishments. The Company has accounted for this transaction as an asset acquisition. The purchase consideration of $4.0 million consisted of: i) cash payment of $3.7 million paid at closing and; ii) deferred payment of $0.3 million which was paid 90-days from the closing date. The asset acquisition costs were allocated to the following assets: i) video game terminals and equipment totaling $0.6 million and; ii) location contracts totaling $3.4 million.

2019 Business Acquisitions

Grand River Jackpot

On August 26, 2019, the Company entered into an agreement to acquire all issued and outstanding membership interests in Grand River Jackpot, a terminal operator licensed by the State of Illinois Gaming Board. On September 16, 2019, the Company completed its acquisition of Grand River Jackpot. Grand River Jackpot had 2,009 VGTs in over 450 licensed establishments. The Company completed this transaction in order to expand its presence within the State of Illinois.

The acquisition aggregate purchase consideration transferred totaled $113.7 million, which included: i) a cash payment made at closing of $100.0 million; ii) a subsequent cash payment of approximately $6.6 million for a working capital adjustment and; iii) contingent purchase consideration with an estimated fair value of $7.1 million. The contingent consideration represents two installment payments that are to be paid, up to a maximum amount, as follows: i) $2.5 million within 30 days following the one-year anniversary of the acquisition closing date and; ii) $7.0 million within 30 days following the three-year anniversary of the acquisition closing date. These payments are subject to adjustment based on certain performance measures included within the purchase agreement. The estimated fair value was determined based on the Company’s expected probability of future payment, discounted using Grand River Jackpot’s weighted average cost of capital. The cash payment made at closing and subsequent working capital adjustment payment were both funded with the Company’s existing credit facilities. In connection with the temporary suspension of gaming by the IGB due to the COVID-19 pandemic in 2020, the Company reversed its contingent liability for the previously mentioned $2.5 million installment payment due 30 days following the one-year anniversary of the acquisition closing date as the performance measures for the period were not reached.

The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805. The purchase price has been allocated to the tangible assets and identifiable intangible assets acquired and liabilities assumed based upon their estimated fair values. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill. The Grand River Jackpot acquisition resulted in recorded goodwill as a result of a higher consideration multiple paid relative to prior similar acquisitions driven by maturity and quality of the operations and industry, including workforce and corresponding synergies, and is amortizable for income tax purposes. Management integrated the Grand River Jackpot acquisition into its existing business structure, which is comprised of a single reporting unit.

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	106,578
Contingent consideration	7,136
Total consideration	$	113,714
Cash	$	8,861
Location contracts acquired	53,200
Property and equipment:
Video game terminals and equipment	18,000
Land	28
Buildings	548
Vehicles	600
Goodwill	34,511
Total assets acquired	115,748
Accounts payable assumed	(532)
Accrued expenses assumed	(1,502)
Net assets acquired	$	113,714

The Company incurred $0.2 million in acquisition related costs that are included in other operating expenses within the consolidated statements of operations and comprehensive income (loss) for the year ended December 31, 2019.

The results of operations for Grand River Jackpot are included in the consolidated financial statements of the Company from the date of acquisition. Grand River Jackpot's acquired assets generated revenues and net income of $16.6 million and $1.2 million for the year ended December 31, 2019.

2019 Asset Acquisition

On September 23, 2019, pursuant to the terms of an asset purchase agreement, the Company purchased from Illinois Gaming Systems, LLC (“IGS”) terminal use agreements and equipment representing the operations of 139 video game terminals in 29 licensed establishments. The Company has accounted for this transaction as an asset acquisition. The purchase consideration consisted of: i) cash payment of $2.4 million paid at closing and; ii) note payable of $2.3 million issued at closing. The asset acquisition costs were allocated to the following assets: i) video game terminals and equipment totaling $1.7 million and; ii) location contracts totaling $3.0 million. The note payable bore interest at 5% and was paid in full on March 23, 2020.

Pro Forma Results

The following unaudited pro forma consolidated financial information reflects the results of operations of the Company for the years ended December 31, 2021, 2020 and 2019 as if the acquisitions of Rich and Junnie's, Island, AVG, Tom's Amusements, and Grand River Jackpot, had occurred as of the beginning of the fiscal year prior to the fiscal year of acquisition, after giving effect to certain purchase accounting adjustments. These amounts are based on available financial information of the acquirees prior to the acquisition dates and are not necessarily indicative of what the Company’s operating results would have been had the acquisitions actually taken place at the beginning of the fiscal year prior to the fiscal year of acquisition. This unaudited pro forma information for the years ended December 31, does not project revenues and income before income tax expense post acquisition (in thousands).


	2021		2020		2019
Revenues	$	738,295	$	327,090	$	466,466
Net income	31,812		(626)		(33,498)

Consideration Payable

The Company has a contingent consideration payable related to certain locations, as defined, in the respective acquisition agreement which are placed into operation during a specified period after the acquisition date. The fair value of contingent consideration is included in the consideration payable on the consolidated balance sheets as of December 31, 2021 and 2020. The contingent consideration accrued is measured at fair value on a recurring basis.

Current and long-term portions of consideration payable consist of the following at December 31 (in thousands):


	2021				2020
	Current		Long-Term		Current		Long-Term
TAV*	$	490	$	2,858	$	490	$	3,206

Fair Share Gaming*	1,875		508		1,096		523
Family Amusement*	677		1,944		391		2,609
Skyhigh*	801		7,396		601		5,789
G3*	414		—		355		100
Grand River Jackpot	6,479		—		—		5,755
IGS	—		—		80		—
Island	100		—		—		—
Tom's Amusements	1,491		—		—		1,455
Rich and Junnie's	646		—		—		—
AVG	371		—		—		1,506
Total	$	13,344	$	12,706	$	3,013	$	20,943

•Acquisitions that occurred prior to 2019.

Investment in Convertible Notes	12 Months Ended
Investment in Convertible Notes	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment in Convertibles Notes	Investment in Convertible Notes On July 19, 2019, the Company entered into an agreement to purchase up to $30.0 million in convertible notes bearing interest at 3% per annum from Gold Rush Amusements, Inc. (“Gold Rush”), another terminal operator in Illinois. The convertible notes each included an option to convert the notes to common stock of Gold Rush prior to the maturity date upon written notice from the Company. At closing, the Company purchased a $5.0 million note which was subordinated to Gold Rush’s credit facility and matured six months following the satisfaction of administrative conditions. On October 11, 2019, the Company purchased an additional $25.0 million note which was also subordinated to Gold Rush’s credit facility and, beginning on July 1, 2020, the balance of this note, if not previously converted, was payable in equal $1,000,000 monthly installments until all principal has been repaid in full. On July 30, 2020, the Company and Gold Rush entered into the Omnibus Amendment (the “Amendment”) to the original agreement to purchase convertible notes from Gold Rush. The Amendment, among other things, extended the maturity date of the $5.0 million convertible note and the beginning of the payback period for the $25.0 million convertible note until December 31, 2020. On March 9, 2021, the Company and Gold Rush entered into the Second Omnibus Amendment (the “Second Amendment”) to both of the convertible notes and the agreement to purchase the convertible notes. The Second Amendment, among other things, extended the December 31, 2020 maturity and conversion feature of the $5.0 million convertible note to December 31, 2021, the maturity and conversion feature of the $25.0 million convertible note to June 1, 2024 and the beginning of the payback period for the $25.0 million convertible note from December 31, 2020 to January 1, 2022. On July 30, 2021, the Company provided notice to Gold Rush that it was exercising its rights under each of the convertible notes to convert the entire aggregate principal amount and accrued interest into common stock of Gold Rush, subject to approval from the IGB to transfer the common stock to the Company and receipt of other customary closing deliverables. On December 2, 2021, the Company received notice from the administrator of the IGB that he was denying the requested transfer of Gold Rush common stock to the Company. The Company disagreed with the administrator’s ruling and requested that the matter be put before the IGB for a public vote. On January 27, 2022, the IGB affirmed the administrator’s denial. Although the Company is pursuing all administrative remedies available to contest the IGB’s ruling, this denial has impacted the conversion assumptions previously used in the accounting valuation of the convertible notes. Based on the IGB denying the Company’s request to transfer Gold Rush common stock despite the Company’s unilateral conversions rights, the convertible notes continue to be accounted for as available for sale debt securities, at fair value, with gains and losses recorded in other comprehensive income (loss). The carrying amount of the investment in the convertible notes of $32.1 million approximates the accounting fair value, in all material respects, as of December 31, 2021. The Company is evaluating its legal remedies with respect to its rights to receive the Gold Rush common stock or equivalent amounts it is entitled to receive with respect to the convertible notes, the value of which could be materially in excess of the current accounting fair value. The Company recognized an unrealized loss of $0.1 million and a $0.1 million gain, net of taxes, within comprehensive income (loss) for the years ended December 31, 2021 and 2020, respectively. For more information on how the Company determined the fair value of the convertible notes, see Note 13.

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following at December 31 (in thousands):


	2021		2020
Gaming terminals and equipment	$	225,692	$	197,533
Amusement and other equipment	18,547		23,049
Office equipment and furniture	1,731		1,526
Computer equipment and software	14,319		12,793
Leasehold improvements	4,127		1,707
Vehicles	11,518		9,430
Buildings and improvements	10,997		10,845
Land	911		911
Construction in progress	3,898		1,886
Total property and equipment	291,740		259,680
Less accumulated depreciation and amortization	(139,489)		(116,115)
Property and equipment, net	$	152,251	$	143,565

Depreciation and amortization of property and equipment amounted to $24.6 million, $21.0 million and $26.4 million during the years ended December 31, 2021, 2020 and 2019, respectively. Depreciation expense in 2021 reflects a change in estimate as the Company extended the useful lives of its gaming terminals and equipment from 10 years to 13 years in the fourth quarter of 2021.

Route and Customer Acquisition Costs

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Route and Customer Acquisition Costs

The Company enters into contracts with third parties and licensed video gaming locations throughout the State of Illinois which allow the Company to install and operate video gaming terminals. When video gaming operations commence, payments are primarily due monthly. Gross payments due, based on the number of live locations, are approximately $6.8 million and $6.4 million as of December 31, 2021 and 2020, respectively. Payments are due over varying terms of the individual agreements and are discounted at the Company’s incremental borrowing rate associated with its long-term debt at the time the contract is acquired. The net present value of payments due is $6.0 million and $5.7 million as of December 31, 2021 and 2020, respectively, of which approximately $2.1 million and $1.6 million is included in current liabilities in the accompanying consolidated balance sheets as of December 31, 2021 and 2020, respectively. The route and customer acquisition cost asset is comprised of upfront payments made on the contracts of $18.0 million and $17.7 million as of December 31, 2021 and 2020, respectively. The Company has upfront payments of commissions paid to the third parties for the acquisition of the customer contracts that are subject to a claw back provision if the customer cancels the contract prior to completion. The payments subject to a claw back are $1.5 million and $1.7 million as of December 31, 2021 and 2020, respectively.

Route and customer acquisition costs consist of the following at December 31 (in thousands):


	2021		2020
Cost	$	28,902	$	27,364
Accumulated amortization	(12,989)		(12,113)
Route and customer acquisition costs, net	$	15,913	$	15,251

Amortization expense of route and customer acquisition costs was $1.7 million, $1.8 million and $1.7 million for the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense of route and customer acquisition costs is slightly lower in 2021 when compared to the prior year as the Company extended the amortization period of its route and customer acquisition costs from 12.4 years to 18 years in the fourth quarter of 2021.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Location Contracts Acquired

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Location Contracts Acquired

Location contract assets acquired in business acquisitions are recorded at acquisition at fair value based on an income approach. Location contracts acquired consist of the following at December 31 (in thousands):


	2021		2020
Cost	$	229,287	$	226,012
Accumulated amortization	(78,615)		(58,278)
Location contracts acquired, net	$	150,672	$	167,734

Each asset is amortized over the expected useful life of 15 years. Estimated amortization expense related to location contracts acquired for the next five years and thereafter is as follows:


Year ending December 31:
2022	$	13,151
2023	13,151
2024	13,151
2025	13,151
2026	13,006
Thereafter	85,062
Total	$	150,672

Amortization expense of location contracts acquired was $20.3 million, $20.8 million and $16.2 million, during the years ended December 31, 2021, 2020 and 2019, respectively. Amortization expense of location contracts is slightly lower in 2021 when compared to the prior year as the Company extended the amortization period of its location contracts from 10 years to 15 years in the fourth quarter of 2021.

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company had goodwill of $46.2 million as of December 31, 2021, of which $37.2 million is deductible for tax purposes.

On December 30, 2020, the Company acquired American Video Gaming, LLC, and Erickson Amusements, Inc. (collectively referred to as "AVG") which was accounted for as a business combination using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations ("Topic 805"). The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill of $11.2 million. See Note 10 for more information on how the amount of goodwill was calculated.

On December 30, 2021, the Company entered into an agreement with Rich and Junnie's Coin, Inc., an Iowa corporation, and JBCJ, Inc., also an Iowa corporation (collectively referred to as "Rich and Junnie's") to acquire all of Rich and Junnie's operating assets in Iowa and Illinois. The acquisition was accounted for as a business combination using the acquisition method of accounting in accordance with Topic 805. The excess of the purchase price over the tangible and intangible assets acquired and liabilities assumed has been recorded as goodwill of $0.4 million. See Note 10 for more information on how the amount of goodwill was calculated.

The Company conducted its annual goodwill impairment test on October 1, 2021. The Company conducted a qualitative assessment, or step zero analysis, to determine whether it is more likely than not that the goodwill was impaired. Under the qualitative assessment, the Company considered both positive and negative factors, including macroeconomic conditions, industry events, financial performance, to make a determination of whether it is more likely than not that the fair value of the goodwill is less than its carrying amount. In performing this assessment, the Company considered such factors as its historical performance, its growth opportunities in existing markets; new markets and new products in determining whether the goodwill was impaired.

The Company also referenced its forecasts of revenue, operating income, and capital expenditures and concluded it is more likely than not, that the carrying value of its goodwill was not impaired as of October 1, 2021.

The following is a roll forward of the Company's goodwill (in thousands):




Goodwill balance as of January 1, 2020	$	34,511
Addition to goodwill for acquisition of AVG	11,243
Goodwill balance as of December 31, 2020	$	45,754
Addition to goodwill for acquisition of Rich and Junnie's	445
Goodwill balance as of December 31, 2021	$	46,199

Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

The Company’s debt as of December 31, consisted of the following (in thousands):


	2021		2020
Senior Secured Credit Facility (as amended):
Revolving credit facility	$	—	$	—
Term Loan	350,000		228,000
Delayed Draw Term Loan (DDTL)	—		119,562
Total debt	350,000		347,562
Less: Debt issuance costs	(8,478)		(7,421)
Total debt, net of debt issuance costs	341,522		340,141
Less: Current maturities	(17,500)		(18,250)
Total debt, net of current maturities	$	324,022	$	321,891

Senior Secured Credit Facility

On November 13, 2019, in order to refinance its prior credit facility, for working capital and other general purposes from time to time, the Company entered into a credit agreement (the “Credit Agreement”) as borrower, the Company and its wholly-owned domestic subsidiaries, as a guarantor, the banks, financial institutions and other lending institutions from time to time party thereto, as lenders, the other parties from time to time party thereto and Capital One, National Association, as administrative agent (in such capacity, the “Agent”), collateral agent, issuing bank and swingline lender providing for a:

•$100.0 million revolving credit facility, including a letter of credit facility with a $10.0 million sublimit and a swing line facility with a $10.0 million sublimit,

•$240.0 million initial term loan facility and

•$125.0 million additional term loan facility.

The additional term loan facility was available for borrowings until November 13, 2020. Each of the revolving loans and the term loans were scheduled to mature on November 13, 2024. The Company incurred $8.8 million of debt issuance costs related to the Senior Secured Credit Facility, which are being amortized over the life of the Facility.

Given the uncertainty of COVID-19 and its variants and the resulting potential impact to the gaming industry, as well as to provide additional financial flexibility, the Company and the other parties thereto amended the Credit Agreement on August 4, 2020 ("Amendment No. 1") to provide 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). Amendment No. 1 also raised the floor for the adjusted LIBOR rate to 0.50% and the floor for the Base Rate to

1.50%. The Company incurred costs of $0.4 million associated with Amendment No.1 of the Credit Agreement, of which $0.3 million was capitalized and is being amortized over the remaining life of the Credit Agreement. The waivers of financial covenant breach were never utilized as the Company remained in compliance with all debt covenants during these periods.

On October 22, 2021, in order to increase the borrowing capacity under the Credit Agreement, the Company and the other parties thereto entered into Amendment No. 2 to the Credit Agreement (“Amendment No. 2”). Amendment No. 2, among other things, provides for

•an increase in the amount of the revolving credit facility from $100.0 million to $150.0 million,

•$350.0 million initial term loan facility, the proceeds of which were applied to refinancing existing indebtedness and

•$400.0 million delayed draw term loan facility.

The maturity date of the Credit Agreement was extended to October 22, 2026. The interest rate and covenants remain unchanged. The Company incurred $4.3 million in debt issuance costs associated with Amendment No. 2. The debt issuance costs are presented as a non-cash item on the consolidated statements of cash flows (less the portion impacting net income which are presented within operating activities) as they were financed with borrowings under the term loan. The Company also recognized a loss on debt extinguishment of $1.2 million for the year ended December 31, 2021 due to a partial extinguishment associated with certain lenders whose borrowing capacity decreased with the amendment.

As of December 31, 2021, there remained approximately $550.0 million of availability under the Credit Agreement.

The obligations under the Credit Agreement are guaranteed by the Company and its wholly-owned domestic subsidiaries (collectively, the “Guarantors”), subject to certain exceptions. The obligations under the Credit Agreement are secured by substantially all of the assets of the Guarantors, subject to certain exceptions. Certain future-formed or acquired wholly-owned domestic subsidiaries of the Company will also be required to guarantee the Credit Agreement and grant a security interest in substantially all of their assets, subject to certain exceptions, to secure the obligations under the Credit Agreement.

