Twin River Worldwide Holdings, Inc (NYSE:TRWH) Q4 2019 Earnings Conference Call - Final Transcript

Feb 11, 2020 • 08:00 am ET


Twin River Worldwide Holdings, Inc (NYSE:TRWH) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning. My name is Casey, and I will be your conference operator today. At this time, I would like to welcome everyone to the Twin River Worldwide Holdings, Inc. Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions]

Craig Eaton, Executive Vice President and General Counsel, you may begin your conference.

Craig Eaton

Good morning, everyone, and thank you for joining us on today's call.

By now you should have received a copy of our preliminary Q4 and full year 2019 earnings release issued yesterday afternoon. If you haven't, the preliminary earnings release and the presentation that accompanies this call are available in the Investor Relations section of our corporate website at 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; Marc Crisafulli, our Executive Vice President and President of Twin River Rhode Island; Jay Minas, our VP of Finance; and finally, Joe McGrail, our Chief Accounting Officer.

Before we begin, we'd like to remind everyone that comments made by management will contain forward-looking statements, including estimates for the Company's 2020 adjusted EBITDA. These forward-looking statements include plans, expectations, estimates and projections that involve significant risks and uncertainties. These risks are discussed in the Company's preliminary earnings release and SEC filings. Actual results may differ materially from the results discussed in these forward-looking statements.

Twin River's actual results of operations for the fourth quarter remain subject to the completion of its financial accounting closing process, which includes review by its management, Audit Committee and external auditors. During the financial closing process, Twin River may identify items that require the Company to make adjustments to the preliminary estimates discussed today. As a result, Twin River's actual operating results could be outside of the ranges set forth in the release, and such differences could be material.

Additionally, the estimates of Twin River's net revenue, net income and adjusted EBITDA are forward-looking statements based solely on information available to Twin River as of the date of this call and may differ materially from its actual operating results. Therefore, investors should not place undue reliance on these preliminary estimates.

During today's call, management will refer to certain non-GAAP financial measures. Reconciliations to the most comparable GAAP financial measures, where the reconciliation can be produced without unreasonable effort, as is the case with forward-looking level of estimated adjusted EBITDA, are included in the schedules contained in our preliminary earnings release or the presentation that accompanies this call.

I will now turn the call over to George.

George Papanier

Thank you, Craig. Good morning, everyone, and thank you for joining us on today's call on such short notice.

Given all the recent strategic announcements by the Company, we wanted to speak directly to investors and provide more details, and pre-releasing our Q4 results allows us to better achieve that. So appreciate you joining us.

After I give my opening comments, I will turn the call over to Marc, who will provide