Twin River Worldwide Holdings Inc. (NYSE: TRWH) is about to announce the Q3 financial results. The company which controls two operators on the Rhode Island had warned that Wynn Resorts and Encore Boston Harbor competition would affect TRWH’s third-quarter results.

Stifel analyst Brad Boyer told that TRWH earnings before interest, taxes, depreciation, and amortization would decrease. The Twin River revenue will reflect how Encore Boston Harbor has affected the company.

Boyer further stated that Rhode’s Island data of Twin River gross gaming revenue shows a decline of 9 percent after the first trading quarter of Encore Boston.

“Furthermore, based on Wynn’s reported results and comments from others operating in the market, we sense Wynn’s promotional spend, particularly with respect to its slot business, has remained elevated, an outcome that will likely have negative ramifications for Twin River’s margin performance over the next several quarters,” said Boyer.

Boyer estimated that Twin River home revenue would decline by 15 percent in the third and fourth quarter. The earlier forecast had predicted a drop of 7 and 5 percent. The analyst expects that Twin River Rhode’s Island revenue to be $278 million in 2020 and $282 million in 2021.

Encore Boston Has Its Issues

Wynn resort in New England has dominated the area since it opened in June. The company has, however, failed to achieve the initial annual forecast of $800 million since the company only generated $175 million in the third quarter.

The company also reported that the Massachusetts property missed the Wall Street forecast of $15 million as only $7.7 million was revenue generated for the property last week. Encore Boston Harbor has also proved to be a serious competitor for New England casinos.

Bright Spots

Although Two River is performing poorly in its home state, the company has a blight spot in Dover Downs property in Delaware. Boyer claimed that the company is extracting more value from the hotel than the previous owners. Thus, the company can still pay off to investors from gaming, food, and beverages offered in the venues.

Two River also owns Arapahoe Park in Colorado, and they are planning to acquire Black Hawk, an operation that is likely to get benefits from the legalization of sports betting.