Borrowings under the Credit Agreement bear interest, at the Company’s option, at a rate per annum equal to either (a) the adjusted LIBOR rate (“LIBOR”) (which cannot be less than 0.5%) for interest periods of 1, 2, 3 or 6 months (or if consented to by (i) each applicable Lender, 12 months or any period shorter than 1 month or (ii) the Agent, a shorter period necessary to ensure that the end of the relevant interest period would coincide with any required amortization payment) plus the applicable LIBOR margin or (b) the alternative base rate (“ABR”) plus the applicable ABR margin. ABR is a fluctuating rate per annum equal to the highest of (i) the Federal Funds Effective Rate plus 1/2 of 1.0%, (ii) the prime rate announced from time to time by Capital One, National Association and (iii) LIBOR for a 1-month interest period on such day plus 1.0%. The Credit Agreement also includes provisions for determining a replacement rate when LIBOR is no longer available. As of December 31, 2021, the weighted-average interest rate was approximately 3.2%.

Interest is payable quarterly in arrears for ABR loans, at the end of the applicable interest period for LIBOR loans (but not less frequently than quarterly) and upon the prepayment or maturity of the underlying loans. The Company is required to pay a commitment fee quarterly in arrears in respect of unused commitments under the revolving credit facility and the additional term loan facility.

The applicable LIBOR and ABR margins and the commitment fee rate are calculated based upon the first lien net leverage ratio of the Company and its restricted subsidiaries on a consolidated basis, as defined in the Credit Agreement. The revolving loans and term loans bear interest at either (a) ABR (150 bps floor) plus a margin of 1.75% or (b) LIBOR (50 bps floor) plus a margin of 2.75%, at the option of the Company.

The term loans and, once drawn, the additional term loans will amortize at an annual rate equal to approximately 5.00% per annum. Upon the consummation of certain non-ordinary course asset sales, the Company may be required to apply the net cash

proceeds thereof to prepay outstanding term loans and additional term loans. The loans under the Credit Agreement may be prepaid without premium or penalty, subject to customary LIBOR “breakage” costs.

The Credit Agreement contains certain customary affirmative and negative covenants and events of default and requires the Company and certain of its affiliates obligated under the Credit Agreement to make customary representations and warranties in connection with credit extensions thereunder.

In addition, the Credit Agreement requires the Company to maintain (a) a ratio of consolidated first lien net debt to consolidated EBITDA no greater than 4.50 to 1.00 and (b) a ratio of consolidated EBITDA to consolidated fixed charges no less than 1.20 to 1.00, in each case, tested as of the last day of each full fiscal quarter ending after the Closing Date and determined on the basis of the four most recently ended fiscal quarters of the Company for which financial statements have been delivered pursuant to the Credit Agreement, subject to customary “equity cure” rights.

If an event of default (as such term is defined in the Credit Agreement) occurs, the lenders would be entitled to take various actions, including the acceleration of amounts due under the Credit Agreement, termination of the lenders’ commitments thereunder, foreclosure on collateral, and all other remedial actions available to a secured creditor. The failure to pay certain amounts owing under the Credit Agreement may result in an increase in the interest rate applicable thereto.

The Company was in compliance with all debt covenants as of December 31, 2021.

Prior Credit Facility

The Company's prior credit facility was a senior secured first lien credit facility, as amended, that consisted of a $125.0 million term loan, a contract draw loan facility of $170.0 million and a revolving credit facility of $85.0 million. The Company’s prior credit facility was with a syndicated group of banks with CIBC Bank USA, as administrative agent for the lenders. Included in the revolving credit facility and contract draw loan were swing line sub-facilities of $5.0 million each. The prior credit facility was paid off with the proceeds from the Senior Secured Credit Facility. In connection with the extinguishment of the prior credit facility, the Company recorded a loss from debt extinguishment of $1.1 million for the year ended December 31, 2019.

The principal maturities of long-term debt as of December 31, 2021 are as follows (in thousands):


Year ending December 31:
2022	$	17,500
2023	17,500
2024	17,500
2025	17,500
2026	280,000
Total debt	$	350,000

The fair value of the Company’s debt at December 31, 2021 and 2020 was estimated using a discounted cash flow model, which forecasts future interest and principal payments. The forecasted cash flows were discounted back to present value using the term-matched risk-free rate plus an option adjusted spread to account for credit risk. The option adjusted spread was calculated as of the debt's issuance date and then adjusted to the valuation date. The inputs used to determine the fair value were classified as Level 2 in the fair value hierarchy as defined in Note 13.

The carrying value and estimated fair value the Company's debt at December 31, was as follows (in thousands):


	2021		2020
Carrying value	$	350,000	$	340,141
Estimated fair value	331,122		309,528

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

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+ Details

Business and Asset Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Business and Asset Acquisitions

Reverse Recapitalization

In accounting for the reverse recapitalization, the net equity deficit from the reverse recapitalization was $68.4 million as shown in the table below (in thousands):


	Amount
TPG Holdings Corp cash balance, November 19, 2019	$	429,952
Less redemption of Accel shares prior to reverse recapitalization	(413,733)
Cash balance prior to backstop equity financing	16,219
Plus funds from Investment Private Placement	48,038
Cash balance prior to consummation of the reverse recapitalization	64,257
Less adjustments to equity infusion:
Payment for sponsor loan	(4,000)
Less impact from issuance of contingent earnout shares	(51,641)
Less impact from issuance of warrants	(45,993)
Transaction costs related to the reverse recapitalization, net of tax	(31,006)
Net equity deficit prior to stock issuance	(68,383)
Impact of stock issued in reverse recapitalization	10
Net equity deficit from reverse recapitalization	(68,373)
Less impact from conversion of treasury stock and issuance of warrants	(7,414)
Net impact to additional paid-in-capital from reverse recapitalization	$	(75,787)

Capitalization Adjustments


Accel Capital Stock - pre reverse recapitalization						Number of Shares
Class A Common Stock						472,773
Class B Common Stock						662,228
Class C Preferred Stock						1,530,779
Class D Preferred Stock						944,925

Total Shares of Accel Stock on November 20, 2019						3,610,705
Exchange ratio						17.188531
Effect of exchange ratio to convert Accel stock to A-1 Common Stock						62,062,715
Shares issued in reverse recapitalization						14,574,755
Total A-1 Common Stock						76,637,470

Business and Asset Acquisitions

2021 Pending Acquisitions

2021 Completed Business Acquisitions

2020 Business Acquisitions

Tom's Amusements

totaling $1.6 million; ii) location contracts totaling $0.8 million; iii) indefinite-lived gaming license intangible asset of $1.0 million and; iv) cash of $0.2 million.

American Video Gaming

The following table summarizes the fair value of consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	30,522
Fair value of contingent consideration	1,506
Total consideration	$	32,028
Cash	$	504
Location contracts acquired	17,500
Property and equipment:
Video game terminals and equipment	2,479
Amusement and other equipment	207
Vehicles	43
Other assets, net	63
Goodwill	11,243
Total assets acquired	32,039
Accrued expenses assumed	(11)
Net assets acquired	$	32,028

2020 Asset Acquisition

2019 Business Acquisitions

Grand River Jackpot

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	106,578
Contingent consideration	7,136
Total consideration	$	113,714
Cash	$	8,861
Location contracts acquired	53,200
Property and equipment:
Video game terminals and equipment	18,000
Land	28
Buildings	548
Vehicles	600
Goodwill	34,511
Total assets acquired	115,748
Accounts payable assumed	(532)
Accrued expenses assumed	(1,502)
Net assets acquired	$	113,714

2019 Asset Acquisition

Pro Forma Results


	2021		2020		2019
Revenues	$	738,295	$	327,090	$	466,466
Net income	31,812		(626)		(33,498)

Consideration Payable

Current and long-term portions of consideration payable consist of the following at December 31 (in thousands):


	2021				2020
	Current		Long-Term		Current		Long-Term
TAV*	$	490	$	2,858	$	490	$	3,206

Fair Share Gaming*	1,875		508		1,096		523
Family Amusement*	677		1,944		391		2,609
Skyhigh*	801		7,396		601		5,789
G3*	414		—		355		100
Grand River Jackpot	6,479		—		—		5,755
IGS	—		—		80		—
Island	100		—		—		—
Tom's Amusements	1,491		—		—		1,455
Rich and Junnie's	646		—		—		—
AVG	371		—		—		1,506
Total	$	13,344	$	12,706	$	3,013	$	20,943

•Acquisitions that occurred prior to 2019.

Contingent Earnout Share Liability	12 Months Ended
Contingent Earnout Share Liability	Dec. 31, 2021
Business Combinations [Abstract]
Contingent Earnout Share Liability	Contingent Earnout Share Liability As discussed in Notes 1 and 3, on November 20, 2019, the Company, consummated a business combination pursuant to the Transaction Agreement, which has been accounted for as a reverse recapitalization. Pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, the Company authorized and has available for issuance 10,000,000 shares of Class A-2 Common Stock. The holders of the Class A-2 Common Stock do not have voting rights and are not entitled to receive or participate in any dividends or distributions when and if declared from time to time. The Company's Class A-2 common stock is classified as a contingent earnout shares liability due to the fact that the conversion of the Company's Class A-2 common stock would be accelerated on a change of control regardless of the transaction value. As discussed in Note 3, 5,000,000 shares of Class A-2 Common Stock were issued with other consideration prior to the reverse recapitalization, subject to the conditions set forth in a restricted stock agreement, which sets forth the terms upon which the Class A-2 Common Stock will be exchanged for an equal number of validly issued, fully paid and non-assessable Class A-1 Common Stock. The exchange of Class A-2 Common Stock for Class A-1 Common Stock will be subject to the terms and conditions set forth in the Restricted Stock Agreement, with such exchanges occurring in three separate tranches upon the satisfaction of the following triggers: •Tranche I, equal to 1,666,666 Class A-2 Common Stock, will be exchanged for Class A-1 Common Stock if either (i) the EBITDA for the last twelve months (“LTM EBITDA”) of the Company (as determined pursuant to the Restricted Stock Agreement) as of December 31, 2021, March 31, 2022 or June 30, 2022 equals or exceeds $132 million or (ii) the closing sale price of Class A-1 Common Stock on the New York Stock Exchange (“NYSE”) equals or exceeds $12.00 for at least twenty trading days in any consecutive thirty trading day period; •Tranche II, equal to 1,666,667 Class A-2 Common Stock, will be exchanged for Class A-1 Common Stock if either (i) the LTM EBITDA of the Company (as determined pursuant to the Restricted Stock Agreement) as of December 31, 2022, March 31, 2023 or June 30, 2023 equals or exceeds $152 million or (ii) the closing sale price of Class A-1 Common Stock on the NYSE equals or exceeds $14.00 for at least twenty trading days in any consecutive thirty trading day period; and •Tranche III, equal to 1,666,667 Class A-2 Common Stock, will be exchanged for Class A-1 Common Stock if either (i) the LTM EBITDA of the Company (as determined pursuant to the Restricted Stock Agreement) as of December 31, 2023, March 31, 2024 or June 30, 2024 equals or exceeds $172 million or (ii) the closing sale price of Class A-1 Common Stock on the NYSE equals or exceeds $16.00 for at least twenty trading days in any consecutive thirty trading day period. The LTM EBITDA thresholds will be reasonably adjusted by the independent directors of the board of the Company (the “Board”) from time to time to take into account the anticipated effect of any acquisitions or dispositions that exceed certain thresholds and are otherwise materially different from certain forecasts. Notwithstanding the foregoing, Class A-2 Common Stock, if not previously exchanged for Class A-1 Common Stock pursuant to the triggers described above, will be exchanged for an equal number of Class A-1 common stock immediately prior to the consummation of a transaction or series of related transactions that would result in a third party or group (as defined in or under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) becoming the beneficial owner of, directly or indirectly, more than fifty percent of the total voting power of the equity securities of the Company, or more than fifty percent of the consolidated net revenues, net income or total assets (including equity securities of its subsidiaries) of the Company, provided that the satisfaction of the conditions set forth in the aforementioned triggers cannot be determined at such time. The Restricted Stock Agreement further provides that holders of Class A-2 Common Stock are not required to exchange such shares for Class A-1 Common Stock if, (x) prior to giving effect to exchanges pursuant to the triggers described above, such holder beneficially owns less than 4.99% of the issued and outstanding Class A-1 Common Stock, and (y) after giving effect to the exchanges pursuant to the triggers described above, such holder would beneficially own in excess of 4.99% of the issued and outstanding Class A-1 Common Stock. However, notwithstanding the limitation described in the previous sentence, if and when a holder of Class A-2 Common Stock has obtained all required gaming approvals from the applicable gaming authorities permitting such holder to beneficially own Class A-1 Common Stock in excess of 4.99%, then the Class A-2 Common Stock held by such holder which are subject to exchange shall immediately be exchanged for Class A-1 Common Stock without regard to the limitation. On January 14, 2020, the market condition for the settlement of Tranche I was satisfied. However, as discussed above, no shareholder is permitted to own more than 4.99% of the issued and outstanding Class A-1 Common Stock after the settlement unless obtaining required gaming approvals from the applicable gaming authorities. In connection with the settlement, no gaming approvals were obtained. As a result, only 1,666,636 of the 1,666,666 Class A-2 Common Stock were converted into Class A-1 Common Stock.

Warrant Liability	12 Months Ended
Warrant Liability	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Warrant Liability	Warrant liabilityAs discussed in Note 3, 7,333,326 private placement warrants to purchase shares of Class A-1 Common Stock were issued with other consideration prior to the reverse recapitalization (the “Private Placement Warrants”). As a part of the reverse recapitalization, 2,444,437 Private Placement Warrants were canceled and reissued under the same terms and conditions to Accel legacy stockholders. Each Private Placement Warrants expires five years from issuance and entitles the holder to purchase one share of Class A-1 Common Stock at an exercise price of $11.50 per share, subject to adjustments substantially similar to those applicable to the other outstanding warrants, at any time 30 days after the consummation of the reverse recapitalization. In 2017, 15,000,000 warrants to purchase shares of Class A-1 Common Stock were issued in connection with the formation of TPG Pace Holdings (“Public Warrants”). Each Public Warrant expires five years from issuance and entitles the holder to purchase one share of Class A-1 Common Stock at an exercise price of $11.50 per share, subject to adjustments substantially similar to those applicable to the other outstanding warrants, at any time 30 days after the consummation of the reverse recapitalization. On July 14, 2020, the Company announced that it had commenced an exchange offer (the "Offer") to all holders of its outstanding Warrants to receive 0.25 shares of Class A-1 Common Stock in exchange for each Warrant tendered pursuant to the Offer. The Offer was open until 11:59 p.m., Eastern Standard Time, on August 11, 2020. On July 16, 2020, the Company consummated the redemption of its Public Warrants. The Company exchanged each Public Warrant for 0.25 shares of the Company’s Class A-1 Common Stock and issued 3,784,416 shares of its Class A-1 Common Stock in exchange for the Public Warrants at settlement of the redemption. The exchange was an equitable exchange at fair value and was accounted for as a capital transaction. On July 22, 2020, the Company received written notice from the New York Stock Exchange (the “NYSE”) that the NYSE suspended trading in, and has determined to commence proceedings to delist, the Company’s Public Warrants to purchase shares of the Company’s Class A-1 Common Stock (ticker symbol ACEL.WS) from the NYSE. The delisting is a result of the failure of the Public Warrants to comply with the continued listing standard set forth in Section 802.01D of the NYSE Listed Company Manual which requires the Company to maintain at least 100 public holders of a listed security. On August 14, 2020, 7,189,990 of the Private Placement Warrants were validly tendered representing approximately 99.93% of the total Private Placement Warrants outstanding. The Company accepted all such Private Placement Warrants and issued an aggregate of 1,797,474 shares of its Class A-1 Common Stock in exchange for the Private Placement Warrants tendered.

Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC Topic 820, Fair Value Measurements and Disclosures, establishes a framework for measuring fair value and the corresponding disclosure requirements around fair value measurements. This topic applies to all financial instruments that are being measured and reported on a fair value basis.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the various methods including market, income and cost approaches are used. Based on these approaches, certain assumptions are utilized that the market participants would use in pricing the asset or liability, including assumptions about risk and/or the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable inputs. Valuation techniques are utilized that maximize the use of observable inputs and minimize the use of unobservable inputs. Based on the observability of the inputs used in the valuation techniques, it is required to provide information according to the fair value hierarchy. The fair value hierarchy ranks the quality and reliability of the information used to determine fair values. Assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:

Level 1: Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Level 1 also includes U.S. Treasury and federal agency securities and federal agency mortgage-backed securities, which are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2: Valuations for assets and liabilities traded in less active dealer or broker markets or for similar assets or liabilities in active markets.

Level 3: Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities.

Assets measured at fair value

The following tables summarize the Company’s assets that are measured at fair value on a recurring basis (in thousands):


			Fair Value Measurement at Reporting Date Using
	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets:
Investment in convertible notes	$	32,065	$	—		$	32,065


			Fair Value Measurement at Reporting Date Using
	December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Investment in convertible notes (1)	$	31,266	$	—	$	—	$	31,266

(1) The fair value on the Company's investment in convertible notes for the year ended December 31, 2020 includes accrued interest of $1.1 million, which is presented within other current assets on the consolidated balance sheets.

Investment in convertible notes

The Company previously engaged a third-party firm to assist it in determining the fair value of its investment in convertible notes. The valuation as of December 31, 2020, utilized a binomial lattice model in which a convertible instrument is split into two separate components: a cash-only (debt) component and an equity component. The binomial lattice trees are constructed using a methodology that assigns up and downward movement factors and probabilities based on rates of return, volatility, and time. It allows for the optional conversion features of the convertible notes to be captured by determining whether conversion or continuing to hold is the most economically advantageous to the holder. Upon conversion, future values in the equity component are subject to only the risk-free rate, while the cash-only component associated with continuing to hold the debt instrument is subject to the selected risk-adjusted discount rate. Solving backwards through the trees associated with the equity component and the trees associated with the debt component yields an aggregate discounted value for each. The sum of these values yields the indicated fair value of the convertible notes. The discount rate is the risk-adjusted discount rate that is implied by the rate that allows the discounted cash flows with all terms and conditions modeled to equal the total cash consideration. As such, after modeling the features of convertible notes as of the issuance date using the lattice model framework outlined above, the Company solved for the discount rate that resulted in a value for the note equal to the total cash consideration. This valuation of the Company's investment in convertible notes is considered to be a Level 3 fair value measurement as the significant inputs are unobservable and require significant judgment or estimation.

