US regional casino operator Twin River Worldwide Holdings (TRWH) posted solid if unspectacular earnings in the final financial report before its rebrand as Bally’s Corporation.

Figures released this week show the Rhode Island-headquartered TRWH generated revenue of $116.6m in the three months ending September 30, a nearly 10% fall from the same period last year. But adjusted earnings managed a 6.8% rise to $38m while net income slipped only 4% to $6.7m.  

Pandemic restrictions on TRWH’s re-opened casinos were blamed for the revenue decline, even though the total got a boost from the additions of Casino KC (Missouri) and Casino Vicksburg (Mississippi), which formally became part of the TRWH fold on July 1.

The fact that the profit decline was limited to single-digit territory was credited to reduced marketing spending, the elimination of lower-margin amenities and “labor savings.” TRWH CEO George Papanier said the company’s “disciplined approach” had given the company the liquidity “to better deal with the kind of uncontrollable events 2020 has dealt us.”