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Twin River Publishes First Quarter Results Amid Covid-19-Induced Shutdown

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The US casino group Twin River Worldwide Holdings, Inc has announced financial results for the first quarter ended March 31, 2020. The results are expectedly modest, as the casinos remained closed from mid-March.

As of March 31, 2020, Twin River had $361.6 million in cash and cash equivalents, having fully drawn on its $250 million revolving credit facility during the first quarter. On May 11, 2020, it raised its term loan by $275 million under its existing credit agreement and repaid the full $250 million it had outstanding under its revolving credit facility. Proforma for the additional $275 million of financing, the concurrent repayment of the full $250M balance on its revolver, and factoring in fees and expenses paid at closing, the Company had cash on hand of more than $370 million as of March 31, 2020 and full availability, subject to the terms of the applicable agreement, of the $250 million under the revolver, for a total liquidity in excess of $620 million.

The company has undertaken successful efforts to enhance liquidity and cut costs. The company has also closed

$275 million of new debt financing, which will further improve the liquidity and support strategic growth opportunities.

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George Papanier, President and Chief Executive Officer, said “During these times, our highest priority is the health and safety of our team members, customers and communities. We continue to support the actions taken by state and local officials to help slow the spread of COVID-19, including the temporary closure of our properties, and continue to look to provide assistance wherever possible.”

“Our Company started the year strong, reporting year-over-year revenue growth of over 23% in the first two months of the quarter,” Mr. Papanier continued. “While our full quarter results were meaningfully impacted by the closure of our properties in March, we have taken broad-based actions to reduce expenses and enhance liquidity. Our leadership team has also remained hard at work executing on key strategic growth initiatives, including our recently announced deal to acquire three casinos from Eldorado and Caesars to further expand our geographic diversity and enhance our financial profile. Despite near-term uncertainties, we are confident that our strong balance sheet, liquidity and long-term strategic planning will enable us to emerge from this crisis in an even better position.”

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Aviatrix enters North America for first time with Ontario launch

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Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.

Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.

It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.

Aviatrix was helped through the AGCO licensing and certification process by BetComply.

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Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We committed to expanding Aviatrix’s regulated footprint, and this is another huge step. We’re already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.”

Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.

It was also recently named ‘Game of the Year’ at the EGR Operator Awards 2024.

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Gift Responsibly: Lottery Tickets Aren’t Child’s Play

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While sharing gifts with family and friends is a wonderful tradition during the holiday season, Ontario Lottery and Gaming Corporation (OLG) reminds parents and adults that all lottery products, including INSTANT tickets, are a form of gambling and are not suitable gifts for children and minors.

While lottery products make great gift ideas for a variety of special occasions, these products are for adults only. It’s vital that parents and adults understand the proven risks and impacts associated with underage gambling. If you decide to buy lottery gifts for friends and family, please ensure the recipients are at least 18 years of age and older.

There is extensive free information and various resources available dealing with youth and gambling:

The YMCA Youth Gambling Awareness Program (YGAP) is a free service funded by Ontario Ministry of Health and Long-Term Care to raise awareness among youth of gambling risks, how to make informed decisions, and healthy, active lifestyles.

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The Gambling, Gaming and Technology Use (GGTU) program at the Centre for Addiction and Mental Health (CAMH) supports addictions and mental health service providers through continuing professional development, digital tools and resources, and facilitating knowledge mobilization activities related to problem gambling, video gaming, and internet addiction.

The Responsible Gambling Council (RGC), an independent non-profit organization focused on the prevention of problem gambling in Canada and worldwide, with information on Teens or Young Adults and gambling.

Also, OLG’s award winning PlaySmart.ca program can help parents understand the facts when it comes to games, and concepts like odds and randomness. There’s also a “Finding Help” section with links to the support resources above and more.

OLG has supported the Holiday Campaign from the National Council of Problem Gambling and the North American Association of State and Provincial Lotteries (NASPL) for many years, which encourages lotteries in Canada, US, and around the world to promote the important message that lottery products are not suitable for children at any time.

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The Grand Traverse Band of Ottawa and Chippewa Indians Plans to Open a Gaming Facility in Benzonia

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The Grand Traverse Band of Ottawa and Chippewa Indians plans to open a gaming facility in Benzonia.

“The Grand Traverse Band of Ottawa and Chippewa Indians wishes to share with the public the exciting news that the tribe will open a new gaming facility on its trust land in Benzie County. The facility will create much-needed new employment opportunities and stimulate economic growth for the tribe and for the local community,” reads an undated press release on the tribe’s website.

The gaming facility will be located at the tribe’s community center at 7282 Hoadley Road, in Benzonia, according to the release.

At the Nov. 26 Benzie County Board of Commissioners, John Petoskey spoke to commissioners about the gaming facility on behalf of the tribe.

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Petoskey said he had been in contact with county officials about the gaming facility.

“What the tribe would like to do is to open a gaming facility on Hoadly Road just down the street from the Wesco gas station,” Petoskey said.

He said the tribe submitted a notice of notification to the National Indian Gaming Commission and the Office of Indian Gaming in the summer of 2023.

“In the view of the tribe, this site is eligible for gaming under the Indian Gaming Regulatory Act under what’s know as restored land exception to the categorical prohibition of gaming after 1988. That was basically the same argument the tribe used for Turtle Creek and was successful in that case,” Petoskey said.

He said state officials also have been notified of the tribe’s intent.

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Petoskey said federal officials had 120 days to review the notice and object.

“At this point, they have not raised objections, so our internal gaming commission at the Grand Traverse Band issued a gaming license on Nov. 21,” he said.

He said after the license was issued, the tribe reached out to Benzie County officials so that they would know what was going on at tribal land and could answer questions from the public.

The tribal center will be renovated to accommodate gaming The tribe also has a housing development on the property.

Petoskey said the facility will feature slot machines and table games.

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Work on the renovation has already started, including electrical and architectural work.

Expanded parking may be constructed if “demand is sufficient” Petoskey said.

He also said the gaming facility would create between 20 and 50 jobs.

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