TWIN RIVER UNVEILS CASINO VISION AND … RIVER UNVEILS CASINO VISION AND ECONOMIC BENEFITS ......

TRMG

Twin River Management Group, Inc. 100 Twin River Road, Lincoln, RI 02865 401.475.8474 1

TWIN RIVER UNVEILS CASINO VISION AND ECONOMIC BENEFITS

FOR TIVERTON Gaming Market Study Conducted by Industry Experts, The Innovation Group, Also

Released

CONTACT: Patti Doyle, 401-374-2553; [email protected]

TIVERTON, RHODE ISLAND, NOVEMBER 9, 2015: Twin River Management Group (TRMG) presented its

vision for a casino and hotel in Tiverton, Rhode Island to the Town Council tonight which reflected the input it

received from more than 1,200 residents in the 35 community meetings it held over the last six months along with

three design charrettes and two prior presentations to the Council.

The proposed Tiverton casino features a two-story, 85,000 square foot facility, with gaming occurring exclusively

on the first floor in a structure reflective of the shoreline town that would house 1,000 slot machines, 32 table

games, a sit down themed restaurant as well as two to three take-away restaurants, a bar with an entertainment

offering and optional valet parking. The attached 84-room hotel would also feature some meeting space and a

small fitness room. The development would be set on 23 acres within the 45-acre parcel of land just off Stafford

Road, about 400-feet from the Fall River, Massachusetts border and would offer 1,100 surface parking spaces for

customers. The casino and hotel would not be visible from surrounding roads, and wetlands would be preserved

and would include some nature observation stations.

(Design treatments and site plan attached.)

According to John E. Taylor, Jr., chairman of Twin River Worldwide Holdings, Inc, the owner of TRMG, the

casino would have 525 – 600 licensed employees. Existing employees at Newport Grand would be offered the

opportunity to work at the new casino, and job fairs in the town of Tiverton would occur before additional hiring

commenced. The $75 million investment represents site work, construction of the hotel and casino, land costs and

other project expenses.

Financial Benefit to the Town of Tiverton

Twin River also outlined the sources of revenue derived from operations that would be earmarked to the town.

Approximately $4 million annually would be received by the Town of Tiverton, coming from the following

sources:

A minimum of $3 million from slots and table games revenue sharing;

Real and personal property taxes in the estimated amount of $750,000 -$800,000 annually;

Various taxes (e.g. hotel, food, etc.), fees, and permit costs is estimated in the amount of $150,000 -

$200,000 annually.

Legislation will be introduced this legislative session to the General Assembly to detail the Town’s economic

relationship to the gaming facility. Inclusive in that legislation will be gaming revenue sharing to the Town at 1.45

percent of VLT net terminal income and 1 percent of table game revenue. Additionally, it will establish the

minimum gaming revenue of $3 million in both Tiverton and Lincoln to protect against potential threats from

Massachusetts casinos. Legislation will be contingent upon voter approval statewide and in the Town of Tiverton.

Mr. Taylor underscored, “We take very seriously the economic commitment to the town, and quite frankly, if the

legislation to make this possible fails to pass the General Assembly this legislative session and we cannot

substantially meet the economics of our proposal, we will withdraw the question from the local and statewide

ballot.”

“Positioning our state to be as prepared as we possibly can for the oncoming Massachusetts casinos in the

Southeastern Massachusetts market is critical, and I fully support the efforts Twin River is making to save and

potentially grow valuable state revenue,” said Speaker of the House Nicholas Mattiello. “The proposed location

TRMG


and legislative plan gives us the best opportunity to remain competitive in that region of the state and marketplace,

with minimal impact on the host community of Tiverton. Last, this approach reflects the important partnership

the state has with Twin River and will aid considerably in protecting the state’s third largest source of revenue.”

