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Sep 30, 2020
Bally's Q3 2020 Earnings Report
Announced third quarter 2020 results, confirming previously reported preliminary results with robust margin expansion as the key driver of operating income and adjusted EBITDA growth.
Key Takeaways
Twin River Worldwide Holdings, Inc. reported a decrease in revenue for the third quarter of 2020, impacted by COVID-19 limitations, but mitigated the impact through operational efficiencies, leading to an increase in income from operations and Adjusted EBITDA compared to the same period in 2019.
Strong operating and Adjusted EBITDA margins continue trend of operational efficiencies since re-opening
Income from operations of $23.4 million, increased $1.9 million or 9.0%, while net income of $6.7 million was slightly down, compared to third quarter 2019
Adjusted EBITDA of $38.0 million for the quarter is up $2.4 million, or 6.8%, from same period in 2019
Continued execution on growth and diversification strategy with recently announced acquisitions
Forward Guidance
The company continues to work through the regulatory approval process on its other pending acquisitions which were announced earlier this year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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