Twin River posts Q2 estimates; revenue and EBITDA up, income expected to fall
Twin River Holdings has announced estimated Q2 revenue of between $146.5m and $148.5m, which would represent a significant year-on-year rise.
Last year, $110.8m was generated for the period and exact results are expected in the second full week of August.
Estimated net income will have dropped to a figure between $15.8m and $18.4m, with Twin River recording $20.3m for the quarter ending 30 June 2018.
Adjusted EBITDA is expected to rise however; last year it registered $44.3m, while in 2019 it expects Q2 results to be between $46m and $49m.
The majority of its revenue, between $82.5m and $83.5m, was generated from Rhode Island operations.
George Papanier, President and CEO of Twin River Holdings, was optimistic about the results and highlighted the operator’s new business model.
He said: “Our mitigation strategy toward new regional competition is also proving itself in the early going, as the overall effect of new competition in Boston in late June is generally in line with our expectations.
“A distinct part of our rationale in building the Tiverton Casino & Hotel was aimed at anticipated competition. The ramping of Tiverton is proceeding according to plan, and the new facility has showed marked resilience since the new competition opened.”
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