Twin River Worldwide Holdings, Inc (NYSE:TRWH) Q3 2019 Earnings Conference Call - Final Transcript
Nov 14, 2019 • 05:00 pm ET
Good afternoon. My name is Sheryl, and I will be your conference operator today. At this time, I would like to welcome everyone to the Twin River Worldwide Holdings Inc. Third Quarter 2019 Earnings Conference Call. [Operator Instructions]
Craig Eaton, Executive Vice President and General Counsel. You may begin your conference.
Good afternoon, everyone, and thank you for joining us on today's call. By now you should have received a copy of our Q3 earnings release issued earlier today. If you haven't, the earnings release and the presentation that accompanies this call are available in the Investor Relations section of our corporate website at www.twinriverwwholdings.com under the News and Events & Presentations tabs.
With me on today's call are George Papanier, our President and Chief Executive Officer; Steve Capp, our Chief Financial Officer; Mark Crisafulli, our Executive Vice President and President of Twin River Rhode Island; Jay Minas, our Vice President of Finance; and Joe McGrail, our Executive Director of SEC Reporting.
Before we begin, we would like to remind everyone that comments made by management may contain forward-looking statements. These forward-looking statements include, plans, expectations, estimates and projections that might involve significant risks and uncertainties. These risks are discussed in the company's earnings release and SEC filings. Actual results may differ materially from the results discussed in these forward-looking statements. During today's call, management will refer to certain non-GAAP financial measures. Reconciliations to the most comparable GAAP financial measures are included in the schedules contained in our earnings release or the presentation that accompanies this call.
I will now turn the call over to George.
Thank you, Craig. Good afternoon, everyone, and thank you for joining us for our third quarter earnings call. After my introductory comments, I'm going to turn the call over to Steve, who'll follow-up and provide more detail about our financial and operational results as well as discuss the steady execution of our proven corporate strategy.
We're excited about the progress we've made as we continue to transform the company. Over the last year or so, we feel that the steps we've taken strategically and opportunistically grow and diversify the company, all while creating shareholder value and returning meaningful capital have positioned us extremely well for long-term value creation. Early results on both Tiverton and Dover continue to meet and exceed our already high expectations. We look forward to applying our demonstrated track record of successful M&A to Black Hawk, Kansas City and Vicksburg upon the expected closing of these previously announced deals in early to mid-2020.
Despite the anticipated short-term impact of competition to our Twin River Casino Hotel in Lincoln this quarter, we believe that our overall plan remains well on track and see no change to the long-term value proposition we have laid out for investors. In the quarter, as we introduced on our call for Q2, the new competition in the region had a greater than expected impact on Lincoln, particularly on our table games business in the third quarter. Promotional activity