As described in Note 4, on July 30, 2021, the Company provided notice to Gold Rush that it was exercising its rights to convert the notes into common stock of Gold Rush, subject to approval from the IGB to transfer the common stock to the Company. Accordingly, beginning in the third quarter of 2021, given the pending request for regulatory approval on the transfer of equity interest, the fair value of the convertible notes was estimated using a probability-weighted approach. Assuming

regulatory approval was received, the fair value of the convertible notes was estimated on an as-converted basis by multiplying the equity value of Gold Rush by the ownership percentage as calculated pursuant to the terms of the convertible note agreements. In the scenario where regulatory approval was not received, the fair value of the convertible notes was estimated using a discounted cash flow approach assuming the Company would request immediate redemption of the principal and accrued interest and the discount rate was estimated based on comparable public debt rates. This assumption did not consider legal claims the Company may have under the convertible notes to receive the economic value of the conversion shares, even if transfer of the actual ownership interest in Gold Rush to Accel was not approved by the IGB. After the IGB Administrator’s denial of the transfer of the equity interest on December 2, 2021, the Company concluded that the fair value of the convertible notes should be calculated as principal plus accrued interest as of December 31, 2021. For the avoidance of doubt, this value is less than what Accel maintains Gold Rush owes Accel under the convertible notes, but is consistent with ASC Topic 820. This valuation of the Company's investment in convertible notes is considered to be a Level 3 fair value measurement as the significant inputs are unobservable and the Company is evaluating its remedies with respect to the amounts owed by Gold Rush.

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for assets for the year ended December 31 (in thousands):


	2021		2020
Assets:

Beginning of year balance	$	31,266	$	30,234
Accrued interest	928		903
Fair value adjustments	(129)		129

Ending balance	$	32,065	$	31,266

Changes in the fair value of the investment in convertible notes is included within comprehensive income (loss) on the accompanying consolidated statements of operations and comprehensive income (loss).

Liabilities measured at fair value

The following tables summarizes the Company’s liabilities that are measured at fair value on a recurring basis (in thousands):


			Fair Value Measurement at Reporting Date Using
	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Contingent consideration	$	19,434	$	—	$	—	$	19,434
Contingent earnout shares	42,831		—		42,831		—
Warrants	13		—		13		—
Total	$	62,278	$	—	$	42,844	$	19,434


			Fair Value Measurement at Reporting Date Using
	December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Contingent consideration	$	17,260	$	—	$	—	$	17,260
Contingent earnout shares	33,069		—		33,069		—
Warrants	13		—		13		—
Total	$	50,342	$	—	$	33,082	$	17,260

Contingent consideration

The Company uses a discounted cash flow analysis to determine the value of contingent consideration upon acquisition and updates this estimate on a recurring basis. The significant assumptions in the Company's cash flow analysis includes the probability adjusted projected revenues after state taxes, a discount rate as applicable to each acquisition, and the estimated number of locations that “go live” with the Company during the contingent consideration period. The valuation of the Company's contingent consideration is considered to be a Level 3 fair value measurement as the significant inputs are unobservable and require significant judgment or estimation. Changes in the fair value of contingent consideration liabilities are classified within other expenses, net on the accompanying consolidated statements of operations and comprehensive income (loss).

Contingent earnout shares

The Company determines the fair value of the contingent earnout shares based on the market price of the Company's A-1 common stock. The liability, by tranche, is then stated at present value based on i.) an interest rate derived from the Company's borrowing rate and the applicable risk-free rate and ii.) an estimate on when it expects the contingent earnout shares to convert to A-1 common stock. The valuation of the Company's contingent consideration is considered to be a Level 2 fair value measurement. Changes in the fair value of contingent earnout shares are included within loss (gain) on change in fair value of contingent earnout shares on the accompanying consolidated statements of operations and comprehensive income (loss).

Warrants

The Company determines the fair value of its Public Warrants based on their trading price (ticker symbol ACEL.WS) on the NYSE and is considered to be a Level 1 fair value measurement. The Company initially determined the fair value of its Private Placement Warrants by using the fair value of its Public Warrants and a Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires inputs such as the fair value of the Company's A-1 Common Stock, the risk-free interest rate, expected term, expected dividend yield and expected volatility. Beginning in the second quarter of 2020, the valuation of the Private Placement Warrants was based on the trading price of the Company's A-1 Common Stock divided by four as the holders of its outstanding Warrants were to receive 0.25 shares of Class A-1 Common Stock in exchange for each Warrant tendered in an exchange offer the Company consummated in August 2020. The Company's valuation of its Private Placement Warrants is considered to be a Level 2 fair value measurement. Changes in the fair value of the Warrants are included within (gain) loss on change in fair value of warrants on the accompanying consolidated statements of operations and comprehensive income (loss).

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for liabilities for the years ended December 31 (in thousands):


	2021		2020		2019
Liabilities:

Beginning of year balance	$	17,260	$	17,327	$	6,782
Issuance of contingent consideration in connection with acquisitions	105		3,245		7,216
Payment of contingent consideration	(4,358)		(4,420)		(1,658)


Fair value adjustments	6,427		1,108		4,987
Ending balance	$	19,434	$	17,260	$	17,327

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Stockholders’ Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Stockholders’ Equity

As discussed in Notes 1 and 3, on November 20, 2019, the Company, consummated a business combination pursuant to the Transaction Agreement, which has been accounted for as a reverse recapitalization. Pursuant to the Certificate of Incorporation as amended on November 20, 2019 and as a result of the reverse recapitalization, the Company retrospectively adjusted the shares issued and outstanding prior to November 20, 2019 to give effect to the exchange ratio used to determine the number of Class A-1 shares of common stock into which they were converted. Pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation, the Company authorized and has available for issuance the following shares and classes of capital stock, each with a par value of $0.0001 per share: i) 1,000,000 shares of preferred stock; and ii) 250,000,000 shares of Class A-1 Common Stock.

Class A-1 Common Stock

The holders of the Class A-1 Common Stock are entitled to one vote for each share. The holders of Class A-1 Common Stock are entitled to receive dividends or other distributions when and if declared from time to time and share equally on a per share basis in such dividends and distributions subject to such rights of the holders of preferred stock.

On September 28, 2020, the Company completed an underwritten public offering (the “Offering”) of 8,000,000 shares of its Class A-1 common stock (par value $0.0001 per share) at a price of $10.50 per share for a total offering size of $84.0 million. The Company received net proceeds from the sale of shares of Class A-1 Common Stock sold by it in the Offering of approximately $79.2 million (net of underwriting discounts and commissions). The Company incurred offering costs totaling $5.3 million which have been capitalized to additional paid-in capital. The Offering also granted the underwriters an option to purchase up to 1,200,000 additional shares of Class A-1 common stock at the public offering price of $10.50 less the underwriting discount, exercisable at any time within 30 days of September 23, 2020. In October 2020, the underwriters of the Offering partially exercised their option and purchased an additional 1,133,015 shares at a price of $10.50 per share, resulting in additional net proceeds to the Company of approximately $11.2 million (net of underwriting discounts and commissions).

Warrants

On January 31, 2013, the Company issued 253,575 warrants to certain individual stockholders as compensation for providing a personal guaranty for a revolving loan agreement. The warrants granted their holders the right to purchase the Company’s Class A-1 Common Shares at the price of $17.80 per share anytime from January 31, 2013 through January 30, 2020. The warrants were classified as an equity instrument. During the year ended December 31, 2019, 190,575 warrants were exercised prior to the reverse recapitalization for proceeds of $3.4 million.

Treasury Stock

On November 22, 2021, the Company’s Board of Directors approved a share repurchase program of up to $200 million of shares of common stock. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. Under the repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases or privately negotiated transactions, in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. The repurchase program does not obligate the Company to acquire any particular amount of shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. As of December 31, 2021, the Company purchased 701,305 shares under the plan at a cost of $9.0 million.

At December 31, 2021 and 2020, the Company has reserved Class A-1 Common Stock for future issuance in relation to the following:


	2021	2020
Class A-1 Common Stock warrants issued and outstanding	5,411	5,411
Class A-1 Common Stock options and RSUs issued and outstanding	3,150,215	3,885,360
Conversion of Class A-2 Common Stock	3,333,363	3,333,363
Class A-1 Common Stock reserved for issuance	6,488,989	7,224,134

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Gaming Terminal Fees	12 Months Ended
Gaming Terminal Fees	Dec. 31, 2021
Gaming Terminal Fees [Abstract]
Gaming Terminal Fees	Gaming Terminal FeesIn accordance with the Illinois Video Gaming Act, a 34% tax on net terminal income (such tax increased from 30% to 33% beginning on July 1, 2019 and from 33% to 34% beginning on July 1, 2020), as defined, is payable to the State of Illinois Gaming Board. A 0.8513% administrative fee is payable to a third-party at the direction of the State of Illinois Gaming Board (the “administrative fee”). Gaming terminal fees, which consist of the tax and administrative fee, totaled $245.7 million, $103.6 million and $133.2 million for the years ended December 31, 2021, 2020 and 2019, respectively. The net terminal income remaining is split “50/50” between the Company and the licensed gaming location. The licensed gaming location's share of net terminal income totaled $230.4 million, $98.3 million and $138.8 million for the years ended December 31, 2021, 2020 and 2019, respectively. The gaming terminal fees and the licensed gaming location's share of net terminal income are recorded in cost of revenue in the accompanying consolidated statements of operations and comprehensive income (loss).

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans 401(k) Plan The Company maintains a 401(k)-benefit plan for all employees with at least three months of service and have reached 21 years of age. Participants are 100% vested in their contributions. The Company provides an employer match contribution of 50% of the participants’ contribution up to 5% of their compensation. Participants are fully vested in the employer match contribution after one year of employment. The Company may also make profit sharing contributions to the plan which vest 20% a year after the first 2 years of employment and are fully vested after 6 years of employment. The Company may also elect to make other discretionary contributions to the Plan. The Company incurred 401(k)-benefit plan expense of approximately $0.9 million, $0.6 million and $0.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. Incentive Compensation Plan Included in certain employee agreements are provisions for bonuses, which are determined at the discretion of management. Bonus expense amounted to $11.2 million, $1.9 million and $2.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. Accrued bonuses totaled $5.1 million and $2.5 million at December 31, 2021 and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock-based Compensation

The Company grants various types of stock-based awards including stock options and restricted stock units (“RSUs”). Stock-based awards are valued on the date of grant and are expensed over the required service period. Total stock-based compensation expense recognized during the years ended December 31, 2021, 2020 and 2019, was $6.4 million, $5.5 million and $2.2 million, respectively. As of December 31, 2021, and 2020, there was approximately $17.8 million and $20.0 million, respectively, of unrecognized compensation expense related to stock-based awards, which is expected to be recognized through 2026.

During the years ended December 31, 2021, 2020 and 2019, the Company recognized gross excess tax benefits (expense) from stock-based compensation of $2.3 million, $5.2 million, and $(0.1) million, respectively. Excess tax benefits (expense) reflect the total realized value of the Company’s tax deductions from individual stock option exercise transactions and the vesting of restricted stock awards in excess (deficit) of the deferred tax assets that were previously recorded.

Grant of Stock Options

The Company previously adopted the 2011 Equity Incentive Plan of Accel Entertainment, Inc., and 2016 Equity Incentive Plan of Accel Entertainment, Inc., (collectively, “Plans”). Under the Plans, the aggregate number of shares of common stock that may be issued or transferred pursuant to options or restricted stock awards under the Plans will not exceed ten percent of the outstanding shares of the Company. Options generally vest over a three to five-year period. The exercise price of stock options shall not be less than 100% of the fair market value per share of common stock on the grant date. The term of the options are a maximum of 10 years from the grant date.

In conjunction with the closing of the reverse recapitalization, the Accel Entertainment, Inc. Long Term Incentive Plan (the “LTIP”) was adopted. The LTIP provides for grants of a variety of awards to employees and non-employees for providing services to the Company, including, but not limited to incentive stock options qualified as such under U.S. federal income tax laws, stock options that do not qualify as incentive stock options, stock appreciation rights, restricted stock awards, restricted stock units, cash incentive awards, and other stock-based awards. The Company has reserved, and in January 2020 registered, a total of 6,000,000 shares of Class A-1 common stock for issuance pursuant to the LTIP, subject to certain adjustments set forth therein. The term of any options to be granted are for a maximum of 10 years from the grant date. The exercise price of stock options shall not be less than 100% of the fair market value per share of common stock on the grant date.

Under the LTIP, the Company granted 262,097 stock options to eligible officers and employees of the Company during the year ended December 31, 2021, which will vest over a period of 4 years. The estimated grant date fair value of these options totaled $1.8 million.

The Company uses the Black-Scholes formula to estimate the fair value of its stock-based payments. The volatility assumption used in the Black-Scholes formula is based on the volatility of comparable public companies. The Company determined the share price at grant date used in the Black-Scholes formula based on an internal valuation model for options granted prior to the Company going public. Upon going public, the Company used the closing market stock price on the date of grant.

The fair value assigned to each option is estimated on the date of grant using a Black-Scholes-based option valuation model. The expected term of each option granted represents the period of time that each option granted is expected to be outstanding. The risk-free rate for periods within the contractual life of the unit is based on U.S. Treasury yields in effect at the time of grant.

The following assumptions were used in the option valuation model for options granted during the years ended December 31, are as follows:


	2021	2020	2019 *
Expected approximate volatility	60%	38%	—%
Expected dividends	None	None	None
Expected term (in years)	7	7	None
Risk-free rate	0.72% -1.17%	0.44% - 1.19%	—%

* there were no options granted in 2019

A summary of the options granted and the range in vesting periods based on specific provisions within the option agreements during the years ended December 31, are as follows:


	2021	2020	2019 *
Options granted	262,097	1,449,779	0
Vesting period (in years)	4	4 - 5	0

The following table sets forth the activities of the Company’s outstanding stock options for the years ended December 31, 2021, 2020 and 2019.


Outstanding options	Shares	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price
Outstanding at January 1, 2019	3,832,424	$	0.73	$	2.16
Granted	—	—		—
Exercised	(2,590,274)	0.62		1.84
Forfeited/expired	(13,751)	0.77		2.33
Outstanding at December 31, 2019	1,228,399	0.96		2.91
Granted	1,449,779	4.49		11.20
Exercised	(359,987)	0.69		2.33
Forfeited/expired	(68,580)	1.32		3.85
Outstanding at December 31, 2020	2,249,611	3.25		8.32
Granted	262,097	6.90		11.75
Exercised	(577,719)	0.96		2.95
Forfeited/expired	(377,503)	4.08		10.03
Outstanding at December 31, 2021	1,556,486	4.51		10.47

A summary of the status of the activities of the Company’s nonvested stock options for the years ended December 31, 2021, 2020 and 2019 is as follows.


Nonvested options	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019	1,709,589	$	0.82
Granted	—	—
Vested	(547,537)	0.85
Forfeited	(13,751)	0.77
Nonvested at December 31, 2019	1,148,301	0.95
Granted	1,449,779	4.49
Vested	(496,464)	0.08
Forfeited	(68,580)	1.32
Nonvested at December 31, 2020	2,033,036	3.49
Granted	262,097	6.90
Vested	(506,299)	1.23
Forfeited	(377,503)	4.08
Nonvested at December 31, 2021	1,411,331	4.77

As of December 31, 2021, and 2020, a total of 145,555 and 216,575 options with a weighted-average remaining contractual term of 3.5 and 1.6 years, respectively, granted to key employees were vested. The fair value of options that vested during 2021, 2020 and 2019 was $0.3 million, $0.4 million, and $1.2 million, respectively. As of December 31, 2021, and 2020, the weighted-average exercise price of the non-vested awards was $10.98 and $8.87, respectively. As of December 31, 2021, and 2020, the weighted-average remaining contractual term of the outstanding awards was 7.5 years and 6.5 years, respectively. The total intrinsic value of options that were exercised during the years ended December 31, 2021, 2020 and 2019 was approximately $5.2 million, $2.2 million and $20.7 million, respectively. The aggregate intrinsic value of options outstanding as of December 31, 2021 is $4.0 million.

Grant of restricted stock units (“RSUs”)

The Company issued 558,193 RSUs to eligible employees and Directors of the Company during the year ended December 31, 2021, which will vest over a period of 4 to 5 years for employees and a period of 1 year for Directors. The RSUs are valued using the stock price on the grant date and had an estimated grant date fair value of $6.7 million.

The following table sets forth the activities of the Company’s RSUs for the years ended December 31, 2021 and 2020. There were no RSUs granted prior to 2020.


Non-vested RSUs	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2020	—	$	—
Granted	1,665,968	11.16
Vested	(4,960)	10.08
Forfeited	(25,259)	11.66
Nonvested at December 31, 2020	1,635,749	11.15
Granted	558,193	11.96
Vested (1)	(343,579)	10.82
Forfeited	(256,634)	10.87
Nonvested at December 31, 2021	1,593,729	11.55

(1) Includes 154,641 RSUs that are vested and issued.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Prior to the consummation of the reverse recapitalization, TPG Pace Holding Corp. was registered in the Cayman Islands. On November 20, 2019 TPG Pace Holding Corp. effected a deregistration as an exempted company in the Cayman Islands under the Cayman Islands Companies Law (2018 Revision), and a domestication as a corporation incorporated under the laws of the State of Delaware under Section 388 of the DGCL, pursuant to which the Company's jurisdiction of incorporation was changed from the Cayman Islands to the State of Delaware. This domestication was analyzed under the applicable tax laws and it was determined that there were no significant tax implications associated with the domestication.