Senate President Teresa Paiva Weed also commented on the legislative proposal:

“I have been briefed by Twin River chairman, John E. Taylor, Jr. on the company’s plans to not only preserve but

enhance revenues the State receives from gaming operations, and believe this is a prudent course for the state and

the company. The proposed casino in Tiverton represents an important investment in Rhode Island at a time when

competition from nearby Massachusetts casinos threatens not only our revenue stream, but jobs for residents of

Newport. I support the conversation Twin River has had with the residents of Tiverton and agree that the proposed

location – steps from the Massachusetts border – gives us the best opportunity to protect the state’s third largest

source of revenue.”

Gaming Market Study

“We based our annual revenue projection to the Town on an analysis provided by renowned industry experts, The

Innovation Group, who looked at four possible scenarios for the Southeastern Massachusetts gaming market so we

feel comfortable about our ability to compete,” noted Mr. Taylor. The four scenarios reviewed by The Innovation

Group included the following:

Scenario 1 – Tiverton enters the market as does Brockton but Taunton (Mashpee Wampanoags) does not;

Scenario 2 – Tiverton enters the market as does Brockton and Taunton;

Scenario 3 – Tiverton enters the market as does Taunton but Brockton does not;

Scenario 4 – Tiverton enters the market, but neither Brockton nor Taunton enter the market.

Accordingly, gaming revenue at the Tiverton casino would be approximately $127.6 million in Scenario 1; $103.8

million in Scenario 2; $112.1 million in Scenario 3; and $147.9 million in Scenario 4.

A copy of The Innovation Group Gaming Market Study is attached.

Traffic Impact Analysis

Twin River also presented to the Council findings from a detailed traffic analysis it commissioned by the traffic

engineering firm, Byant Associates. Traffic patterns at various days and times were recorded in the area of the

William S. Canning Boulevard and Hurst Lane intersection as well as the Stafford Road and Canning Boulevard

intersection. “We learned from our community conversations that traffic in and around the proposed casino

entrance was of significant concern to residents and moreover, there exists significant skepticism toward the

planned RIDOT roundabout to alleviate those conditions,” said Mr. Taylor. “Very simply, if the roundabout on

Canning Boulevard with a dedicated turn lane into the property is not constructed, we will not open. We have a

high degree of confidence that the Raimondo Administration shares our concern that this is a priority project, but

we simply cannot – and will not – consider a scenario in which we open without the roundabout in place.”

Environmental Considerations

Last, a series of environmental reports were commissioned to assess wetland and wildlife impacts and stormwater,

wastewater and water supply.

Highlights of the collective reports include the following:

The proposed casino will employ construction stormwater controls, permanent stormwater management

systems and long-term operation and maintenance programs to manage site runoff. Twin River is

committed to the higher of MA and RI standards.

TRMG


To manage wastewater, Twin River will pay for the cost of installing a sewer manhole at the intersection

of Stafford Road and Hurst Lane and a gravity sewer line down Hurst Lane to the existing pump station

with laterals. This will allow local residents with the opportunity to connect to town sewers. This solution

contributes to the Town’s goal of providing municipal sewers to as many properties as possible.

Based on actual and historical water use in the area, there exists plenty of water to service the project but

water pressure in the neighborhood is low. With the installation of an on-site water storage tank to meet

the domestic and fire suppression needs of the project, water service to the nearby areas will be

unaffected.

A project wetlands consultant has worked with the RIDEM to appropriately identify 23 developable

acres and wetlands classified as swamp, forested swamps, intermittent streams, and areas subject to storm

flowage (ASSF). Further, working in concert with the RIDEM, narrow drainage channels on the property

have been properly categorized as ASSF’s and do not require any additional regulated setback.

Twin River has hired the firm, Natural Resource Services, Inc., to conduct a four season wildlife and

wildlife habitat study and assist in identifying mitigation plans if adverse impacts are determined. Work

began in October and will continue for 12 months. The study also will identify rare or unique wildlife.

