Twin River income declines despite 2019 revenue growth
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.
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. These two casinos combined for an estimated $306.3m in revenue, up 1.2% year-on-year.
Twin River made $127.4m in revenue from the Hard Rock Hotel and Casino in Biloxi, Mississippi which it owns and operates.
The operator made a further $80.8m in revenue from Dover Downs Casino in Delaware, following its acquisition of the property last year.