Twin River Worldwide Holdings, Inc (NYSE:TRWH) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 08:00 am ET


Twin River Worldwide Holdings, Inc (NYSE:TRWH) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning. My name is Maria and I'll be your conference operator today. At this time, I would like to welcome everyone to the Twin River Worldwide Holdings Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

I will now turn the call over to Craig Eaton, Executive Vice President and General Counsel. Please go ahead.

Craig L. Eaton

Good morning everyone and thank you for joining us on today's call. By now, you should have received a copy of our Q2 2020 earnings release issued earlier this morning. If you haven't, the earnings release and presentation that accompanies this call, are available in the Investor Relations section of our 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 also President of Twin River Rhode Island; Jay Minas, our Vice President of Finance; and finally, Joe McGrail, our Chief Accounting Officer.

Before we begin, we would like to remind everyone that comments made by management today will contain forward-looking statements. These forward-looking statements include plans, expectations, estimates and projections that 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. We do not provide a reconciliation of forward-looking non-GAAP financial measures, due to our inability to project special charges within certain expenses. Today's call is also being broadcast live on our Investor site and it will be available for replay there shortly after the completion of this call.

I'll now turn the call over to George. George?

George Papanier

Thank you, Craig. Good morning, everyone.

I hope that everyone is continuing to stay safe during these unprecedented times and appreciate everyone joining us. When we last spoke exactly 90 days ago, all seven of the casinos we owned at the time had been closed in response to COVID-19 and we faced significant uncertainty as to when and to what extent we could reopen. Fast forward to today, we've emerged from the quarter with all nine, including our newly acquired Casino KC and Casino Vicksburg properties having successfully and just as importantly safely reopened. As part of Twin River's overall COVID-19 reopening plan at each property, we committed to meeting or exceeding all guidelines established by the CDC. As such, the Company has implemented property-specific comprehensive health and safety protocols, developed in close consultation with applicable state regulators and public health officials and local jurisdictions, and we are very confident in the environments we have created for our guests and valued team members.

Speaking of our team members, I would like to extend a heartfelt thank you to all of you. You were