Twin River Management Group owns and manages two casinos in Rhode Island and one in Mississippi, as well as

a Colorado horse racetrack that possesses 13 OTB licenses. Properties include Twin River Casino in Lincoln, RI,

Newport Grand Casino in Newport, RI, Hard Rock Hotel and Casino in Biloxi, Mississippi and Arapahoe Park in

Aurora, Colorado. TRMG is a wholly-owned subsidiary of Twin River Worldwide Holdings, Inc. For more

information, visit www.twinrivermanagementgroup.com.

###

http://www.twinrivermanagementgroup.com/

Design Treatment

November 9, 2015

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Site Plan

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Site Plan

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Site Plan

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Site Plan

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Site Plan

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Site Plan

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Gaming Market Study Tiverton, Rhode Island

Prepared for:

Twin River Management Group, Inc.

November 2015

Prepared by:

THE INNOVATION GROUP 280 W. Canton Ave., Suite 310

Winter Park, FL 32789

The Innovation Group Project #059-15 November 2015 Page 1

Market Carve-out To analyze the behavior of the Tiverton market, The Innovation Group first carved the area into 20 distinct markets based on proximity to gaming facilities as well as behavioral and geographic similarities. The map below shows these regions as well as the casino locations within the markets.

Note: The map above includes scenario 2 in which the future competitive environment includes Tiverton, Taunton, and Brockton. Newport is listed in the map as an existing facility, but it is assumed in this project that Newport’s gaming license will be transferred to Tiverton.

Model Calibration The second step in the analysis was to calibrate the rates for propensity, frequency, MPI, and win per visit (WPV) by market to current conditions (competitive environment does not include proposed or subject property illustrated in the map above). Win was varied based on differences between market areas in average household income and travel time and was further adjusted by facility depending upon the level of hotel and other amenity development. This calibration yielded an estimated 31.4 million gamer visits with an average WPV of $87.79, generating $2.9 billion in gaming revenue. These figures reflect the total potential gaming visits and revenue from the defined market area in 2014.


Local Market Future Baseline The next step in the analysis was to create a baseline model for 2020 using projected population and income growth and looking at historical revenue trends. The following table, therefore, details the local market gaming revenue projected out to 2020 and segregated by market segment without the subject property. For the 2020 Baseline model, four additional Class III facilities were assumed for New York (Schenectady and Monticello/Concord) and Massachusetts (Springfield, Everett, Brockton, and Taunton). The market without the Tiverton facility is anticipated to generate approximately 54.7 million gaming visits and $4.7 billion in gaming revenue in 2020.

Estimated Market Patronage and Gaming Revenues – 2020

Market Segment Gamer Visits Win per Visit

Gaming Revenue (MMs)

South Shore 5,071,650 $84.40 $443.30 Inside 128 3,458,059 $89.57 $309.70 Central MA 4,231,019 $75.74 $320.40 Rhode Island 5,042,187 $83.91 $423.10 Foxwoods Mohegan 2,431,114 $89.79 $218.30 Springfield 3,390,394 $84.45 $286.30 NW Mass NH 131,481 $93.58 $12.30 Northshore 4,316,722 $93.60 $404.00 W Conn 4,275,091 $96.96 $414.50 Western Mass 184,573 $80.33 $14.80 Vermont 56,430 $85.58 $4.80 Central NH 201,937 $87.75 $17.70 NYC Area 11,948,911 $82.94 $991.00 Eastern NY 916,773 $87.28 $80.00 Catskills 5,160,535 $77.46 $399.70 Saratoga 3,028,237 $79.02 $239.30 North NH Vermont 79,662 $85.50 $6.80 Cape Cod 130,267 $89.71 $11.70 Maine Coast 307,471 $85.31 $26.20 Central Maine 343,039 $64.29 $22.10 Total: 54,705,552 $84.93 $4,646.20 Source: The Innovation Group


Base Case Forecast for Tiverton In this scenario we detailed the local market gaming revenue projections for 2020 with the subject property reflected as the Tiverton property moves the license from Newport Grand. The table below segregates the propensity and frequency rate by each market segment.

