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Twin River Worldwide Holdings on watch after Q2 update

Jul. 23, 2019 9:06 AM ETBally's Corporation (BALY) StockBALYBy: Clark Schultz, SA News Editor1 Comment
  • Twin River Worldwide Holdings (NYSE:TRWH) issues preliminary results for Q2.
  • The company says it expects to report revenue of $146.5M to $148.5M vs. $160M consensus, net income of $15.8M to $18.4M and adjusted EBITDA of $46.0M to $49.0M.
  • CEO update: "Our Rhode Island operations performed well despite some quarterly softness in the New England gaming markets generally. Financial performance at Dover during our first full quarter of ownership exceeded our already high expectation due to our initial integration and optimization efforts and yet we still anticipate substantial physical and operating changes to be implemented. At Hard Rock Biloxi, we were pleased to see another quarter of solid performance as our operations there are stable and performing well. At the Corporate level, we continue investing in order to prepare for more growth as evidenced by our recently announced acquisitions. Somewhat higher corporate costs in the second quarter reflect that investment."
  • TRWH +0.43% premarket to $28.25.
  • Twin River has a Dutch tender offer scheduled to expire on July 26.

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