The Company recognized income tax expense (benefit) of $15.0 million, $(16.9) million and $5.2 million during the years ended December 31, 2021, 2020 and 2019, respectively, which consists of the following (in thousands):


	2021		2020		2019
Current provision
Federal	$	1,489	$	—	$	(85)
State	7,418		—		43
Total current provision	8,907		—		(42)
Deferred provision
Federal	8,363		(12,286)		3,740
State	(2,253)		(4,632)		1,501
Total deferred provision	6,110		(16,918)		5,241
Total income tax expense (benefit)	$	15,017	$	(16,918)	$	5,199

A reconciliation of the “expected” income taxes computed by applying the federal statutory income tax rate to the total expense (benefit) is as follows (in thousands):


	2021		2020		2019
Computed “expected” tax expense (benefit)	$	9,781	$	(3,639)	$	(6,629)
Increase (decrease) in income taxes resulting from:
State income taxes	3,659		(2,848)		1,634
Return-to-provision	(258)		(7,613)		(340)
Change in fair value of contingent earnout shares	2,050		(1,782)		2,066
Change in fair value of warrants	—		(2,640)		4,423
Permanently non-deductible transaction costs	215		485		2,079
Officer's compensation	23		—		1,991
Other permanent items	18		220		(16)
Enacted rate change	(28)		(6)		—
Other	(442)		905		(9)
Total income tax expense (benefit)	$	15,017	$	(16,918)	$	5,199

In the third quarter of 2020, the Company filed its federal and state income tax returns and identified certain favorable return-to-provision adjustments, primarily the deductibility of employee and officer compensations costs and transaction costs, following the engagement of specialized tax technical expertise resulting in a change in estimate relative to the Company's best estimate used in the preparation of the 2019 income tax provision. The Company recorded this change in estimate and related income tax benefit of $7.6 million for the year ended December 31, 2020.

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows at December 31 (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	20,934	$	31,215
Location contracts and other intangibles	8,150		5,829
Stock-based compensation	2,513		1,428
Other	2,107		394
	33,704		38,866
Deferred tax liabilities:
Property and equipment	35,952		35,005
Unrealized gain on investments in convertible notes	—		37
	35,952		35,042

Total deferred tax (liability) asset, net	$	(2,248)	$	3,824

A valuation allowance is required to be established or maintained when, based on currently available information, it is more likely than not that all or a portion of a deferred tax asset will not be realized. The guidance on accounting for income taxes provides important factors in determining whether a deferred tax asset will be realized, including whether there has been sufficient taxable income in recent years and whether sufficient taxable income can reasonably be expected in future years in order to utilize the deferred tax asset.

The Company evaluated the need to record a valuation allowance for deferred tax assets based on an assessment of whether it is more likely than not that deferred tax benefits will be realized through the generation of future taxable income. Appropriate consideration was given to all available evidence, both positive and negative, in assessing the need for a valuation allowance. As a result of this evaluation, the Company concluded as of December 31, 2021, that the positive evidence outweighed the negative evidence and that it is more likely than not that its deferred tax assets will be realized

As of December 31, 2021, and 2020, the Company did not recorded a liability for unrecognized tax benefits.

The Company is subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. As of December 31, 2021, the Company was subject to U.S federal income tax examinations for the years 2018 through 2020 and income tax examinations from state jurisdictions for the years 2018 through 2020. The Company's 2017 federal income tax return was under examination but the audit concluded in the fourth quarter of 2021 with no adjustments.

The following table summarizes carryforwards of net operating losses as of December 31 (in thousands):


	2021			2020
	Amount		Expiration	Amount		Expiration
Federal net operating losses	$	61,514	Indefinite	$	108,830	2033
State net operating losses	106,810		2030	106,004		2030

Significant equity restructuring often results in an Internal Revenue Section 382 ownership change that limits the future use of net operating loss (“NOL”) carryforwards and other tax attributes. The Company has determined that it has undergone an ownership change in 2019 (as defined by Section 382 of the Internal Revenue Code). As a result, the Company's use of NOL carryforwards on an annual basis will be limited. Neither the amount of the Company's NOL carryforwards nor the amount of limitation of such carryforwards claimed by the Company have been audited or otherwise validated by the Internal Revenue Service, which could challenge the amount the Company has calculated. The recognition and measurement of the Company's tax benefit includes estimates and judgment by the Company's management, which includes subjectivity. Changes in estimates may create volatility in the Company's tax rate in future periods based on new information about particular tax positions that may cause management to change its estimates.

The Company also had a credit carryforward of approximately $0.4 million as of December 31, 2020, which was fully utilized in 2021.

On March 27, 2020, the CARES Act was signed into law and authorizes more than $2 trillion to battle COVID-19 and its economic effects, including immediate cash relief for individual citizens, loan programs for small business, support for hospitals and other medical providers, and various types of economic relief for impacted businesses and industries. The Company was eligible for certain operational credits of the relief programs under the CARES Act and has recorded a benefit of $1.3 million to other expenses, net on its consolidated statements of operations and comprehensive income (loss) for the year ended December 31, 2020. The Company will continue to monitor the situation and evaluate any additional future legislation.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and ContingenciesThe Company leases office space under agreements expiring at various dates from June 2022 through July 2028. Total rent expense under these leases approximated $0.6 million, $0.5 million and $0.3 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company recognizes rent expense on a straight-line basis over the life of the leases. Rent expense is recorded in general and administrative expense in the accompanying consolidated statements of operations and comprehensive income (loss).

Future minimum payments under these leases are as follows for the years ending December 31 (in thousands):


2022	$	671
2023	525
2024	314
2025	133
2026	135
Thereafter	91
Total	$	1,869

The Company has certain earnouts in periods for future location performance related to certain business acquisitions (see discussion in Note 10).

The Company has certain employment agreements that call for salaries and potential severance upon termination.

Lawsuits and claims are filed against the Company from time to time in the ordinary course of business, including related to employment of professionals and non-compete clauses and agreements. Other than settled matters explained as follows, these actions are in various stages, and no judgments or decisions have been rendered. Management, after reviewing matters with legal counsel, believes that the outcome of such matters will not have a material adverse effect on the Company’s financial position or results of operations.

Accel has been involved in a series of related litigated matters stemming from claims that Accel wrongly contracted with 10 different licensed establishments (the “Defendant Establishments”) in 2012 in violation of the contractual rights held by J&J Ventures Gaming, LLC (“J&J”), as further described below.

On August 21, 2012, one of the Company’s operating subsidiaries entered into certain agreements with Jason Rowell (“Rowell”), a member of Action Gaming LLC (“Action Gaming”), which was an unlicensed terminal operator that had exclusive rights to place and operate VGTs within a number of establishments, including the Defendant Establishments. Under agreements with Rowell, the Company agreed to pay him for each licensed establishment which decided to enter into exclusive location agreements with the Company. In late August and early September 2012, each of the Defendant Establishments signed separate location agreements with the Company, purporting to grant it the exclusive right to operate VGTs in those establishments. Separately, on August 24, 2012, Action Gaming sold and assigned its rights to all its location agreements to J&J, including its exclusive rights with the Defendant Establishments (the “J&J Assigned Agreements”). At the time of the assignment of such rights to J&J, the Defendant Establishments were not yet licensed by the Illinois Gaming Board (“IGB”).

Action Gaming, J&J, and other parties, collectively, the Plaintiffs, filed a complaint against the Company, Rowell, and other parties in the Circuit Court of Cook County (the “Circuit Court”), on August 31, 2012, as amended on November 1, 2012, December 19, 2012, and October 3, 2013, alleging, among other things, that the Company aided and abetted Rowell in breaches of his fiduciary duties and contractual obligations with Action Gaming and tortiously interfered with Action Gaming’s contracts with Rowell and agreements assigned to J&J. The complaint seeks damages and injunctive and equitable relief. On January 24, 2018, the Company filed a motion to dismiss for lack of subject matter jurisdiction, as further described below. On May 14, 2018, the Circuit Court denied the Company’s motion to dismiss and granted a stay to the case, pending a ruling from the IGB on the validity of the J&J Assigned Agreements.

From 2013 to 2015, the Plaintiffs filed additional claims, including J&J Ventures Gaming, LLC et al. v. Wild, Inc. (“Wild”), in various circuit courts seeking declaratory judgements with a number of establishments, including each of the Defendant Establishments, requesting declarations that, among other things, J&J held the exclusive right to operate VGTs at each of the Defendant Establishments as a result of the J&J Assigned Agreements. The Company was granted leave to intervene in all of the

declaratory judgments. The circuit courts found that the J&J Assigned Agreements were valid because each of the underlying location agreements were between an unlicensed establishment and an unlicensed terminal operator, and therefore did not constitute use agreements that were otherwise precluded from assignment under the IGB’s regulations. Upon the Company’s appeal, the Illinois Appellate Court, Fifth District (the “District Court”), vacated the circuit courts’ judgments and dismissed the appeals, holding that the IGB had exclusive jurisdiction over the matter that formed the basis of the parties’ claims, and declined to consider the merits of the parties’ disputes. On September 22, 2016, and after the IGB intervened, the Supreme Court of Illinois issued a judgment in Wild, affirming the District Court’s decision vacating the circuit courts’ judgments for lack of subject matter jurisdiction and dismissing the appeals, determining that the IGB has exclusive jurisdiction to decide the validity and enforceability of VGT use agreements.

Between May 2017 and September 2017, both the Company and J&J filed petitions with the IGB seeking adjudication of the rights of the parties and the validity of the use agreements. Those petitions have been fully briefed and remain pending. There is no indication as to when the IGB will rule on the petitions. The Company does not have a present estimate regarding the potential damages, if any, that could potentially be awarded in this litigation and, accordingly, have established no reserves relating to such matters. There are also petitions pending with the IGB which could lead to the Company obtaining new locations.

On October 7, 2019, the Company filed a lawsuit in the Circuit Court of Cook County against Jason Rowell and other parties related to Mr. Rowell’s breaches of his non-compete agreement with the Company. The Company alleged that Mr. Rowell and a competitor were working together to interfere with the Company’s customer relationships. On November 7, 2019, Mr. Rowell filed a lawsuit in the Circuit Court of Cook County against the Company alleging that he had not received certain equity interests in the Company to which he was allegedly entitled under his agreement. The Company has answered the complaint and asserted a counterclaim, and intends to defend itself against the allegations. Mr. Rowell's claims and the Company's claims are both being litigated in this lawsuit, while the original lawsuit remains pending against the other defendants.

On July 2, 2019, Illinois Gaming Investors, LLC filed a lawsuit against the Company. The lawsuit alleges that a current employee of the Company violated his non-competition agreement with Illinois Gaming Investors, LLC, and together with the Company, wrongfully solicited prohibited licensed video gaming locations. The lawsuit on its face seeks damages of $10.0 million. The parties are engaging in discovery and the Company is in the process of defending this lawsuit.

On December 18, 2020, the Company received a disciplinary complaint from the IGB alleging violations of the Video Gaming Act and the IGB’s Adopted Rules for Video Gaming. The disciplinary complaint seeks to fine the Company in the amount of $5 million. The Company filed its initial answer to the IGB’s complaint on January 11, 2021 and have begun the administrative hearing process. The Company intends to vigorously defend itself against the allegations in the complaint and denies any allegations of wrongdoing.

Given the status of the legal proceedings discussed above, the Company has determined that a legal liability is probable and recorded an estimated loss of $0.6 million for the year ended December 31, 2021.

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Subsequent to the Company's acquisitions of Fair Share, G3, Tom's Amusements and AVG, the sellers became employees of the Company. Consideration payable to the Fair Share seller was $2.4 million and $1.6 million as of December 31, 2021 and 2020, respectively. Payments to the Fair Share seller under the acquisition agreement were $1.0 million for the year ended December 31, 2021 and $0.9 million for both of the years ended December 31, 2020 and 2019. Consideration payable to the G3 sellers was $0.4 million and $0.5 million as of December 31, 2021 and 2020, respectively. Payments to the G3 seller under the acquisition agreement were $0.3 million, $2.5 million, and $0.4 million during the years ended December 31, 2021, 2020 and 2019, respectively. Consideration payable to the Tom's Amusements seller was $1.5 million as of December 31, 2021 and 2020, respectively. There were no payments made to the Tom's Amusements seller for the years ended December 31, 2021and 2020. Consideration payable to the AVG seller was $0.4 million and $1.5 million as of December 31, 2021 and 2020, respectively. Payments to the AVG seller under the acquisition agreement were $2.3 million for the year ended December 31, 2021. There were no payments to the AVG seller during the year ended December 31, 2020. The Company engaged Much Shelist, P.C. (“Much Shelist”), as its legal counsel for general legal and business matters. An attorney at Much Shelist is a related party to management of the Company. For the years ended December 31, 2021, 2020, and 2019, Accel paid Much Shelist $0.2 million, $0.1 million, and $0.6 million, respectively. These payments were included in general and administrative expenses within the consolidated statements of operations and comprehensive income (loss), however, $0.2 million of the amounts paid in the fourth quarter of 2020 were recorded to additional paid-in capital as these costs were determined to be direct and incremental for the reverse recapitalization discussed in Note 3. As previously mentioned, the Company completed an underwritten public offering of 8,000,000 shares of its Class A-1 common stock, pursuant to the terms of an Underwriting Agreement, dated September 23, 2020, with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein. The Raine Group, which employs a director of the Company, Gordon Rubenstein, was part of the underwriting group and was paid fees totaling $0.2 million (5.5% of underwriting fee which was 4.5% of $84 million). These payments were capitalized to additional paid-in-capital on the consolidated statements of stockholders' equity (deficit). The Raine Group also provided investment banking services and assisted the Company in the negotiations and consummation of the reverse recapitalization. The Company paid $11 million to the Raine Group in 2019. Throughout the third quarter of 2019, one of the Company’s Class A Common Stockholders made payments on behalf of the Company directly to the Company’s independent registered public accounting firm for services rendered to the Company during the same period totaling $2.9 million. Such amounts are included as a component of other expenses, net in the Company’s consolidated statements of operations and comprehensive income (loss) and contributed capital in the consolidated statement of stockholders’ equity (deficit).

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings (loss) per share (“EPS”) is computed based on the weighted average number of shares of Class A-1 shares outstanding during the period. Diluted EPS is computed based on the weighted average number of shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, unvested RSUs, contingent earnout shares, and warrants.

Since the shares issuable under the contingent earnout are contingently issuable shares that depend on future earnings or future market prices of the common stock or a change in control, the shares are excluded when computing diluted earnings (loss) per share unless the shares would be issuable if the reporting date was the end of the contingency period. Upon settlement, these shares are included in Class A-1 common stock in the Company’s basic EPS share count.

The components of basic and diluted EPS were as follows (in thousands, except per share amounts):


	2021		2020		2019
Net income (loss)	$	31,559	$	(410)	$	(36,764)
Less: Net income applicable to contingently issuable shares	—		909		—
Net income (loss) on which diluted earnings per share is calculated	$	31,559	$	(1,319)	$	(36,764)

Basic weighted average outstanding shares of common stock	93,781		83,045		61,848
Dilutive effect of stock-based awards for common stock	857		—		—
Dilutive effect of contingent earnout shares before conversion	—		68		—


Diluted weighted average outstanding shares of common stock	94,638		83,113		61,848

Earnings (loss) per share:
Basic	$	0.34	$	—	$	(0.59)
Diluted	$	0.33	$	(0.02)	$	(0.59)

