Twin River Changes Leadership

Updated 12/10, 7:30am: Twin River Worldwide Holdings, Inc. announced Monday that John E. Taylor, Jr. is stepping down as Executive Chair and a member of the Board of Directors and Soohyung Kim has been appointed as Board Chair. In an article in Providence Business News, Twin River said Taylor “reluctantly” stepped down.

Taylor had served as the Chair of the Twin River Board since 2010 and Executive Chair since July 2017.

Taylor said, “The Company has become a major force in the gaming space and is on a powerful financial trajectory. I am proud of what we’ve accomplished and have nothing but good wishes for the Company’s continued success in the future. I took this step reluctantly, but feel the time is right for me to take on other opportunities where I can help create similar value.”

About Soohyung Kim

Mr. Kim is a Founding Partner of Standard General L.P., a significant shareholder in Twin River, and is the firm’s Managing Partner and Chief Investment Officer. He has been an independent director of the Company since 2016, where he leads the Compensation and Nominating and Governance committees.

Kim has been investing in special situations strategies since 1997, including as co-founder of Cyrus Capital Partners from 2005 to 2007 and at Och-Ziff Capital Management from 1999 to 2005, where he was a Principal and co-founder of its fixed income business. Prior to joining Och-Ziff Capital Management, Mr. Kim was an analyst for the Capital Management Group at Bankers Trust Company from 1997 to 1999. Mr. Kim is a Director of Maidstone Insurance Company, a Director of Coalition for Queens, a Director of the Cary Institute of Ecosystem Studies and the President of the Stuyvesant High School Alumni Association. Mr. Kim is a former member of the board of directors of Greektown Superholdings and Media General, Inc. and the board of managers of ALST Casino Holdco, LLC. Mr. Kim was an officer and director of General Wireless Operations Inc. and certain affiliates within two years of its bankruptcy filing. Mr. Kim’s knowledge of markets enhances the ability of Twin River to make strong financial judgments and generate long-term stockholder value.

From a recent story in Radio & Television Business Report (https://www.rbr.com/meet-the-man-who-created-mediaco-with-jeff-smulyan/ ) “…this could result in an accurate 2013 prediction that Soo is among the next generation of top talent in the hedge fund universe.

Kim is described as highly private. It could lead to a reworking of a 2014 headline used by TVNewscheck to describe Soo: The Most Important, Least Known Man In TV. The article went on to say, “Starting today, Soo may just be the most important, least known man in broadcast media.”

About Twin River

Twin River Worldwide Holdings, Inc., or TRWH, owns and manages four casinos; two casinos in Rhode Island, one in Mississippi, and one in Delaware, as well as a Colorado horse race track that has 13 authorized OTB licenses. Properties include Twin River Casino Hotel (Lincoln, RI), Tiverton Casino Hotel (Tiverton, RI), Hard Rock Hotel & Casino (Biloxi, MS), Dover Downs Hotel & Casino (Dover, DE) and Arapahoe Park racetrack (Aurora, CO). Its casinos range in size from 1,000 slots and 32 table games facilities to properties with over 4,100 slots, approximately 125 table games, and 48 stadium gaming positions, along with hotel and resort amenities. Its shares are traded on the New York Stock Exchange under the ticker symbol “TRWH.”