Twin River Worldwide Holdings, Inc (TRWH) Misses Q2 EPS by 4c, Revenues Miss

Twin River Worldwide Holdings, Inc (NYSE: TRWH) reported Q2 EPS of $0.51, $0.04 worse than the analyst estimate of $0.55. Revenue for the quarter came in at $143.2 million versus the consensus estimate of $154.17 million.

Financial Highlights - Second Quarter 2019 Compared to Second Quarter 2018

• Revenue increased 29.2% to $143.2 million
• Gross gaming revenue increased 26.5% to $228.0 million(1)
• Net income decreased 15.4% to $17.2 million
• Adjusted EBITDA increased 7.1% to $47.5 million
• Dover Downs contributed solid performance with $25.8 million of revenue

"We are pleased with the Company's results in the quarter as the financial performance at Dover exceeded our already high expectations and our Rhode Island operations performed well despite some softness in the New England gaming markets in the second quarter," said George Papanier, President and Chief Executive Officer. "Our emphasis of focusing on in-market and out-of-market accretive growth is also proving itself in the early going as we continue to grow prudently into a multi-state operator based in Rhode Island versus a single regional operator."

For earnings history and earnings-related data on Twin River Worldwide Holdings, Inc (TRWH) click here.

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