Anti-dilutive stock-based awards, contingent earnout shares and warrants excluded from the calculations of diluted EPS were 4,506,988, 7,224,134, and 28,561,724 for the years ended December 31, 2021, 2020 and 2019, respectively.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events As of the filing of the financial statements, the Gold Rush convertible notes (which the Company converted under the terms of the convertible notes to shares of common stock of Gold Rush, but the IGB has currently denied the distribution of shares to the Company) are deemed in default for disclosure and presentation purposes, assuming non-conversion of the convertible notes, as no repayment or installment payments have been received. The Company has classified the entire $32.1 million accounting fair value of the convertible notes as current on the consolidated balance sheets as the Company hopes to resolve this matter within the next year. The Company did not further adjust the valuation of the convertible notes downward as the Company believes, assuming for accounting purposes that the notes have not been converted, the recorded amounts approximate the accounting fair value. The Company is evaluating its legal remedies with respect to its rights to receive the Gold Rush common stock or equivalent amounts it is entitled to receive with respect to the convertible notes, the value of which could be materially in excess of the current accounting fair value. On March 9, 2022, the Company filed a lawsuit in the Circuit Court of Cook County against Gold Rush relating to the Gold Rush convertible notes. The complaint seeks damages for breach of contract and the implied covenant of good faith and fair dealing as well as unjust enrichment. The lawsuit is publicly available. For more information on the Gold Rush convertible notes, See Note 4.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation and preparation	Basis of presentation and preparation: The consolidated financial statements and accompanying notes were prepared in conformity with U.S. GAAP and the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of the Company and of its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation.
Adopted accounting pronouncements / Recent accounting pronouncements	Previously adopted accounting pronouncements: In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing revenue recognition guidance and creates a new topic for Revenue from Contracts with Customers. The guidance provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. This guidance also substantially revises required interim and annual disclosures. The Company, as an EGC, elected to use the non-public effective date and adopted the standard in the fourth quarter of 2019 for the annual period ended December 31, 2019. The Company also elected the modified retrospective adoption approach and applied the standard to all contracts open as of January 1, 2019. The Company's quarterly financial statement disclosure for the first nine months of 2019 reflect the previous accounting standard of FASB Accounting Standards Codification ("ASC") 605, Revenue Recognition, and will not be restated for the adoption of Topic 606. The cumulative impact of the new revenue standard for fiscal year 2019 was recorded in the fourth quarter and reflects the adjustment as if the Company adopted the standard as of January 1, 2019. The timing and amount of revenue recognized by the Company did not change upon the adoption of the new standard, however the Company's accounting for route acquisition costs was impacted. ASC 340-40, Other Assets and Deferred Costs - Contracts With Customers (“ASC 340-40”), issued in conjunction with ASU 2014-09, provides updated guidance around accounting for the incremental costs of obtaining a contract with a customer and for the costs incurred to fulfill a contract with a customer. ASC 340-40 states that an entity should amortize contract cost assets “on a systemic basis that is consistent with the transfer to the customer of the good or services to which the asset relates”, which typically corresponds to the period in which revenue will be recognized. The Company chose straight-line amortization of the contracts as it felt that best depicted when revenue would be recognized and when customers are visiting the gaming establishments. When determining the appropriate amortization period under ASC 340-40, the Company evaluated the impact of any renewal clauses that are likely to be exercised. The Company focused on whether commissions paid for renewals were commensurate with commissions paid on the original contract. The Company determined the renewal commissions were not commensurate and the amortization period should include expected renewals. As such, the period over which route and customer acquisition costs are amortized was extended to include expected renewals which resulted in an increase to the average life to 12.4 years upon adoption. The Company recorded a cumulative effect adjustment, net of taxes, to accumulated deficit of $2.6 million for the year ended December 31, 2019, relating to the decreased in accumulated amortization of route acquisition costs. Recent accounting pronouncements: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance in this ASU supersedes the leasing guidance in Topic 840, Leases. In July 2018, the FASB also issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which provides an optional transition method allowing the standard to be applied at the adoption date. Under the new guidance, lessees are required to recognize lease assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Based on its status as an EGC, the Company expects the new standard will be effective for the Company's fiscal year beginning after December 15, 2021. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is assessing the impact of the standard on its condensed consolidated financial statements, as well as evaluating the impact on arrangements within potential future acquisitions. Other recently issued accounting standards or pronouncements have been excluded because they are either not relevant to the Company, or are not expected to have, or did not have, a material effect on its consolidated financial statements.
Use of estimates	Use of estimates: The preparation of consolidated financial statements requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements and (iii) the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates used by the Company include, among other things, the useful lives for depreciable and amortizable assets, income tax provisions, the evaluation of the future realization of deferred tax assets, projected cash flows in assessing the initial valuation of intangible assets in conjunction with business and asset acquisitions, the selection of useful lives for depreciable and amortizable assets in conjunction with business and asset acquisitions, the valuation of level 3 investments, the valuation of contingent earnout shares and warrants, contingencies, and the expected term of share-based compensation awards and stock price volatility when computing share-based compensation expense. The Company also estimated stock prices prior to the reverse recapitalization discussed in Note 3 when computing share-based compensation expense. Actual results may differ from those estimates.
Segment information	Segment information: The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is the chief executive officer, who has ultimate responsibility for the operating performance of the Company and the allocation of resources. The CODM assesses the Company’s performance and allocates resources based on consolidated results, and this is the only discrete financial information that is regularly reviewed by the CODM.
Cash and cash equivalents	Cash and cash equivalents: Cash and cash equivalents include bank deposit accounts; term bank deposit accounts; uncollected cash in the Company’s video gaming terminals, ATMs, and redemption terminals; and cash in Company vaults. The Company’s policy is to limit the amount of credit exposure to any one financial institution. The Company maintains its cash in accounts which may at times exceed Federal Deposit Insurance Corporation insured limits. The Company has not experienced any losses in such accounts.
Convertible notes	Convertible notes: At acquisition, an entity shall classify debt securities as trading, available-for-sale, or held-to-maturity. While the Company has no the intention of selling the notes, it cannot classify them as held-to-maturity due to the conversion feature. Therefore, the Company has classified its investment in convertible notes as available for sale.
Property and equipment	Property and equipment: Property and equipment are stated at cost or fair value at the date of acquisition. Maintenance and repairs are charged to expense as incurred. Major additions, replacements and improvements are capitalized. Spare parts are included in other current assets when acquired and are expensed when used to repair equipment.Leasehold improvements are amortized over the shorter of the useful life or the lease.Development costs directly associated with the acquisition, development and construction of a project are capitalized as a cost of the project during the periods in which activities necessary to prepare the property for its intended use are in progress. Interest costs associated with major construction projects are capitalized as part of the cost of the constructed assets. When no debt is incurred specifically for a project, interest is capitalized on amounts expended for the project using the weighted-average cost of borrowing. Capitalization of interest ceases when the project (or discernible portions of the project) is substantially complete. If substantially all of the construction activities of a project are suspended, capitalization of interest will cease until such activities are resumed.
Concentration of credit risk	Concentration of credit risk: The Company’s operations are centralized primarily in the State of Illinois. Should there be favorable or unfavorable changes to the Illinois Gaming Act there may be an impact on the Company’s results of operations. The Company has high concentrations of locations within certain municipalities in Illinois which could impact the Company if these municipalities change their gaming laws.
Fair value of financial instruments	Fair value of financial instruments: The Company’s financial instruments consist principally of cash, convertibles notes, accounts payable, route and customer acquisition costs payable, contingent consideration, contingent earnout shares liability, and bank indebtedness. The carrying amount of cash, accounts payable and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company estimates the fair value of its investment in convertible notes on a recurring basis based on Level 3 inputs. The Company estimates the fair value of its debt using level two and level three inputs by discounting the future cash flows using current interest rates at which it could obtain similar borrowings in consideration of the estimated enterprise value of the Company. Contingent consideration, which is recorded within consideration payable on the accompanying consolidated balance sheets, is measured at fair value on a recurring basis based on Level 3 inputs. The Company's Contingent earnout shares liability and warrant liability is measured at fair value on a recurring basis based on Level 2 inputs. For further discussion on how the Company determines the fair value of its investment in convertible notes, contingent consideration, contingent earnout shares and warrants, see Note 13.
Revenue recognition / Route and customer acquisition costs	Revenue recognition: The Company generates revenues from the following types of services: gaming terminals, amusements and ATMs. Revenue is disaggregated by type of revenue and is presented on the face of the consolidated statements of operations and comprehensive income (loss). Net gaming revenue is the net cash from gaming activities, which is the difference between gaming wins and losses. Net gaming revenue includes the amounts earned by the licensed gaming locations and is recognized at the time of gaming play. Additionally, taxes and administrative expenses due to the states in which the Company operates are recorded as net gaming revenue and cost of revenue. Amusement revenue represents amounts collected from machines (e.g. dart boards, digital jukeboxes, pool tables, etc.) operated at various locations and is recognized at the time the machine is used. ATM fees and other revenue represents fees charged for the withdrawal of funds from the Company’s redemption terminals and stand-alone ATM machines and is recognized at the time of the transaction. The Company determined that in a gaming environment, whenever a customer’s money has been accepted by a machine, the Company has an obligation (an implied contract) to provide the customer access to the game and honor the outcome of the game (in the case of video gaming terminals). The Company determined that the implied contract is entered into between the Company and customers satisfies the requirements of a contract under the new revenue standard, as (i) the contract is a legally enforceable contract with the customer, (ii) the arrangement identifies the rights of the parties, (iii) the contract has commercial substance, and (iv) the cash is received upfront from the customer, so its collectability is probable. The gaming service is a single performance obligation in each implied contract with the customer. The Company applies the portfolio approach of all wins and losses by gaming terminals daily to determine the total transaction price of the portfolio of implied contracts. The Company recognizes revenue when the single performance obligation is satisfied, which is at the completion of each game. Route and customer acquisition costs: The Company’s route and customer acquisition costs consist of fees paid at the inception of contracts entered into with third parties and licensed video gaming establishments throughout the State of Illinois which allow the Company to install and operate video gaming terminals. The route and customer acquisition costs and route and customer acquisition costs payable are recorded at the net present value of the future payments using a discount rate equal to the Company’s incremental borrowing rate associated with its long-term debt. Route and customer acquisition costs are amortized on a straight-line basis over 18 years beginning on the date the location goes live and amortized over the life of the contract, which includes expected renewals. The Company records the accretion of interest on route and customer acquisitions costs payable in the consolidated statements of operations and comprehensive income (loss) as a component of interest expense. For locations that close prior to the end of the contractual term, the Company writes-off the net book value of the route and customer acquisition cost and route and customer acquisition cost payable and records a gain or loss in the consolidated statements of operations and comprehensive income (loss) as a component of other expenses, net. The Company’s route and customer acquisition costs also consists of prepaid commission costs to the Company's internal sales force of employees. The commissions paid to internal sales employees are subsequently expensed once the respective licensed video gaming location goes live and the commission is earned by the employee.
Business acquisitions / Consideration payable/ Contingent stock consideration	Business acquisitions: The Company evaluates the inputs, processes and outputs of each business acquisition to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statements of operations and comprehensive (loss) income. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and amortized over the useful life of the acquired assets. The Company accounts for acquisitions using the acquisition method and records the cost of the businesses acquired among tangible and recognized intangible assets and liabilities based upon their estimated fair values as of the acquisition date. Recognized intangibles primarily include the value of location contracts. The Company estimates the fair value of the business acquired using a combination of the cost and income approaches, depending on the specific assets or liabilities acquired. The Company estimates the value of property and equipment and other current assets and liabilities acquired based on their cost, which approximates fair value at acquisition.Consideration payable: Consideration payable consists of amounts payable related to certain business acquisitions as well as contingent consideration for future location performance related to certain business acquisitions (see Note 10). Consideration payable, exclusive of contingent consideration, is discounted using the Company’s incremental borrowing rate associated with its long-term debt. The contingent consideration is measured at fair value on a recurring basis. The changes in the fair value of contingent consideration are recognized within the Company’s consolidated statements of operations and comprehensive income (loss) as other expenses, net.Contingent stock consideration: Contingent stock, which is provided as consideration in business acquisitions, is valued based on the fair value of stock issued. The contingent stock consideration is discounted using the Company’s weighted average cost of capital and the accretion of interest is recorded in the consolidated statements of operations and comprehensive income (loss) as a component of interest expense.
Location contracts acquired	Location contracts acquired: Location contracts acquired are accounted for as intangible assets and consist of expected cash flows to be generated from location contracts acquired through business and asset acquisitions. Location contracts acquired are amortized on a straight-line basis over the expected useful life of 15 years. Location contracts are tested for impairment when triggering events occur. If a triggering event were to occur, the Company compares the carrying amount of the location contracts to future undiscounted cash flows. If the value of future undiscounted cash flows is less than the carrying amount of an asset group, an impairment loss is recorded based on the excess of the carrying amount over the fair value of the asset group.
Goodwill	Goodwill: Goodwill represents the difference between the purchase price and the fair value of the identifiable tangible and intangible net assets acquired when accounted for using the purchase method of accounting. Goodwill is reviewed for impairment annually, as of October 1st, and whenever events or changes in circumstances indicate that the carrying value of the goodwill may not be recoverable. When performing the annual goodwill impairment test, the Company conducts a qualitative assessment to determine whether it is more likely than not that the goodwill is impaired. Under the qualitative assessment, the Company considers both positive and negative factors, including macroeconomic conditions, industry events, financial performance, and makes a determination of whether it is more likely than not that the fair value of the goodwill is less than its carrying amount. If, after assessing the qualitative factors, the Company determines it is more likely than not the goodwill is impaired, it then performs a quantitative test. When performing the quantitative test, the Company compares the fair value of the reporting unit to its carrying value. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, the Company would record an impairment loss equal to the difference.
Impairment of long-lived assets	Impairment of long-lived assets: Long-lived assets, which includes property and equipment, net and other assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset or asset group may not be recoverable. Impairment of the assets is measured by a comparison of the carrying amount of the asset to future undiscounted cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount of which the carrying amount of the asset exceeds the fair value of the asset. There were no indicators of impairment of long-lived assets in 2021, 2020, or 2019.
Contingent earnout shares liability	Contingent earnout shares liability: The Company's Class A-2 common stock is classified as a contingent earnout shares liability due to the fact that the conversion of the Company's Class A-2 common stock would be accelerated on a change of control regardless of the transaction value. The liability is stated at fair value and any change in the fair value is recognized as a gain or loss in the Company’s consolidated statements of operations and comprehensive income (loss).
Warrant liability	Warrant liability: The Company's Warrants are classified as a liability due to the fact that certain provisions preclude the Warrants from being accounted for as components of stockholders’ equity, including certain settlement provisions that differ based on the holder of the Warrants. The Warrants are measured at fair value at each reporting date in accordance with ASC 820, Fair Value Measurement. The changes in fair value are recognized in the consolidated statement of operations and comprehensive income (loss) in the period of change
Stock-based compensation	Stock-based compensation: The Company grants common stock options and/or restricted stock units to certain employees and officers. Stock-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as general and administrative expense over the employee’s requisite service period. All stock-based awards are classified as equity awards.
Income taxes	Income taxes: The Company is organized as a C-corporation and files tax returns at the federal and state level. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards, and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the book basis of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all of the deferred tax asset, will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in the tax laws and rates as of the date of enactment.The consolidated financial statements reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities’ full knowledge of the position and all relevant facts. When and if applicable, potential interest and penalty costs are accrued as incurred with expenses recognized in general and administrative expenses in the consolidated statements of operations and comprehensive income (loss).
Earnings (loss) per share	Earnings (loss) per share: The Company computes basic earnings (loss) per share by dividing net income (loss) by the weighted average number of shares outstanding for the applicable period. Diluted earnings (loss) per share are computed in the same manner as basic earnings (loss) per share, except that the number of shares is increased to assume exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase would be anti-dilutive. Under the treasury stock method, the amount the employee must pay for exercising stock options and the amount of compensation cost for future service that the Company has not yet recognized are assumed to be used to repurchase shares.
Debt issuance costs	Debt issuance costs: Debt issuance costs are capitalized and amortized over the contractual terms of the related loans. Debt issuance costs are presented as an offset to the related loans on the consolidated balance sheets.
Reverse recapitalization expenses	Reverse recapitalization expenses. Legal fees and other costs that were determined to be direct and incremental to the reverse recapitalization were recorded to equity as additional paid-in capital. Other fees associated with the reverse recapitalization that were not direct and incremental were recorded to other expenses, net on the consolidated statements of operations and comprehensive income (loss).
Advertising costs	Advertising costs: Advertising costs are primarily comprised of marketing expenses, which are recorded within general and administrative expense within the accompanying consolidated statements of operations and comprehensive income (loss).

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Change in Accounting Estimate

The impact of these changes in estimate for the year ended December 31, 2021, was as follows (in thousands):


	Year ended
	December 31, 2021
Decrease to depreciation expense	$	1,232
Decrease to amortization expense	$	2,688
Increase to net income	$	3,920
Increase to net income per share	$	0.04

Schedule of Property and Equipment Useful Lives

Depreciation has been computed using the straight-line method over the following estimated useful lives:


			Years
Gaming terminals and equipment			13
Amusement and other equipment			7
Office equipment and furniture			7
Computer equipment and software			3-5
Leasehold improvements			5
Vehicles			5
Buildings and improvements			15-29

Property and equipment consists of the following at December 31 (in thousands):


	2021		2020
Gaming terminals and equipment	$	225,692	$	197,533
Amusement and other equipment	18,547		23,049
Office equipment and furniture	1,731		1,526
Computer equipment and software	14,319		12,793
Leasehold improvements	4,127		1,707
Vehicles	11,518		9,430
Buildings and improvements	10,997		10,845
Land	911		911
Construction in progress	3,898		1,886
Total property and equipment	291,740		259,680
Less accumulated depreciation and amortization	(139,489)		(116,115)
Property and equipment, net	$	152,251	$	143,565

Reverse Recapitalization (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Cash Proceeds from Reverse Capitalization

In accounting for the reverse recapitalization, the net equity deficit from the reverse recapitalization was $68.4 million as shown in the table below (in thousands):


	Amount
TPG Holdings Corp cash balance, November 19, 2019	$	429,952
Less redemption of Accel shares prior to reverse recapitalization	(413,733)
Cash balance prior to backstop equity financing	16,219
Plus funds from Investment Private Placement	48,038
Cash balance prior to consummation of the reverse recapitalization	64,257
Less adjustments to equity infusion:
Payment for sponsor loan	(4,000)
Less impact from issuance of contingent earnout shares	(51,641)
Less impact from issuance of warrants	(45,993)
Transaction costs related to the reverse recapitalization, net of tax	(31,006)
Net equity deficit prior to stock issuance	(68,383)
Impact of stock issued in reverse recapitalization	10
Net equity deficit from reverse recapitalization	(68,373)
Less impact from conversion of treasury stock and issuance of warrants	(7,414)
Net impact to additional paid-in-capital from reverse recapitalization	$	(75,787)

Schedule of Reverse Capitalization, Equity Interest Issued or Issuable


Accel Capital Stock - pre reverse recapitalization						Number of Shares
Class A Common Stock						472,773
Class B Common Stock						662,228
Class C Preferred Stock						1,530,779
Class D Preferred Stock						944,925

Total Shares of Accel Stock on November 20, 2019						3,610,705
Exchange ratio						17.188531
Effect of exchange ratio to convert Accel stock to A-1 Common Stock						62,062,715
Shares issued in reverse recapitalization						14,574,755
Total A-1 Common Stock						76,637,470

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Depreciation has been computed using the straight-line method over the following estimated useful lives:


			Years
Gaming terminals and equipment			13
Amusement and other equipment			7
Office equipment and furniture			7
Computer equipment and software			3-5
Leasehold improvements			5
Vehicles			5
Buildings and improvements			15-29

Property and equipment consists of the following at December 31 (in thousands):


	2021		2020
Gaming terminals and equipment	$	225,692	$	197,533
Amusement and other equipment	18,547		23,049
Office equipment and furniture	1,731		1,526
Computer equipment and software	14,319		12,793
Leasehold improvements	4,127		1,707
Vehicles	11,518		9,430
Buildings and improvements	10,997		10,845
Land	911		911
Construction in progress	3,898		1,886
Total property and equipment	291,740		259,680
Less accumulated depreciation and amortization	(139,489)		(116,115)
Property and equipment, net	$	152,251	$	143,565

Route and Customer Acquisition Costs (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Route and Customer Acquisition Costs

Route and customer acquisition costs consist of the following at December 31 (in thousands):


	2021		2020
Cost	$	28,902	$	27,364
Accumulated amortization	(12,989)		(12,113)
Route and customer acquisition costs, net	$	15,913	$	15,251

Location Contracts Acquired (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Location Contracts Acquired

Location contracts acquired consist of the following at December 31 (in thousands):


	2021		2020
Cost	$	229,287	$	226,012
Accumulated amortization	(78,615)		(58,278)
Location contracts acquired, net	$	150,672	$	167,734

Schedule of Future Amortization Expense

Estimated amortization expense related to location contracts acquired for the next five years and thereafter is as follows:


Year ending December 31:
2022	$	13,151
2023	13,151
2024	13,151
2025	13,151
2026	13,006
Thereafter	85,062
Total	$	150,672

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following is a roll forward of the Company's goodwill (in thousands):




Goodwill balance as of January 1, 2020	$	34,511
Addition to goodwill for acquisition of AVG	11,243
Goodwill balance as of December 31, 2020	$	45,754
Addition to goodwill for acquisition of Rich and Junnie's	445
Goodwill balance as of December 31, 2021	$	46,199

Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The Company’s debt as of December 31, consisted of the following (in thousands):


	2021		2020
Senior Secured Credit Facility (as amended):
Revolving credit facility	$	—	$	—
Term Loan	350,000		228,000
Delayed Draw Term Loan (DDTL)	—		119,562
Total debt	350,000		347,562
Less: Debt issuance costs	(8,478)		(7,421)
Total debt, net of debt issuance costs	341,522		340,141
Less: Current maturities	(17,500)		(18,250)
Total debt, net of current maturities	$	324,022	$	321,891

Schedule of Maturities of Long-term Debt

The principal maturities of long-term debt as of December 31, 2021 are as follows (in thousands):


Year ending December 31:
2022	$	17,500
2023	17,500
2024	17,500
2025	17,500
2026	280,000
Total debt	$	350,000

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying value and estimated fair value the Company's debt at December 31, was as follows (in thousands):


	2021		2020
Carrying value	$	350,000	$	340,141
Estimated fair value	331,122		309,528

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Business and Asset Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Consideration Transferred and Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of consideration transferred and the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	30,522
Fair value of contingent consideration	1,506
Total consideration	$	32,028
Cash	$	504
Location contracts acquired	17,500
Property and equipment:
Video game terminals and equipment	2,479
Amusement and other equipment	207
Vehicles	43
Other assets, net	63
Goodwill	11,243
Total assets acquired	32,039
Accrued expenses assumed	(11)
Net assets acquired	$	32,028

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):



Cash paid	$	106,578
Contingent consideration	7,136
Total consideration	$	113,714
Cash	$	8,861
Location contracts acquired	53,200
Property and equipment:
Video game terminals and equipment	18,000
Land	28
Buildings	548
Vehicles	600
Goodwill	34,511
Total assets acquired	115,748
Accounts payable assumed	(532)
Accrued expenses assumed	(1,502)
Net assets acquired	$	113,714

Schedule of Unaudited Pro Forma Results

This unaudited pro forma information for the years ended December 31, does not project revenues and income before income tax expense post acquisition (in thousands).