Tiverton Market Factors - 2020 Market Segment Propensity Frequency Average Win Inside 128 37.4% 10.0 $89.25 Central MA 33.4% 9.5 $89.78 Rhode Island 40.3% 14.0 $75.60 South Shore 39.1% 11.0 $84.79 Foxwoods Mohegan 37.4% 9.0 $86.10 Springfield 38.9% 11.1 $84.00 NW Mass NH 22.5% 4.2 $92.40 Northshore 33.1% 8.5 $93.45 W Conn 31.7% 7.2 $94.50 Western Mass 28.7% 7.0 $78.75 Vermont 11.5% 3.0 $84.00 Central NH 18.2% 4.0 $86.10 NYC Area 28.8% 8.0 $84.00 Eastern NY 26.9% 6.0 $86.10 Catskills 28.8% 12.0 $78.75 Saratoga 38.4% 12.0 $78.75 North NH Vermont 11.5% 3.0 $84.00 Cape Cod 21.2% 3.5 $89.25 Maine Coast 18.2% 4.0 $84.00 Central Maine 24.0% 6.0 $63.00 Source: The Innovation Group

The following contains the gaming revenue forecasts for the year 2020 under various competitive environments. The various competitive environments are examined under 4 scenarios. All scenarios include the current competitive environment and the non-Rhode Island proposed facilities as noted on page 1 above. The 4 scenarios for the Rhode Island competitive market are as follows:

• Scenario 1 - Tiverton enters the market as does Brockton, but Taunton does not • Scenario 2 - Tiverton enters the market as does Brockton and Taunton • Scenario 3 - Tiverton enters the market as does Taunton, but Brockton does not • Scenario 4 - Tiverton enters the market, but neither Brockton nor Taunton enter the

market Please note each scenario below.


Scenario 1 The following analysis presents our forecasts for the Tiverton facility, assuming that Taunton does not open, but that Brockton does. The map below shows the location of Taunton in relation to the other gaming facilities in the market. For a scenario that includes the opening of Taunton, please see scenario 2 found later in this document. It is important to note that for consistency purposes, the figures in this report reflect the year 2020.


The following table shows gaming revenue in 2020 for the Tiverton facility. We estimate that the facility will capture an estimated 1.4 million gamer visits, and generate approximately $117.5 million in gaming revenue in the first full year of operation. The table below details the subject property’s local market gaming revenue by market segment.

Tiverton Local Market Gaming Revenue - 2020 Forecast

Market Segment

Tiverton Gamer Visits Tiverton WPV

Tiverton Gaming

Revenue ($MM)

Inside 128

164,100 $89.25 $14.6 Central MA

47,234 $89.78 $4.2

Rhode Island

543,684 $75.60 $41.1 South Shore

604,625 $84.79 $51.3

Foxwoods Mohegan

16,446 $86.10 $1.4 Springfield

2,763 $84.00 $0.2

NW Mass NH

1,154 $92.40 $0.1 Northshore

28,835 $93.45 $2.7

W Conn

2,950 $94.50 $0.3 Western Mass

209 $78.75 $0.0

Vermont

170 $84.00 $0.0 Central NH

1,022 $86.10 $0.1

NYC Area

130 $84.00 $0.0 Eastern NY

167 $86.10 $0.0

Catskills

339 $78.75 $0.0 Saratoga

825 $78.75 $0.1

North NH Vermont

436 $84.00 $0.0 Cape Cod

14,022 $89.25 $1.3

Maine Coast

75 $84.00 $0.0 Central Maine

88 $63.00 $0.0

Total:

1,429,276 $82.22 $117.50

Source: The Innovation Group In addition to the local market revenue generated through the gravity model, the subject property is anticipated to generate revenue from out-of-market visits. This out-of-market gaming demand represents visits driven by reasons other than proximity of a permanent residence, such as tourism, visiting friends and family, seasonal residence, variety of gaming experience, and pass-through traffic intercept. This typically ranges between 4% and 10% of a casino’s revenue depending upon location, amenities, and tourism market relative to the size of the local population. However, due to Tiverton’s distance from major highways and competitive locations in the market, we anticipate that the facility will experience lower out-of-market capture.


