Twin River Worldwide holding has recorded a $32.4 million loss in its first half of 2020, representing a 47.7 percent decline in revenue. The firm is the latest U.S operator highlight the effect of COVID-19 on its business operations.

The firm’s revenue for the last s6 months ending 30th June totalled $138.1 million a decline from the previous figure of $263.8 million registered in 2019. Most of the revenue came from the gaming sector, which brought in $99.6 million.

Revenue from the company’s hotel space declined to about $9.8 million. In comparison, beverage and food fell by half to just over $9.8 million. Twin River’s properties closed from March, with only two re-opening two months later. However, nearly all had resumed operations by 17th June. The shut-down resulted in the firm’s outgoings falling, with the drop in the cost being outstripped by the decline in its revenue.

Source: https://www.igamingbusiness.com/news/twin-river-reports-324m-first-half-net-loss

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