	2021		2020		2019
Revenues	$	738,295	$	327,090	$	466,466
Net income	31,812		(626)		(33,498)

Schedule of Consideration Payable

Current and long-term portions of consideration payable consist of the following at December 31 (in thousands):


	2021				2020
	Current		Long-Term		Current		Long-Term
TAV*	$	490	$	2,858	$	490	$	3,206

Fair Share Gaming*	1,875		508		1,096		523
Family Amusement*	677		1,944		391		2,609
Skyhigh*	801		7,396		601		5,789
G3*	414		—		355		100
Grand River Jackpot	6,479		—		—		5,755
IGS	—		—		80		—
Island	100		—		—		—
Tom's Amusements	1,491		—		—		1,455
Rich and Junnie's	646		—		—		—
AVG	371		—		—		1,506
Total	$	13,344	$	12,706	$	3,013	$	20,943

•Acquisitions that occurred prior to 2019.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets Measured on Recurring Basis

The following tables summarize the Company’s assets that are measured at fair value on a recurring basis (in thousands):


			Fair Value Measurement at Reporting Date Using
	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Assets:
Investment in convertible notes	$	32,065	$	—		$	32,065


			Fair Value Measurement at Reporting Date Using
	December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Investment in convertible notes (1)	$	31,266	$	—	$	—	$	31,266

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for assets for the year ended December 31 (in thousands):


	2021		2020
Assets:

Beginning of year balance	$	31,266	$	30,234
Accrued interest	928		903
Fair value adjustments	(129)		129

Ending balance	$	32,065	$	31,266

Schedule of Liabilities Measured on a Recurring Basis

The following tables summarizes the Company’s liabilities that are measured at fair value on a recurring basis (in thousands):


			Fair Value Measurement at Reporting Date Using
	December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Contingent consideration	$	19,434	$	—	$	—	$	19,434
Contingent earnout shares	42,831		—		42,831		—
Warrants	13		—		13		—
Total	$	62,278	$	—	$	42,844	$	19,434


			Fair Value Measurement at Reporting Date Using
	December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Contingent consideration	$	17,260	$	—	$	—	$	17,260
Contingent earnout shares	33,069		—		33,069		—
Warrants	13		—		13		—
Total	$	50,342	$	—	$	33,082	$	17,260

Schedule of Changes in Level 3 Instruments

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for liabilities for the years ended December 31 (in thousands):


	2021		2020		2019
Liabilities:

Beginning of year balance	$	17,260	$	17,327	$	6,782
Issuance of contingent consideration in connection with acquisitions	105		3,245		7,216
Payment of contingent consideration	(4,358)		(4,420)		(1,658)


Fair value adjustments	6,427		1,108		4,987
Ending balance	$	19,434	$	17,260	$	17,327

Stockholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Stock Reserved for Issuance

At December 31, 2021 and 2020, the Company has reserved Class A-1 Common Stock for future issuance in relation to the following:


	2021	2020
Class A-1 Common Stock warrants issued and outstanding	5,411	5,411
Class A-1 Common Stock options and RSUs issued and outstanding	3,150,215	3,885,360
Conversion of Class A-2 Common Stock	3,333,363	3,333,363
Class A-1 Common Stock reserved for issuance	6,488,989	7,224,134

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Assumptions for Options Granted

The following assumptions were used in the option valuation model for options granted during the years ended December 31, are as follows:


	2021	2020	2019 *
Expected approximate volatility	60%	38%	—%
Expected dividends	None	None	None
Expected term (in years)	7	7	None
Risk-free rate	0.72% -1.17%	0.44% - 1.19%	—%

* there were no options granted in 2019

Schedule of Options Granted and Range in Vesting Periods

A summary of the options granted and the range in vesting periods based on specific provisions within the option agreements during the years ended December 31, are as follows:


	2021	2020	2019 *
Options granted	262,097	1,449,779	0
Vesting period (in years)	4	4 - 5	0

Schedule of Vested Stock Options

The following table sets forth the activities of the Company’s outstanding stock options for the years ended December 31, 2021, 2020 and 2019.


Outstanding options	Shares	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price
Outstanding at January 1, 2019	3,832,424	$	0.73	$	2.16
Granted	—	—		—
Exercised	(2,590,274)	0.62		1.84
Forfeited/expired	(13,751)	0.77		2.33
Outstanding at December 31, 2019	1,228,399	0.96		2.91
Granted	1,449,779	4.49		11.20
Exercised	(359,987)	0.69		2.33
Forfeited/expired	(68,580)	1.32		3.85
Outstanding at December 31, 2020	2,249,611	3.25		8.32
Granted	262,097	6.90		11.75
Exercised	(577,719)	0.96		2.95
Forfeited/expired	(377,503)	4.08		10.03
Outstanding at December 31, 2021	1,556,486	4.51		10.47

Schedule of Nonvested Stock Options

A summary of the status of the activities of the Company’s nonvested stock options for the years ended December 31, 2021, 2020 and 2019 is as follows.


Nonvested options	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019	1,709,589	$	0.82
Granted	—	—
Vested	(547,537)	0.85
Forfeited	(13,751)	0.77
Nonvested at December 31, 2019	1,148,301	0.95
Granted	1,449,779	4.49
Vested	(496,464)	0.08
Forfeited	(68,580)	1.32
Nonvested at December 31, 2020	2,033,036	3.49
Granted	262,097	6.90
Vested	(506,299)	1.23
Forfeited	(377,503)	4.08
Nonvested at December 31, 2021	1,411,331	4.77

Schedule of Nonvested Restricted Stock Units Activity

The following table sets forth the activities of the Company’s RSUs for the years ended December 31, 2021 and 2020. There were no RSUs granted prior to 2020.


Non-vested RSUs	Shares	Weighted Average Grant Date Fair Value
Nonvested at January 1, 2020	—	$	—
Granted	1,665,968	11.16
Vested	(4,960)	10.08
Forfeited	(25,259)	11.66
Nonvested at December 31, 2020	1,635,749	11.15
Granted	558,193	11.96
Vested (1)	(343,579)	10.82
Forfeited	(256,634)	10.87
Nonvested at December 31, 2021	1,593,729	11.55

(1) Includes 154,641 RSUs that are vested and issued.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense


	2021		2020		2019
Current provision
Federal	$	1,489	$	—	$	(85)
State	7,418		—		43
Total current provision	8,907		—		(42)
Deferred provision
Federal	8,363		(12,286)		3,740
State	(2,253)		(4,632)		1,501
Total deferred provision	6,110		(16,918)		5,241
Total income tax expense (benefit)	$	15,017	$	(16,918)	$	5,199

Schedule of Reconciliation of Expected Income Taxes

A reconciliation of the “expected” income taxes computed by applying the federal statutory income tax rate to the total expense (benefit) is as follows (in thousands):


	2021		2020		2019
Computed “expected” tax expense (benefit)	$	9,781	$	(3,639)	$	(6,629)
Increase (decrease) in income taxes resulting from:
State income taxes	3,659		(2,848)		1,634
Return-to-provision	(258)		(7,613)		(340)
Change in fair value of contingent earnout shares	2,050		(1,782)		2,066
Change in fair value of warrants	—		(2,640)		4,423
Permanently non-deductible transaction costs	215		485		2,079
Officer's compensation	23		—		1,991
Other permanent items	18		220		(16)
Enacted rate change	(28)		(6)		—
Other	(442)		905		(9)
Total income tax expense (benefit)	$	15,017	$	(16,918)	$	5,199

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities were as follows at December 31 (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	20,934	$	31,215
Location contracts and other intangibles	8,150		5,829
Stock-based compensation	2,513		1,428
Other	2,107		394
	33,704		38,866
Deferred tax liabilities:
Property and equipment	35,952		35,005
Unrealized gain on investments in convertible notes	—		37
	35,952		35,042

Total deferred tax (liability) asset, net	$	(2,248)	$	3,824

Schedule of Carryforwards of Net Operating Losses

The following table summarizes carryforwards of net operating losses as of December 31 (in thousands):


	2021			2020
	Amount		Expiration	Amount		Expiration
Federal net operating losses	$	61,514	Indefinite	$	108,830	2033
State net operating losses	106,810		2030	106,004		2030

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Operating Lease Liability Maturity

Future minimum payments under these leases are as follows for the years ending December 31 (in thousands):


2022	$	671
2023	525
2024	314
2025	133
2026	135
Thereafter	91
Total	$	1,869

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted EPS

The components of basic and diluted EPS were as follows (in thousands, except per share amounts):


	2021		2020		2019
Net income (loss)	$	31,559	$	(410)	$	(36,764)
Less: Net income applicable to contingently issuable shares	—		909		—
Net income (loss) on which diluted earnings per share is calculated	$	31,559	$	(1,319)	$	(36,764)

Basic weighted average outstanding shares of common stock	93,781		83,045		61,848
Dilutive effect of stock-based awards for common stock	857		—		—
Dilutive effect of contingent earnout shares before conversion	—		68		—


Diluted weighted average outstanding shares of common stock	94,638		83,113		61,848

Earnings (loss) per share:
Basic	$	0.34	$	—	$	(0.59)
Diluted	$	0.33	$	(0.02)	$	(0.59)

Description of Business (Details) $ in Thousands	12 Months Ended
Description of Business (Details) $ in Thousands	Dec. 31, 2021 USD ($) gaming_terminal location	Dec. 31, 2020 USD ($) gaming_terminal location day	Dec. 31, 2019 USD ($)
Unusual or Infrequent Item, or Both [Line Items]
Number of video gaming terminals \| gaming_terminal	13,639	12,247
Number of video gaming locations \| location	2,584	2,435
Number of days video gaming terminals inoperable (in days) \| day		148
Number of video gaming days in year (in days) \| day		365
Percent of days inoperable during quarter (as a percent)		40.00%
Cash payment for asset acquisition	$ 29,753	$ 25,761	$ 20,796
Other operating expenses	$ 12,989	8,948	$ 19,649
COVID-19
Unusual or Infrequent Item, or Both [Line Items]
Other nonrecurring expense, net		1,200
Other nonrecurring expense		2,500
Other nonrecurring expense, recoveries		1,300
Cash payment for asset acquisition		2,000
Other operating expenses		$ 800

Summary of Significant Accounting Policies - Adopted accounting pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity (deficit)	$ 158,461	$ 127,871	$ (43,010)	$ 57,118
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity (deficit)				$ 2,596
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Average life of contract (in years)				12 years 4 months 24 days
Accounting Standards Update 2014-09 \| Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity (deficit)				$ 2,600

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
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+ Details

Summary of Significant Accounting Policies - Change in estimate (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2021
Service life
Change in Accounting Estimate [Line Items]
Decrease to depreciation expense			$ 1,232
Decrease to amortization expense			2,688
Increase to net income			$ 3,920
Increase to income per share/decrease to loss per share (in usd per share)			$ 0.04
Customer Acquisition Costs
Change in Accounting Estimate [Line Items]
Useful life (in years)	18 years	12 years 4 months 24 days
Location Contracts \| Minimum
Change in Accounting Estimate [Line Items]
Useful life (in years)	10 years
Location Contracts \| Maximum
Change in Accounting Estimate [Line Items]
Useful life (in years)	15 years
Gaming terminals and equipment
Change in Accounting Estimate [Line Items]
Useful life (in years)			13 years
Gaming terminals and equipment \| Service life
Change in Accounting Estimate [Line Items]
Useful life (in years)	13 years	10 years

Summary of Significant Accounting Policies - Schedule of property and equipment useful lives (Details)	12 Months Ended
	Dec. 31, 2021
Gaming terminals and equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	13 years
Amusement and other equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Useful life (in years)	7 years
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Vehicles
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	15 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	29 years

Summary of Significant Accounting Policies - Route and customer acquisition costs (Details)	12 Months Ended
	Dec. 31, 2021
Change in Accounting Estimate [Line Items]
Expected useful life (in years)	15 years
Customer Acquisition Costs
Change in Accounting Estimate [Line Items]
Expected useful life (in years)	18 years

Summary of Significant Accounting Policies - Location contracts acquired (Details)	12 Months Ended
	Dec. 31, 2021
Change in Accounting Estimate [Line Items]
Expected useful life (in years)	15 years
Location Contracts
Change in Accounting Estimate [Line Items]
Expected useful life (in years)	15 years

Summary of Significant Accounting Policies - Advertising costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Advertising costs	$ 4.8	$ 3.2	$ 3.0

Reverse Recapitalization - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Sep. 28, 2020	Nov. 20, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 21, 2019	Nov. 19, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Sale of stock (in usd per share)		$ 10.30
Percent of shareholder cash election on stock issuable (as a percent)		70.00%
Number of shares repurchased (in shares)		36,157
Repurchase price (in usd per share)		$ 177
Shares outstanding (in shares)		3,610,705
Common Stock
Business Acquisition [Line Items]
Shares issued (in shares)			93,410,563	93,379,508	76,637,470			58,491,281
Class A-2 Common Stock \| Common Stock
Business Acquisition [Line Items]
Shares outstanding (in shares)						4,999,999
Shares issued (in shares)						4,999,999	5,000,000
Class A-1 Common Stock
Business Acquisition [Line Items]
Common stock issued	$ 79.2
Class A-1 Common Stock \| Common Stock
Business Acquisition [Line Items]
Shares outstanding (in shares)						76,637,470
Shares issued (in shares)						76,637,470
Class A-1 Common Stock \| Warrants
Business Acquisition [Line Items]
Shares outstanding (in shares)						22,333,308
Shares issued (in shares)						22,333,308
Class A-1 Common Stock \| Investment Private Placement
Business Acquisition [Line Items]
Sale of stock (in usd per share)		$ 10.22
Sale of common stock, shares issued (in shares)		4,696,675
Common stock issued		$ 48.0
Warrants
Business Acquisition [Line Items]
Number of shares acquired (in shares)		4,888,889
Common Stock \| Class A-2 Common Stock
Business Acquisition [Line Items]
Number of shares acquired (in shares)		2,000,000
Common Stock \| Class A-1 Common Stock
Business Acquisition [Line Items]
Number of shares acquired (in shares)		7,500,000
Accel
Business Acquisition [Line Items]
Purchase price (in usd per share)		$ 177
Accel \| Warrants
Business Acquisition [Line Items]
Cash election (in shares)			2,444,444
Accel \| Common Stock \| Class A-2 Common Stock
Business Acquisition [Line Items]
Cash election (in shares)			3,000,000

Reverse Recapitalization - Schedule of Proceeds from Reverse Capitalization (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 20, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination and Asset Acquisition [Abstract]
Cash balance	$ 429,952	$ 134,451
Less redemption of Accel shares prior to reverse recapitalization	(413,733)
Cash balance prior to backstop equity financing	16,219
Plus funds from Investment Private Placement	48,038
Cash balance	64,257	198,786	$ 134,451
Payment for sponsor loan	(4,000)
Less impact from issuance of contingent earnout shares	(51,641)
Less impact from issuance of warrants	(45,993)
Transaction costs related to the reverse recapitalization, net of tax	(31,006)
Net equity deficit prior to stock issuance	(68,383)			$ (68,373)
Impact of stock issued in reverse recapitalization	10	0	90,422	0
Net equity deficit from reverse recapitalization	(68,373)
Less impact from conversion of treasury stock and issuance of warrants	(7,414)	$ 0	$ (19,924)	$ 0
Net impact to additional paid-in-capital from reverse recapitalization	$ (75,787)

Reverse Recapitalization - Schedule of Equity Interests Issued from Reverse Capitalization (Details)	Nov. 20, 2019 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	3,610,705
Exchange ratio	17.188531
Common stock outstanding (in shares)		93,410,563	93,379,508
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	472,773
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	662,228
Class C Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	1,530,779
Class D Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	944,925
Class A-1 Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Effect of exchange ratio to convert Accel stock to A-1 Common Stock (in shares)	62,062,715
Shares issued in reverse recapitalization (in shares)	14,574,755
Common stock outstanding (in shares)	76,637,470

