Company Overview - Twin River Worldwide Holdings (TRWH) owns and operates five properties across four states and has pending acquisitions expected to close in early 2020[9] - TRWH may return up to $250 million to shareholders through stock repurchases and dividends, with $178 million already spent as of October 31, 2019[10] - TRWH's casino portfolio includes approximately 8,450 slot machines/VLTs and approximately 235 table games, excluding pending acquisitions[16] - TRWH's casino portfolio includes approximately 1,200 hotel rooms, excluding pending acquisitions[14] Financial Performance and Growth - Q3 2019 revenue increased by 17% to $1293 million compared to Q3 2018[53] - Gross gaming revenue increased 136% to $2061 million in Q3 2019[53] - Net income decreased 573% to $70 million in Q3 2019, and adjusted EBITDA decreased 141% to $356 million[53] - The company repurchased 66 million shares, or 16% of the total shares outstanding as of June 30, 2019, during the third quarter of 2019[56] Strategic Initiatives and Capital Structure - The company has a $250 million capital return program, including share repurchases and dividends[32] - The company's net leverage ratio is 28x, calculated as net debt of $466647 million divided by TTM adjusted EBITDA of $163918 million[60] - Dover Downs exceeded expectations with $259 million of revenue and adjusted EBITDA of $61 million in Q3 2019[53]
Bally's (BALY) - 2019 Q3 - Earnings Call Presentation