Getting back to business
Twin River Worldwide Holdings announced in a press release its plans to have 90% of its physical casinos in the United States reopened by June 8. The Dover Downs Hotel and Casino in Dover, Delaware already resumed operations on June 1. Rhode Island’s Twin River Casino, Lincoln and Tiverton Casino Hotel are set to open their doors from June 8.
The casino company’s gambling facilities will initially be operating at reduced capacity. Dover Downs will open at 30% capacity, with about 950 gaming machines available to play. As part of the initial reopening phase, there will be no hotel rooms available and no table games open.
Rhode Island casinos will only be accessible by patrons who have received an invitation. 1,570 video lottery terminals (VLTs) will be operational at Lincoln, with 375 machines active in Tiverton.
Successful reopening in Biloxi
The Hard Rock Hotel and Casino Biloxi in Mississippi has also resumed operations. The Twin River-owned property opened on May 21 in line with the Center for Disease Control’s new protocols.
table game wins went up 150%
Twin River observed a 30% rise year-on-year for slot wins in the initial ten days since the Hard Rock Biloxi’s reopening. Table game wins went up 150% compared with the same period in 2019.
Updates on recent acquisitions
Twin River made a number of acquisitions of new gambling properties prior to the outbreak of COVID-19. It has already agreed to buy Caesars Entertainment’s Bally’s Atlantic City Casino, Lake Tahoe’s Montbleu Casino Resort and Spa, and Louisiana’s Eldorado Shreveport Resort and Casino.
Meanwhile, the deals around the Lady Luck Vicksburg Casino in Mississippi and the Isle of Capri Kansas City Casino in Missouri are set to close in early July.
acquisitions will be going ahead as planned
Papanier confirmed that all of these acquisitions will be going ahead as planned. The aim is to increase the geographical reach of the company in a number of attractive markets, leading to sustained levels of growth.
Financial performance in 2020
Twin River’s first-quarter financial results, announced in May, registered a year-on-year revenue drop of 9.5%. January and February showed strong performance before the pandemic kicked in during March.
The first two months of 2020 saw a year-on-year revenue increase of 23.4%, up to $90.3m. A main reason for the increase was Twin River’s acquisitions of the Mardi Gras, Golden Gulch, and Golden Gates casinos in Colorado.