Twin River praises Dover Downs acquisition as revenue rises 29% for Q2

By Matthew Enderby

Twin River Worldwide Holdings generated revenue of $143.2m for Q2, a 29% increase year-on-year.

Gross gaming revenue grew 26% to $228m, while net income decreased 15% to $17.2m.

Adjusted EBITDA was up 7% to $47.5m as the operator singled out Dover Downs' contribution to the group, producing $25.8m of overall group revenue.

The operator said new competition it faced duringthe quarter had a greater than expected negative impact on table games at its venue in Lincoln, Rhode Island.

Overall, table game revenue decreased 34% to $7.6m, while slots decreased by approximately 17% to $32.2m.

Revenue from gaming totalled $100.2m, up 22%.

Racing revenue dropped 2% to $3.8m, hotel revenue rose 107% to $11.4m and food and beverage revenue increased 52% to $18.8m.

George Papanier, Twin River Worldwide Holdings President and CEO, said: "Our emphasis of focusing on in-market and out-of-market accretive growth is also proving itself in the early going as we continue to grow prudently into a multi-state operator based in Rhode Island versus a single regional operator."


Share This Post


More News

Kenny Alexander will retire from the board and company at GVC Holdings after 13 years as CEO. COO Shay Segev will replace the outgoing executive, with the changes effective from 17 July. Alexander...

Iqbal Johal looks at how the coronavirus pandemic has forced us more towards a digital way of life, and how the gambling industry must follow suit to recover stronger than before. This article originally appeared in the...