Investor Presentaiton
In Rhode Island and Delaware, Gaming Taxes Pay for VLTs,
So TRWH Realizes Comparatively High Free Cash Flow
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TRWH maintains a significant competitive advantage because its capex is low and reasonably predictable
TRWH's primary capex requirements are associated with maintenance of properties or expansion projects
Illustrative average annual TRWH VLT replacement capex covered by RI and DE
Current number of VLTS in RI and DE
Illustrative cost per VLT
Illustrative replacement cycle
VLT replacement cost per annum = #VLTs x average cost of VLT / replacement cycle
Illustrative average annual TRWH VLT maintenance capex covered by RI and DE
Annual non-replacement VLTS requiring maintenance
Illustrative maintenance cost of each VLT
VLT maintenance cost per annum = # non-replacement VLTs x average maintenance cost
Estimated annual capex and maintenance avoided
7,281
$25,000
7 years
$26.0 million
6,189
$300
$1.9 million
$28.0 million
Note: Benefit of avoided cap-ex to be reduced if legislation tied to the proposed IGT VLT supply partnership is approved and Twin River purchases
percentage of VLTS.
TRWH
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