twin river tiverton casino hotel reservations

The business recorded EBITDA of $40.1m, up 8.4% year-on-year. Of this figure, $69.5m came from Rhode Island, $27.6m from Delaware, $31.2m from Biloxi and $2.1m from other locations. “Over the last year or so, the steps we’ve taken to strategically and opportunistically grow and diversify the company, have created significant shareholder value, returned meaningful capital and leave us well positioned for long-term growth.”įor the fourth quarter of 2019, Twin River made $130.4m in revenue, up 17.1% year-on-year. “We’re excited about the progress we’ve made as we continue to transform the company,” Panaier said. George Papanier, president and chief executive of Twin River Worldwide Holdings, said that the past year’s performance set the business up well for 2020. This left a net profit of $55.2m, with a $71.1m net profit from its Rhode Island locations, $6.0m profit in Delaware and $18.2m from Mississippi offset by losses of $40.2m from other locations. The operator paid $37.9m in interest expenses, up 65.5% year-on-year, and and $32.3m in depreciation and amortization, up 44.8%, though income tax payments for 2019 fell 24.3% to $20.0m.Īcquisition, integration and restructuring expenses came to $12.1m, up 77.9%, while share-based compensation came to $3.8m and professional and advisory fees to $3.5m. In other locations, Twin River reported an EBITDA loss of $17.6m, a 22.2% larger loss than in 2018. EBITDA in Biloxi increased slightly to $37.3m while EBITDA from Delaware came to $16.7m. The operator’s preliminary EBITDA rose slightly year-on-year to $167.0m, though it did not break down the expenses that resulted in this figure.ĮDITBA was again highest in Rhode Island, at $130.6m, but down 8.8% year-on-year. This segment is likely to grow further going forward after the operator purchased three casinos in Colorado – the Mardi Gras, the Golden Gates and Golden Gulch – last month.

Twin River earned a further $9.0m in revenue from other locations. The operator made a further $80.8m in revenue from Dover Downs Casino in Delaware, following its acquisition of the property last year.

Twin River made $127.4m in revenue from the Hard Rock Hotel and Casino in Biloxi, Mississippi which it owns and operates. These two casinos combined for an estimated $306.3m in revenue, up 1.2% year-on-year. The majority of Twin River’s revenue for the year came from its two Rhode Island locations: its flagship casino and hotel in Lincoln and the Tiverton Casino & Hotel in Tiverton. Twin River Worldwide Holdings saw revenue rise 19.8% to an estimated $523.6m, but net income declined 23.7% to $51.4m after increased financial costs, according to the operator’s preliminary year-end figures.

Twin river tiverton casino hotel reservations