Twin River Income Declines Despite 2019 Revenue Growth

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Twin River Worldwide Holdings recorded a revenue increase of 19.8% to approximately $523.6 million in 2019, but net income declined 23.7% to $51.4 million after increased financial costs, according to the organization’s preliminary year-end figures.

The larger percentage of Twin River’s revenue for the year came from its two Rhode Island locations; its flagship hotel and casino in Lincoln and the Tiverton Casino & Hotel in Tiverton. These two businesses combined for an estimated $306.3 in revenue, a 1.2% rise year-on-year.

Twin River also recorded $127.4 million in revenue from the Hard Rock Hotel and Casino in Biloxi, Mississippi, which it owns and runs. The operator made an additional $80.8 million in revenue from Dover Downs Casino in Delaware, following its acquisition of the property in 2019.

Source: https://www.igamingbusiness.com/news/twin-river-income-declines-despite-2019-revenue-growth

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