The following table presents Tiverton’s projected gaming revenue based on Scenario 1, where Taunton is assumed to not open. Gaming revenue at the Tiverton facility is anticipated to be approximately $127.6 million. This figure includes the gaming revenue generated by the local market, the 80 room hotel to be built on site, and the out of market traffic intercept. The following table presents the facility’s gaming revenue breakdown and total visitation in 2020.

Tiverton Casino Gaming Revenue Summary Stabilized Operations - 2020 Local Gravity Model Market $117,517,454 Hotel Gaming Revenue $5,097,532 Traffic Intercept $4,960,631 Total $127,575,616 Total Visitation 1,531,873 Source: The Innovation Group

Based on comparable market performance metrics, total gaming revenue is anticipated to consist of approximately 67% slot revenue, 31% table revenue, and 2% other gaming revenue.

Tiverton Casino Gaming Revenue Summary by Game Type: 2020

Slot Revenue $85,858,390 Table Revenue $39,548,441 Subtotal $125,406,831 Other Gaming Revenue $2,168,785 Total $127,575,616 Source: The Innovation Group Note: Other gaming revenue includes revenue from poker, keno, etc.


Scenario 2 The following analysis presents our forecasts for the Tiverton facility, assuming Taunton and Brockton opens. The map below shows the location of Taunton in relation to the other gaming facilities in the market.

Note: Newport is listed in the map as an existing facility, but it is assumed in this project that Newport’s gaming license will be transferred to Tiverton.


In this scenario we detailed the local market gaming revenue projections for 2020 with the subject property reflected as the Tiverton property moves the license from Newport Grand. The following table shows gaming revenue in 2020 for the Tiverton facility. We estimate that the facility will capture nearly 1.2 million gamer visits, and generate approximately $94.7 million in gaming revenue in 2020. The table below details the subject property’s local market gaming revenue by market segment.


Market Segment


Tiverton Gaming

Revenue ($MM)

Inside 128

140,130 $89.25 $12.5 Central MA

42,936 $89.78 $3.9

Rhode Island

495,257 $75.60 $37.4 South Shore

414,871 $84.79 $35.2

Foxwoods Mohegan

16,048 $86.10 $1.4 Springfield

2,747 $84.00 $0.2

NW Mass NH

1,082 $92.40 $0.1 Northshore

27,526 $93.45 $2.6

W Conn

2,936 $94.50 $0.3 Western Mass

206 $78.75 $0.0

Vermont

169 $84.00 $0.0 Central NH

1,018 $86.10 $0.1

NYC Area

130 $84.00 $0.0 Eastern NY

168 $86.10 $0.0

Catskills

341 $78.75 $0.0 Saratoga

827 $78.75 $0.1

North NH Vermont

433 $84.00 $0.0 Cape Cod

9,840 $89.25 $0.9

Maine Coast


88 $63.00 $0.0

Total:

1,156,822 $81.86 $94.7



The following table presents Tiverton’s projected gaming revenue based on Scenario 2, where Taunton is assumed to open in 2020. Gaming revenue at the Tiverton facility is anticipated to be approximately $103.8 million. This figure includes the gaming revenue generated by the local market, the 80 room hotel to be built on site, and the out of market traffic intercept. The following table presents the facility’s gaming revenue breakdown and total visitation in 2020.

