Twin River Will Reopen 90% of Casinos by June 8

  • Dover Downs Hotel and Casino in Delaware already opened its doors on June 1
  • Rhode Island's Tiverton and Lincoln properties are set to resume operations on June 8
  • Hard Rock Hotel and Casino Biloxi in Mississippi reported rising figures since May 21 reopening
  • Company also plans to complete a number of casino acquisitions announced pre-pandemic
facade of Hard Rock Casino in Biloxi, Mississippi
Twin River plans to have 90% of its US casinos up and running by June 8. [Image: Shutterstock.com]

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. 

Twin River properties have been shut since mid-March as the coronavirus pandemic swept across the country, causing widespread closure of non-essential businesses.

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.

Chief executive and president George Papanier said he is confident that the reopening of its various casinos will be met by good consumer demand. In the company press release, he stated: “As evidenced by our successful reopening at Hard Rock Biloxi, there is strong market demand for which we are well-positioned as a regional gaming company focused on local and regional visitation.”

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.