Investment in Convertible Notes (Details) - USD ($)			12 Months Ended
Investment in Convertible Notes (Details) - USD ($)	Oct. 11, 2019	Jul. 19, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 09, 2021	Jul. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Monthly installment receivable	$ 1,000,000
Unrealized gain (loss) on investments in convertible notes			$ (93,000)	$ 93,000	$ 0
Convertible Promissory Notes
Debt Securities, Available-for-sale [Line Items]
Investment purchase (up to)	$ 25,000,000	$ 30,000,000	$ 32,100,000			$ 25,000,000	$ 25,000,000
Investment interest rate (as a percent)		3.00%
Investment maturity (in months)		6 months
Convertible Promissory Notes \| Subordinated Debt
Debt Securities, Available-for-sale [Line Items]
Investment purchase (up to)		$ 5,000,000				$ 5,000,000	$ 5,000,000

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 291,740	$ 259,680
Less accumulated depreciation and amortization	(139,489)	(116,115)
Property and equipment, net	152,251	143,565
Depreciation	24,636	20,969	$ 26,398
Gaming terminals and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	225,692	197,533
Amusement and other equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	18,547	23,049
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Total property and equipment	1,731	1,526
Computer equipment and software
Property, Plant and Equipment [Line Items]
Total property and equipment	14,319	12,793
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	4,127	1,707
Vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment	11,518	9,430
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	10,997	10,845
Land
Property, Plant and Equipment [Line Items]
Total property and equipment	911	911
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,898	$ 1,886

Route and Customer Acquisition Costs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross payments due	$ 6,800		$ 6,800	$ 6,400
Net present value of payments due	6,000		6,000	5,700
Current portion of payments due	2,079		2,079	1,608
Customer acquisition cost asset	18,000		18,000	17,700
Capitalized contract cost, subject to claw back	$ 1,500		1,500	1,700
Amortization expense (decrease in expense) on route and customer acquisition costs			$ 1,700	$ 1,800	$ 1,700
Customer Acquisition Costs
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	18 years	12 years 4 months 24 days

Route and Customer Acquisition Costs - Schedule of Customer Contract Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Cost	$ 28,902	$ 27,364
Accumulated amortization	(12,989)	(12,113)
Route and customer acquisition costs, net	$ 15,913	$ 15,251

Location Contracts Acquired - Schedule of Customer Contract Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Cost	$ 229,287	$ 226,012
Accumulated amortization	(78,615)	(58,278)
Location contracts acquired, net	$ 150,672	$ 167,734

Location Contracts Acquired - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Expected useful life (in years)		15 years
Location Contracts
Finite-Lived Intangible Assets [Line Items]
Expected useful life (in years)		15 years
Minimum \| Location Contracts
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	10 years
Maximum \| Location Contracts
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	15 years
Location contract
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 20.3	$ 20.8	$ 16.2

Location Contracts Acquired - Schedule of Finite-Lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 13,151
2023	13,151
2024	13,151
2025	13,151
2026	13,006
Thereafter	85,062
Location contracts acquired, net	$ 150,672	$ 167,734

Goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Goodwill - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 30, 2020	Dec. 31, 2019
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 46,199	$ 45,754		$ 34,511
Tax exempt portion of goodwill	37,200
Addition to goodwill for acquisition	$ 445	11,243
AVG
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill			$ 11,243
Addition to goodwill for acquisition		$ 11,200

Goodwill - Schedule of changes in Goodwill, Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Beginning balance	$ 45,754	$ 34,511
Addition to goodwill for acquisition	445	11,243
Ending balance	$ 46,199	$ 45,754

Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total debt	$ 350,000	$ 347,562
Less: Debt issuance costs	(8,478)	(7,421)
Total debt, net of debt issuance costs	341,522	340,141
Less: Current maturities	(17,500)	(18,250)
Total debt, net of current maturities	324,022	321,891
Credit Agreement, Amendment 1 \| Revolving credit facility
Debt Instrument [Line Items]
Total debt	0	0
Credit Agreement, Amendment 1 \| Term Loan
Debt Instrument [Line Items]
Total debt	350,000	228,000
Credit Agreement, Amendment 1 \| Delayed Draw Term Loan (DDTL)
Debt Instrument [Line Items]
Total debt	$ 0	$ 119,562

Debt - Narrative (Details) - USD ($)	12 Months Ended
Debt - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 22, 2021	Oct. 21, 2021	Nov. 13, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ 8,478,000	$ 7,421,000
Loss on debt extinguishment	1,152,000	0	$ 1,141,000
Long term debt	350,000,000	347,562,000
Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Debt issuance costs	8,800,000
Remaining availability	$ 550,000,000.0
Ratio of consolidated net debt to EBITDA (no greater than)	4.50
Ratio of consolidated EBITDA to fixed charges (no less than)	1.20
Credit Agreement, Amendment 1 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.75%
Debt instrument, floor interest rate	0.50%
Credit Agreement, Amendment 1 \| Alternative Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.75%
Debt instrument, floor interest rate	1.50%
New Credit Facility Amendment
Debt Instrument [Line Items]
Fees associated with amendment of credit agreement	$ 400,000
Unamortized debt issuance costs	$ 300,000
New Credit Facility Amendment \| LIBOR
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate, minimum percent (as a percent)	0.50%
New Credit Facility Amendment \| Alternative Base Rate
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate, minimum percent (as a percent)	1.50%
Credit Agreement, Amendment 2
Debt Instrument [Line Items]
Debt issuance costs	$ 4,300,000
Loss on debt extinguishment	$ 1,200,000
Prior Credit Facility
Debt Instrument [Line Items]
Loss on debt extinguishment			$ 1,100,000
Revolving credit facility \| Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 100,000,000
Weighted average interest rate (as a percent)	3.20%
Long term debt	$ 0	0
Revolving credit facility \| Credit Agreement, Amendment 1 \| LIBOR
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate, minimum percent (as a percent)	0.50%
Basis spread on variable rate (as a percent)	1.00%
Revolving credit facility \| Credit Agreement, Amendment 1 \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.50%
Revolving credit facility \| Credit Agreement, Amendment 2
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 150,000,000	$ 100,000,000
Revolving credit facility \| Prior Credit Facility
Debt Instrument [Line Items]
Long term debt	$ 85,000,000.0
Letter of Credit \| Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Maximum borrowing capacity						10,000,000
Swing Line Facility \| Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Maximum borrowing capacity						10,000,000
Swing Line Facility \| Prior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000,000.0
Term Loan \| Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Face amount						240,000,000
Additional term loan repayment rate (as a percent)	5.00%
Long term debt	$ 350,000,000	$ 228,000,000
Term Loan \| Credit Agreement, Amendment 2
Debt Instrument [Line Items]
Face amount				350,000,000
Additional Term Loan Facility \| Credit Agreement, Amendment 1
Debt Instrument [Line Items]
Face amount						$ 125,000,000
Additional Term Loan Facility \| Credit Agreement, Amendment 2
Debt Instrument [Line Items]
Face amount				$ 400,000,000
Additional Term Loan Facility \| Prior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	125,000,000.0
Contract Draw Loan \| Prior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 170,000,000.0

Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 17,500
2023	17,500
2024	17,500
2025	17,500
2026	280,000
Total debt	$ 350,000	$ 347,562

Debt - Schedule of Carrying Value and Estimated Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Carrying value
Debt Instrument [Line Items]
Debt	$ 350,000	$ 340,141
Estimated fair value
Debt Instrument [Line Items]
Debt	$ 331,122	$ 309,528

Business and Asset Acquisitions - Narrative (Details) shares in Thousands, $ in Thousands									12 Months Ended
	Dec. 30, 2021 USD ($)	May 20, 2021 USD ($) location terminal	Mar. 02, 2021 USD ($) gaming_terminal location shares	Dec. 30, 2020 USD ($) gaming_terminal location installment_payment	Aug. 06, 2020 USD ($) location	Jul. 22, 2020 USD ($)	Sep. 23, 2019 USD ($) gaming_terminal location	Sep. 16, 2019 USD ($) gaming_terminal location installment_payment	Dec. 31, 2021 USD ($) gaming_terminal location	Dec. 31, 2020 USD ($) gaming_terminal location	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Number of video gaming locations \| location									2,584	2,435
Number of video gaming terminals \| gaming_terminal									13,639	12,247
Cash purchase price									$ 6,196	$ 35,769	$ 100,857
Current portion of consideration payable									13,344	3,013
Goodwill									46,199	45,754	34,511
Contingent consideration									1,400
Revenues									738,295	327,090	466,466
Net income									31,812	(626)	(33,498)
Payments on consideration payable									2,792	5,448	2,321
Remeasurement of contingent consideration									4,347	(584)	6,723
Illinois Operators Inc
Business Acquisition [Line Items]
Number of video gaming locations \| location					13
Asset acquisition, consideration transferred					$ 4,000
Cash payment for asset acquisition					3,700
Asset acquisition, notes payable assumed					300
Video game terminals and equipment acquired					600
Location contracts acquired					$ 3,400
IGS
Business Acquisition [Line Items]
Number of video gaming locations \| location							29
Number of video gaming terminals \| gaming_terminal							139
Cash payment for asset acquisition							$ 2,400
Video game terminals and equipment acquired							1,700
Location contracts acquired							3,000
Note payable							$ 2,300
IGS \| Notes Payable
Business Acquisition [Line Items]
Interest rate (as a percent)							5.00%
AVG \| Consideration Payable to Previous Sellers in Business Acquisitions \| Employee
Business Acquisition [Line Items]
Contingent consideration liability									400	1,500
Payments on consideration payable									2,300	0
Century
Business Acquisition [Line Items]
Number of video gaming locations \| location			900
Number of video gaming terminals \| gaming_terminal			8,500
Total consideration			$ 140,000
Cash election (in shares) \| shares			450
Island
Business Acquisition [Line Items]
Total consideration		$ 2,900
Number of COAM locations acquired \| location		30
Number of COAM terminals acquired \| terminal		89
Cash purchase price		$ 2,800
Contingent consideration liability		$ 100
Current portion of consideration payable									100	0
Rich and Junnie's
Business Acquisition [Line Items]
Total consideration	$ 4,200
Cash purchase price	3,600
Current portion of consideration payable	600								646	0
Business combination, equipment acquired	300
Location contracts acquired	1,600
Cash	600
Goodwill	400
Rich and Junnie's \| Amusement and other equipment
Business Acquisition [Line Items]
Property and equipment:	$ 1,300
Tom's Amusements
Business Acquisition [Line Items]
Total consideration						$ 3,600
Cash purchase price						2,100
Contingent consideration liability						1,500
Current portion of consideration payable									1,491	0
Business combination, equipment acquired						1,600
Location contracts acquired						800
Cash						$ 200
Business combination, contingent consideration arrangement, first installment term (in months)						18 months
Business combination, contingent consideration arrangement, second installment term (in months)						24 months
Business combination, contingent consideration arrangement, installment						$ 750
Indefinite-lived gaming license intangible assets acquired						$ 1,000
Revenues										1,400
Net income										(800)
AVG
Business Acquisition [Line Items]
Number of video gaming locations \| location				49
Number of video gaming terminals \| gaming_terminal				267
Total consideration				$ 32,028
Current portion of consideration payable									371	0
Location contracts acquired				17,500
Cash				504
Goodwill				11,243
Cash payment, before additional payment for working capital adjustment				30,522
Contingent consideration				$ 1,506
Number of installment payments \| installment_payment				2
AVG \| Contingent Consideration, Installment One
Business Acquisition [Line Items]
Location contracts acquired				$ 900
AVG \| Contingent Consideration, Installment Two
Business Acquisition [Line Items]
Location contracts acquired				1,400
AVG \| Amusement and other equipment
Business Acquisition [Line Items]
Property and equipment:				$ 207
Grand River Jackpot
Business Acquisition [Line Items]
Number of video gaming locations \| location								450
Number of video gaming terminals \| gaming_terminal								2,009
Total consideration								$ 113,714
Current portion of consideration payable									$ 6,479	0
Location contracts acquired								53,200
Cash								8,861
Goodwill								34,511
Revenues											16,600
Net income											1,200
Cash payment, before additional payment for working capital adjustment								100,000
Contingent consideration								$ 7,136
Number of installment payments \| installment_payment								2
Payments to acquire businesses, gross, working capital adjustment								$ 6,600
Acquisition related costs											$ 200
Grand River Jackpot \| Contingent Consideration, Installment One
Business Acquisition [Line Items]
Business combination, contingent consideration arrangement, first installment term (in months)								1 year
Maximum amount to be paid for contingent consideration								$ (2,500)
Grand River Jackpot \| Contingent Consideration, Installment One \| COVID-19
Business Acquisition [Line Items]
Remeasurement of contingent consideration										$ 2,500
Grand River Jackpot \| Contingent Consideration, Installment Two
Business Acquisition [Line Items]
Business combination, contingent consideration arrangement, second installment term (in months)								3 years
Maximum amount to be paid for contingent consideration								$ (7,000)

Business and Asset Acquisitions - Schedule of Consideration Transferred - AVG (Details) - USD ($) $ in Thousands	Dec. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 46,199	$ 45,754	$ 34,511
AVG
Business Acquisition [Line Items]
Cash paid	$ 30,522
Fair value of contingent consideration	1,506
Total consideration	32,028
Cash	504
Location contracts acquired	17,500
Other assets, net	63
Goodwill	11,243
Total assets acquired	32,039
Accrued expenses assumed	(11)
Net assets acquired	32,028
AVG \| Gaming terminals and equipment
Business Acquisition [Line Items]
Property and equipment:	2,479
AVG \| Amusement and other equipment
Business Acquisition [Line Items]
Property and equipment:	207
AVG \| Vehicles
Business Acquisition [Line Items]
Property and equipment:	$ 43

Business and Asset Acquisitions - Schedule of Consideration Transferred - Grand River Jackpot (Details) - USD ($) $ in Thousands	Sep. 16, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 46,199	$ 45,754	$ 34,511
Grand River Jackpot
Business Acquisition [Line Items]
Cash paid	$ 106,578
Contingent consideration	7,136
Total consideration	113,714
Cash	8,861
Location contracts acquired	53,200
Goodwill	34,511
Total assets acquired	115,748
Accounts payable assumed	(532)
Accrued expenses assumed	(1,502)
Net assets acquired	113,714
Grand River Jackpot \| Gaming terminals and equipment
Business Acquisition [Line Items]
Property and equipment:	18,000
Grand River Jackpot \| Land
Business Acquisition [Line Items]
Property and equipment:	28
Grand River Jackpot \| Buildings
Business Acquisition [Line Items]
Property and equipment:	548
Grand River Jackpot \| Vehicles
Business Acquisition [Line Items]
Property and equipment:	$ 600

Business and Asset Acquisitions - Schedule of Unaudited Pro Forma Results (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Combination and Asset Acquisition [Abstract]
Revenues	$ 738,295	$ 327,090	$ 466,466
Net income	$ 31,812	$ (626)	$ (33,498)

Business and Asset Acquisitions - Schedule of Consideration Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Current	$ 13,344		$ 3,013
Long-Term	12,706		20,943
TAV
Business Acquisition [Line Items]
Current	490		490
Long-Term	2,858		3,206
Fair Share Gaming
Business Acquisition [Line Items]
Current	1,875		1,096
Long-Term	508		523
Family Amusement
Business Acquisition [Line Items]
Current	677		391
Long-Term	1,944		2,609
Skyhigh
Business Acquisition [Line Items]
Current	801		601
Long-Term	7,396		5,789
G3
Business Acquisition [Line Items]
Current	414		355
Long-Term	0		100
Grand River Jackpot
Business Acquisition [Line Items]
Current	6,479		0
Long-Term	0		5,755
IGS
Business Acquisition [Line Items]
Current	0		80
Long-Term	0		0
Island
Business Acquisition [Line Items]
Current	100		0
Long-Term	0		0
Tom's Amusements
Business Acquisition [Line Items]
Current	1,491		0
Long-Term	0		1,455
Rich and Junnie's
Business Acquisition [Line Items]
Current	646	$ 600	0
Long-Term	0		0
AVG
Business Acquisition [Line Items]
Current	371		0
Long-Term	$ 0		$ 1,506

Contingent Earnout Share Liability (Details) $ / shares in Units, $ in Millions	Nov. 20, 2019 USD ($) day tranche $ / shares shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares	Jan. 14, 2020 shares	Dec. 31, 2019 shares	Nov. 21, 2019 shares	Nov. 19, 2019 shares	Dec. 31, 2018 shares
Business Acquisition [Line Items]
Class A-1 Common Stock reserved for issuance (in shares)		6,488,989	7,224,134
Shareholders' Equity, Conversion Terms, Number Of Tranches \| tranche	3
Tranche I - EBITDA for last 12 months or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Maximum EBITDA before stock conversion \| $	$ 132
Maximum stock price of common stock before conversion (in usd per share) \| $ / shares	$ 12.00
Tranche II - LTM EBITDA or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Maximum EBITDA before stock conversion \| $	$ 152
Maximum stock price of common stock before conversion (in usd per share) \| $ / shares	$ 14.00
Tranche III - LTM EBITDA or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Maximum EBITDA before stock conversion \| $	$ 172
Maximum stock price of common stock before conversion (in usd per share) \| $ / shares	$ 16.00
Class A-2 Common Stock
Business Acquisition [Line Items]
Class A-1 Common Stock reserved for issuance (in shares)	10,000,000	3,333,363	3,333,363
Class A-2 Common Stock \| Tranche I - EBITDA for last 12 months or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Number of shares converted (in shares)	1,666,666
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Class A-2 Common Stock \| Tranche II - LTM EBITDA or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Number of shares converted (in shares)	1,666,667
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Class A-2 Common Stock \| Tranche III - LTM EBITDA or 20 trading days in consecutive 30 day trading period
Business Acquisition [Line Items]
Number of shares converted (in shares)	1,666,667			1,666,636
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Class A-1 Common Stock
Business Acquisition [Line Items]
Proportion of ownership requiring exchange (as a percent)	4.99%			4.99%
Common Stock
Business Acquisition [Line Items]
Shares issued (in shares)		93,410,563	93,379,508		76,637,470			58,491,281
Common Stock \| Class A-2 Common Stock
Business Acquisition [Line Items]
Shares issued (in shares)						4,999,999	5,000,000
Common Stock \| Class A-1 Common Stock
Business Acquisition [Line Items]
Shares issued (in shares)						76,637,470