Tiverton Casino Gaming Revenue Summary Stabilized Operations – 2020 Local Gravity Model Market $94,702,019 Hotel Gaming Revenue $4,797,677 Traffic Intercept $4,326,445 Total $103,826,141 Total Visitation 1,247,910 Source: The Innovation Group


Tiverton Casino Gaming Revenue Summary by Game Type – 2020



Scenario 3 The following analysis presents our forecasts for the Tiverton facility, assuming Taunton opens and Brockton does not. As with the other scenarios (for consistency purposes), the beginning year of the following forecast is 2020 for Taunton. For Tiverton, 2020 is considered year 2 of operations. The map below shows the location of Taunton in relation to the other gaming facilities in the market.



In this scenario we detailed the local market gaming revenue projections for 2020 with the subject property reflected as the Tiverton property moves the license from Newport Grand. The following table shows gaming revenue in 2020 for the Tiverton facility. We estimate that the facility will capture an estimated 1.2 million gamer visits, and generate approximately $102.5 million in gaming revenue in the first full year of operation. The table below details the subject property’s local market gaming revenue by market segment.


Market Segment


Tiverton Gaming

Revenue ($MM)

Inside 128

144,497 $89.25 $12.9 Central MA

47,367 $89.78 $4.3

Rhode Island

504,022 $75.75 $38.2 South Shore

481,252 $84.89 $40.9

Foxwoods Mohegan

16,357 $86.10 $1.4 Springfield

2,769 $84.00 $0.2

NW Mass NH

1,155 $92.40 $0.1 Northshore

31,170 $93.45 $2.9

W Conn

2,977 $94.50 $0.3 Western Mass

212 $78.75 $0.0

Vermont

180 $84.00 $0.0 Central NH

1,169 $86.10 $0.1

NYC Area

131 $84.00 $0.0 Eastern NY

171 $86.10 $0.0

Catskills

344 $78.75 $0.0 Saratoga

835 $78.75 $0.1

North NH Vermont

468 $84.00 $0.0 Cape Cod

11,701 $89.25 $1.0

Maine Coast


109 $63.00 $0.0

Total:

1,246,969 $82.18 $102.5



The following table presents Tiverton’s projected gaming revenue based on Scenario 3, where Taunton is assumed to open in 2020 and Brockton is assumed to not open. Gaming revenue at the Tiverton facility is anticipated to be approximately $112.1 million. This figure includes the gaming revenue generated by the local market, the 80 room hotel to be built on site, and the out of market traffic intercept. The following table presents the facility’s gaming revenue breakdown and total visitation in 2020.

Tiverton Casino Gaming Revenue Summary by Visitor Type – 2020

Local Gravity Model Market $102,482,870 Hotel Gaming Revenue $4,977,590 Traffic Intercept $4,603,449 Total $112,063,908 Total Visitation 1,343,020 Source: The Innovation Group





Scenario 4 The following analysis presents our forecasts for the Tiverton facility, assuming Taunton and Brockton do not. The map below shows the location of Taunton in relation to the other gaming facilities in the market.



In this scenario we detailed the local market gaming revenue projections for 2020 with the subject property reflected as the Tiverton property moves the license from Newport Grand. The following table shows gaming revenue in 2020 for the Tiverton facility. We estimate that the facility will capture an estimated 1.7 million gamer visits, and generate over $136.1 million in gaming revenue in the first full year of operation. The table below details the subject property’s local market gaming revenue by market segment.


Market Segment


Tiverton Gaming

Revenue ($MM)

Inside 128

150,144 $89.25 $13.4 Central MA

58,987 $89.78 $5.3

Rhode Island

592,096 $75.60 $44.8 South Shore

765,285 $84.79 $64.9

Foxwoods Mohegan

18,757 $86.10 $1.6 Springfield

3,120 $84.00 $0.3

NW Mass NH

1,386 $92.40 $0.1 Northshore

34,180 $93.45 $3.2

W Conn

3,352 $94.50 $0.3 Western Mass

242 $78.75 $0.0

Vermont

203 $84.00 $0.0 Central NH

1,185 $86.10 $0.1

NYC Area

146 $84.00 $0.0 Eastern NY

191 $86.10 $0.0

Catskills

383 $78.75 $0.0 Saratoga

932 $78.75 $0.1

North NH Vermont

528 $84.00 $0.0 Cape Cod

20,633 $89.25 $1.8

Maine Coast


102 $63.00 $0.0

Total:

1,651,941 $82.36 $136.1



The following table presents Tiverton’s projected gaming revenue based on Scenario 4, where Taunton and Brockton are assumed to not open. Gaming revenue at the Tiverton facility is anticipated to be approximately $147.9 million. This figure includes the gaming revenue generated by the local market, the 80 room hotel to be built on site, and the out of market traffic intercept. The following table presents the facility’s gaming revenue breakdown and total visitation in 2020.

Tiverton Casino Gaming Revenue Summary by Visitor Type – 2020

Local Gravity Model Market $136,064,835 Hotel Gaming Revenue $5,397,386 Traffic Intercept $6,477,792 Total $147,940,014 Total Visitation 1,778,930 Source: The Innovation Group


Tiverton Casino Gaming Revenue Summary by Game Type - 2020


Summary of Scenarios The following chart illustrates the 4 scenarios noted above for the year 2020. The first chart includes a summary by type of visitor, while the latter chart includes a breakdown by game type.

Tiverton Casino Gaming Revenue Summary by Visitor Type - 2020

Scenario 1 Scenario 2 Scenario 3 Scenario 4

Local Gravity Model Market $117,517,454 $94,702,019 $102,482,870 $136,064,835 Hotel Gaming Revenue $5,097,532 $4,797,677 $4,977,590 $5,397,386 Traffic Intercept $4,960,631 $4,326,445 $4,603,449 $6,477,792 Total $127,575,616 $103,826,141 $112,063,908 $147,940,014 Total Visitation 1,531,873 1,247,910 1,343,020 1,778,930

Source: The Innovation Group

Note: Other gaming revenue includes revenue from poker, keno, etc.



Scenario 1 Scenario 2 Scenario 3 Scenario 4

Slot Revenue $85,858,390 $69,874,993 $75,419,010 $99,563,630 Table Revenue $39,548,441 $32,186,104 $34,739,812 $45,861,404 Subtotal $125,406,831 $102,061,096 $110,158,822 $145,425,034 Other Gaming Revenue $2,168,785 $1,765,044 $1,905,086 $2,514,980 Total $127,575,616 $103,826,141 $112,063,908 $147,940,014

Source: The Innovation Group

Note: Other gaming revenue includes revenue from poker, keno, etc.


DISCLAIMER Certain information included in this report contains forward-looking estimates, projections and/or statements. The Innovation Group has based these projections, estimates and/or statements on our current expectations about future events. These forward-looking items include statements that reflect our existing beliefs and knowledge regarding the operating environment, existing trends, existing plans, objectives, goals, expectations, anticipations, results of operations, future performance and business plans. Further, statements that include the words "may," "could," "should," "would," "believe," "expect," "anticipate," "estimate," "intend," "plan," “project,” or other words or expressions of similar meaning have been utilized. These statements reflect our judgment on the date they are made and we undertake no duty to update such statements in the future. Although we believe that the expectations in these reports are reasonable, any or all of the estimates or projections in this report may prove to be incorrect. To the extent possible, we have attempted to verify and confirm estimates and assumptions used in this analysis. However, some assumptions inevitably will not materialize as a result of inaccurate assumptions or as a consequence of known or unknown risks and uncertainties and unanticipated events and circumstances, which may occur. Consequently, actual results achieved during the period covered by our analysis will vary from our estimates and the variations may be material. As such, The Innovation Group accepts no liability in relation to the estimates provided herein.

TWIN RIVER UNVEILS CASINO VISION AND … RIVER UNVEILS CASINO VISION AND ECONOMIC BENEFITS ......

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