Warrant Liability (Details)			12 Months Ended
Warrant Liability (Details)	Aug. 14, 2020 shares	Jul. 16, 2020 shares	Dec. 31, 2021 shares	Dec. 31, 2019 shares	Dec. 31, 2017 $ / shares shares	Jan. 31, 2013 $ / shares shares
Class of Warrant or Right [Line Items]
Warrants issued (in shares)			7,333,326		15,000,000	253,575
Warrants canceled and reissued to prior shareholders (in shares)			2,444,437
Term of warrants (in years)					5 years
Number of securities called by each warrant (in shares)					1
Warrant, exercise price (in usd per share) \| $ / shares					$ 11.50	$ 17.80
Warrants, subject to adjustments after consummation of reverse capitalization period (in days)			30 days		30 days
Exercise conversion rate of warrants (share per share)		0.25
Number of warrants exercised (in shares)	7,189,990
Percent of warrants outstanding	99.93%
Exercise of warrants (in shares)				190,575
Class A-1 Common Stock
Class of Warrant or Right [Line Items]
Conversion of stock, shares converted (in shares)		3,784,416
Exercise of warrants (in shares)	1,797,474

Fair Value Measurements - Schedule of Fair Value Measurements, Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Accrued interest		$ 1,100
Fair Value, Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in convertible notes	$ 32,065	31,266
Fair Value, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in convertible notes	0	0
Fair Value, Recurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in convertible notes		0
Fair Value, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investment in convertible notes	$ 32,065	$ 31,266

Fair Value Measurements - Schedule of Unobservable Input Asset Value Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 31,266	$ 30,234
Accrued interest	928	903
Fair value adjustments	(129)	129
Ending balance	$ 32,065	$ 31,266

Fair Value Measurements - Schedule of Fair Value Measurements, Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 1,400
Warrant and other long-term liabilities	17	$ 13
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	19,434	17,260
Contingent earnout shares	42,831	33,069
Warrant and other long-term liabilities	13	13
Total	62,278	50,342
Fair Value, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent earnout shares	0	0
Warrant and other long-term liabilities	0	0
Total	0	0
Fair Value, Recurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent earnout shares	42,831	33,069
Warrant and other long-term liabilities	13	13
Total	42,844	33,082
Fair Value, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	19,434	17,260
Contingent earnout shares	0	0
Warrant and other long-term liabilities	0	0
Total	$ 19,434	$ 17,260

Fair Value Measurements - Schedule of Fair Value Measurements, Contingent Considerations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of year balance	$ 17,260	$ 17,327	$ 6,782
Issuance of contingent consideration in connection with acquisitions	105	3,245	7,216
Payment of contingent consideration	(4,358)	(4,420)	(1,658)
Fair value adjustments	6,427	1,108	4,987
Ending balance	$ 19,434	$ 17,260	$ 17,327

Fair Value Measurements - Narrative (Details)	Jul. 16, 2020
Fair Value Disclosures [Abstract]
Exercise conversion rate of warrants (share per share)	0.25

Stockholders’ Equity - Narrative (Details) $ / shares in Units, $ in Thousands				1 Months Ended	12 Months Ended
	Sep. 28, 2020 USD ($) vote $ / shares shares	Sep. 23, 2020 USD ($) shares	Aug. 14, 2020 shares	Oct. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) shares	Nov. 22, 2021 USD ($)	Dec. 31, 2020 $ / shares shares	Nov. 20, 2019 $ / shares	Dec. 31, 2017 $ / shares shares	Jan. 31, 2013 $ / shares shares
Class of Warrant or Right [Line Items]
Common stock, par value (in usd per share) \| $ / shares					$ 0.0001			$ 0.0001
Preferred stock, authorized (in shares)					1,000,000			1,000,000
Common stock, shares authorized (in shares)					250,000,000			250,000,000
Sale of stock (in usd per share) \| $ / shares									$ 10.30
Sale of stock, aggregate issuance amount \| $		$ 84,000
Warrants issued (in shares)					7,333,326					15,000,000	253,575
Warrant, exercise price (in usd per share) \| $ / shares										$ 11.50	$ 17.80
Exercise of warrants (in shares)						190,575
Proceeds from issuance of stock warrants \| $						$ 3,400
Stock repurchase program, authorized amount (up to) \| $							$ 200,000
Repurchase of common stock (in shares)					(701,305)
Repurchase of common stock \| $					$ (8,983)
Public Stock Offering
Class of Warrant or Right [Line Items]
Sale of common stock, shares issued (in shares)		8,000,000
Over-Allotment Option
Class of Warrant or Right [Line Items]
Exercisable period of underwriting discount	30 days
Class A-1 Common Stock
Class of Warrant or Right [Line Items]
Common stock, par value (in usd per share) \| $ / shares	$ 0.0001
Common stock, shares authorized (in shares)					250,000,000
Common stock , voting rights, votes per share \| vote	1
Sale of stock, aggregate issuance amount \| $	$ 84,000
Sale of stock, consideration received on transaction \| $	$ 79,200
Exercise of warrants (in shares)			1,797,474
Class A-1 Common Stock \| Public Stock Offering
Class of Warrant or Right [Line Items]
Sale of common stock, shares issued (in shares)	8,000,000
Sale of stock (in usd per share) \| $ / shares	$ 10.50
Payments of stock issuance costs \| $	$ 5,300
Class A-1 Common Stock \| Over-Allotment Option
Class of Warrant or Right [Line Items]
Sale of common stock, shares issued (in shares)	1,200,000			1,133,015
Sale of stock (in usd per share) \| $ / shares	$ 10.50			$ 10.50
Sale of stock, consideration received on transaction \| $				$ 11,200

Stockholders’ Equity - Schedule of Stock Reserved for Issuance (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Nov. 20, 2019
Class of Stock [Line Items]
Class A-1 Common Stock reserved for issuance	6,488,989	7,224,134
Class A-1 Common Stock options and RSUs issued and outstanding
Class of Stock [Line Items]
Class A-1 Common Stock reserved for issuance	3,150,215	3,885,360
Class A-2 Common Stock
Class of Stock [Line Items]
Class A-1 Common Stock reserved for issuance	3,333,363	3,333,363	10,000,000
Warrants
Class of Stock [Line Items]
Class A-1 Common Stock reserved for issuance	5,411	5,411

Gaming Terminal Fees (Details) - USD ($) $ in Millions	12 Months Ended
Gaming Terminal Fees (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2018
Gaming Terminal Fees [Abstract]
Administrative fee, percentage payable to third-party (as a percent)				0.8513%
Video gaming terminal fees, tax and administrative fee	$ 245.7	$ 103.6	$ 133.2
Licensed video gaming location net terminal income share	$ 230.4	$ 98.3	$ 138.8

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percentage (as a percent)	50.00%
Employer matching contribution, percent of employee's pay (as a percent)	5.00%
Annual vesting percentage (as a percent)	20.00%
401(k) benefit plan expense	$ 0.9	$ 0.6	$ 0.6
Bonus expense	11.2	1.9	$ 2.1
Accrued bonuses	$ 5.1	$ 2.5
20 percent vested
Defined Contribution Plan Disclosure [Line Items]
Vesting period (in years)	2 years
Fully vested
Defined Contribution Plan Disclosure [Line Items]
Vesting period (in years)	6 years

Stock-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2020	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 17.8	$ 20.0
Excess tax benefits from share based compensation			$ 2.3	$ 5.2	$ (0.1)
Maximum percentage of common stock outstanding allowed for awards (as a percent)			10.00%
Options granted (in shares)			262,097	1,449,779	0
Number of shares outstanding which vested (in shares)			1,556,486	2,249,611	1,228,399	3,832,424
Fair value of vested options			$ 0.3	$ 0.4	$ 1.2
Weighted-average exercise price of non-vested awards (in usd per share)			$ 10.98	$ 8.87
Weighted-average remaining contractual term of outstanding awards (in years)			7 years 6 months	6 years 6 months
Intrinsic value of options exercised			$ 5.2	$ 2.2	20.7
Intrinsic value of options outstanding			$ 4.0
Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding which vested (in shares)			145,555	216,575
Weighted-average remaining contractual term (in years)			3 years 6 months	1 year 7 months 6 days
Class A-1 Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		262,097	6,700,000
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option compensation expense			$ 6.4	$ 5.5	$ 2.2
Vesting period (in years)			4 years		0 years
Percentage of fair market value of common stock (not less than) (as a percent)			100.00%
Award termination period (in years)			10 years
Options \| Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	10 years		4 years
Options \| Class A-1 Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, number of shares authorized (in shares)	6,000,000
Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				4 years	3 years
Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				5 years	5 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated grant date fair value of options and RSUs granted during period			$ 1.8
Restricted stock units granted (in shares)			558,193	1,665,968
Restricted Stock Units (RSUs) \| Minimum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			4 years
Restricted Stock Units (RSUs) \| Maximum \| Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			5 years
Restricted Stock Units (RSUs) \| Maximum \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			1 year

Stock-based Compensation - Schedule of Assumptions for Options Granted (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	262,097	1,449,779	0
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected approximate volatility	60.00%	38.00%	0.00%
Expected dividends	$ 0	$ 0	$ 0
Expected term (in years)	7 years	7 years
Risk-free rate, minimum	0.72%	0.44%
Risk-free rate, maximum	1.17%	1.19%
Risk-free rate (as a percent)			0.00%

Stock-based Compensation - Summary of Options Granted and Range in Vesting Periods (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	262,097	1,449,779	0
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years		0 years
Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years	3 years
Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		5 years	5 years

Stock-based Compensation - Schedule of Vested Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Number of shares outstanding (in shares)	2,249,611	1,228,399	3,832,424
Granted (in shares)	262,097	1,449,779	0
Exercised (in shares)	(577,719)	(359,987)	(2,590,274)
Forfeited/expired (in shares)	(377,503)	(68,580)	(13,751)
Number of shares outstanding (in shares)	1,556,486	2,249,611	1,228,399
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, outstanding (in usd per share)	$ 3.25	$ 0.96	$ 0.73
Granted (in usd per share)	6.90	4.49	0
Exercised (in usd per share)	0.96	0.69	0.62
Forfeited/expired (in usd per share)	4.08	1.32	0.77
Weighted average grant date fair value, outstanding (in usd per share)	4.51	3.25	0.96
Weighted Average Exercise Price
Weighted average exercise price, outstanding (in usd per share)	8.32	2.91	2.16
Granted (in usd per share)	11.75	11.20	0
Exercised (in usd per share)	2.95	2.33	1.84
Forfeited/expired (in usd per share)	10.03	3.85	2.33
Weighted average exercise price, outstanding (in usd per share)	$ 10.47	$ 8.32	$ 2.91

Stock-based Compensation - Summary of Nonvested Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Number of shares outstanding (in shares)	2,033,036	1,148,301	1,709,589
Granted (in shares)	262,097	1,449,779	0
Vested (in shares)	(506,299)	(496,464)	(547,537)
Forfeited (in shares)	(377,503)	(68,580)	(13,751)
Number of shares outstanding (in shares)	1,411,331	2,033,036	1,148,301
Weighted Average Grant Date Fair Value
Weighted average grant date fair value, outstanding (in usd per share)	$ 3.49	$ 0.95	$ 0.82
Granted (in usd per share)	6.90	4.49	0
Vested (in usd per share)	1.23	0.08	0.85
Forfeited (in usd per share)	4.08	1.32	0.77
Weighted average grant date fair value, outstanding (in usd per share)	$ 4.77	$ 3.49	$ 0.95

Stock-based Compensation - Schedule of Nonvested RSU Activity (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Nonvested, beginning balance (in shares)	1,635,749	0
Granted (in shares)	558,193	1,665,968
Vested (in shares)	(343,579)	(4,960)
Forfeited (in shares)	(256,634)	(25,259)
Nonvested, ending balance (in shares)	1,593,729	1,635,749
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in USD per share)	$ 11.55	$ 11.15	$ 0
Granted (in USD per share)	11.96	11.16
Vested (in USD per share)	10.82	10.08
Forfeited (in USD per share)	10.87	11.66
Nonvested, ending balance (in USD per share)	$ 11.55	$ 11.15

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 15,017	$ (16,918)	$ 5,199
Return-to-provision	$ (258)	(7,613)	$ (340)
Tax credit carryforward		400
COVID-19
Operating Loss Carryforwards [Line Items]
Other nonrecurring expense, recoveries		$ 1,300

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current provision
Federal	$ 1,489	$ 0	$ (85)
State	7,418	0	43
Total current provision	8,907	0	(42)
Deferred provision
Federal	8,363	(12,286)	3,740
State	(2,253)	(4,632)	1,501
Total deferred provision	6,110	(16,918)	5,241
Total income tax expense (benefit)	$ 15,017	$ (16,918)	$ 5,199

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Expected Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Computed “expected” tax expense (benefit)	$ 9,781	$ (3,639)	$ (6,629)
Increase (decrease) in income taxes resulting from:
State income taxes	3,659	(2,848)	1,634
Return-to-provision	(258)	(7,613)	(340)
Change in fair value of contingent earnout shares	2,050	(1,782)	2,066
Change in fair value of warrants	0	(2,640)	4,423
Permanently non-deductible transaction costs	215	485	2,079
Officer's compensation	23	0	1,991
Other permanent items	18	220	(16)
Enacted rate change	(28)	(6)	0
Other	(442)	905	(9)
Total income tax expense (benefit)	$ 15,017	$ (16,918)	$ 5,199

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 20,934	$ 31,215
Location contracts and other intangibles	8,150	5,829
Stock-based compensation	2,513	1,428
Other	2,107	394
Total deferred tax assets	33,704	38,866
Deferred tax liabilities:
Property and equipment	35,952	35,005
Unrealized gain on investments in convertible notes	0	37
Deferred tax liabilities, gross	35,952	35,042
Total deferred tax liability, net	$ (2,248)
Total deferred tax asset, net		$ 3,824

Income Taxes - Summary of Carryforwards of Net Operating Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Federal net operating losses
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 61,514	$ 108,830
State net operating losses
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 106,810	$ 106,004

Commitments and Contingencies - Narrative (Details)			12 Months Ended
Commitments and Contingencies - Narrative (Details)	Dec. 18, 2020 USD ($)	Jul. 02, 2019 USD ($)	Dec. 31, 2021 USD ($) defendant	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Rent expense			$ 600,000	$ 500,000	$ 300,000
Number of defendant establishments \| defendant			10
Illinois Gaming Investors, LLC vs. The Company
Loss Contingencies [Line Items]
Damages sought		$ 10,000,000.0
IGB Complaint
Loss Contingencies [Line Items]
Damages sought	$ 5,000,000
Estimated loss			$ 600,000

Commitments and Contingencies - Schedule of Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 671
2023	525
2024	314
2025	133
2026	135
Thereafter	91
Total	$ 1,869

Related-Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Sep. 23, 2020	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Payments on consideration payable				$ 2,792	$ 5,448	$ 2,321
Underwriting fee, percent of stock issuance costs (as a percent)	4.50%
Sale of stock, aggregate issuance amount	$ 84,000
Professional service fees paid by shareholder				0	0	2,891
Public Stock Offering
Related Party Transaction [Line Items]
Sale of common stock, shares issued (in shares)	8,000,000
Raine Group
Related Party Transaction [Line Items]
Payments for underwriting expense	$ 200
Underwriting fee, percent paid (as a percent)	5.50%
Consideration Payable to Previous Sellers in Business Acquisitions \| Fair Share Seller \| Director
Related Party Transaction [Line Items]
Contingent consideration liability		$ 1,600		2,400	1,600
Payments on consideration payable				1,000	900	900
Consideration Payable to Previous Sellers in Business Acquisitions \| G3 Seller \| Employee
Related Party Transaction [Line Items]
Contingent consideration liability		500		400	500
Payments on consideration payable				300	2,500	400
Consideration Payable to Previous Sellers in Business Acquisitions \| Tom's Amusements \| Employee
Related Party Transaction [Line Items]
Contingent consideration liability		1,500		1,500	1,500
Payments on consideration payable				0	0
Consideration Payable to Previous Sellers in Business Acquisitions \| AVG \| Employee
Related Party Transaction [Line Items]
Contingent consideration liability		1,500		400	1,500
Payments on consideration payable				2,300	0
Legal Fees for General Legal and Business Matters \| Much Shelist \| Affiliated Entity
Related Party Transaction [Line Items]
Legal fees				$ 200	100	$ 600
Legal Fees for General Legal and Business Matters \| Much Shelist \| Affiliated Entity \| Additional Paid-In Capital
Related Party Transaction [Line Items]
Net equity infusion from reverse recapitalization		$ 200
Investment Banking Services and Assistance with Reverse Recapitalization \| The Raine Group \| Affiliated Entity
Related Party Transaction [Line Items]
Payments to related party					$ 11,000
Payments for Public Accounting Firm Services Rendered on Behalf of the Company \| Class A Common Stockholder
Related Party Transaction [Line Items]
Professional service fees paid by shareholder			$ 2,900

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ 31,559	$ (410)	$ (36,764)
Less: Net income applicable to contingently issuable shares	0	909	0
Net income (loss) on which diluted earnings per share is calculated	$ 31,559	$ (1,319)	$ (36,764)
Basic weighted average outstanding shares of common stock (in shares)	93,781,000	83,045,000	61,848,000
Dilutive effect of stock-based awards for common stock (in shares)	857,000	0	0
Dilutive effect of contingent earnout shares before conversion (in shares)	0	68,000	0
Diluted weighted average outstanding shares of common stock (in shares)	94,638,000	83,113,000	61,848,000
Earnings per share - basic (in usd per share)	$ 0.34	$ (0.00)	$ (0.59)
Earnings per share - diluted (in usd per share)	$ 0.33	$ (0.02)	$ (0.59)
Anti-dilutive options excluded from calculation of diluted EPS (in shares)	4,506,988	7,224,134	28,561,724

Subsequent Events (Details) $ in Millions	Dec. 31, 2021 USD ($)
Convertible Promissory Notes
Subsequent Event [Line Items]
Investment owned, current	$ 32.1

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2014-09 [Member]

- Definition

Indicates amendment to accounting standards.

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-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Publisher FASB
-Subparagraph (a)(3)(iii)(03)

+ Details