A 56-yr-old man was additionally injured in the explosion. A man and a girl were injured Sunday when a entice door on an air cannon flew off at Punkin Chunkin. Delaware’s world famous Punkin Chunkin, back after a 2-yr hiatus prompted by an accident and lawsuit, turned dangerous Sunday afternoon when an air cannon firing a pumpkin broke apart, injuring a man and a woman, in response to Delaware State Police. This 12 months marked the return of the World Championship Punkin Chunkin after a two-year hiatus. This is the primary Punkin Chunkin after a two-yr hiatus after another harm suspended the Bridgeville occasion. And the second quarter is often the most effective quarter and the primary quarter is often the second-best quarter. The addition of Black Hawk in January and the expected additions of Kansas Metropolis and Vicksburg in the second quarter will complement the annualization of financial outcomes at Dover, and this can all be very useful in greater than offsetting the annualization of the aggressive impact of Boston competitors.
Given that that is an investor call, I’ll focus on the Twin River parts of the proposed settlement. From the Twin River perspective, this proposed settlement yields numerous vital advantages. It should be the real license quantity stated on the website of the licensing authority. We undertook an advanced strategy to relocate that license to Tiverton, Rhode Island. Turning to Tiverton. In 2016, we purchased the second Rhode Island gaming license based mostly in Newport, Rhode Island. VLTs and to get credit score for that funding in the second step, which I will focus on in a moment. Get able to rock at the brand-new Hard Rock Hotel & casino theatre Sacramento at Fire Mountain. “I don’t get it, actually,” he said. On to 2020 earnings guidance. However, we are not offering any guidance on improved monetary results straight associated to these enhancements or our enhanced competitiveness right now. We mentioned last yr that we had adopted a balanced capital allocation program to each help investment in the business and provide returns to shareholders over time. We’ll reestablish this property within the desk video games market and drive income by way of efficient advertising and marketing initiatives and a vastly improved customer expertise.
In addition, both our Tiverton and Dover properties proceed to fulfill and exceed our already excessive expectations, and Biloxi turned in a stable quarter of progress on each the highest and bottom line. Dover Downs. Final yr, we purchased Dover for approximately hundred million, net of cash acquired and paid for predominantly with inventory. We once once more saw little in the way in which of market expansion, which continues to be significantly lower than most observers’ expectations. I assume could you point to any form of milestones that we should doubtlessly keep watch over right here as this factor sort of weaves its way through the legislature in Rhode Island? The query can be, I assume where can we go from here?
But only a query for you. Marc will present more particulars on these plans in a minute. We’re very excited to share more particulars of our recent announcement with IGT. 0.10 quarterly dividend coverage and purchased back more than 20% of our shares excellent since Q2, an amazing return on capital. This is a cloth improvement for us without the State of Rhode Island or the Rhode Island taxpayers having to reduce their share of the VLT proceeds. This, mixed with the opening of latest Boston competition last summer, created market situations by means of which we felt we may act opportunistically, whereas at the same time constructing shareholder value. So that is our M&A model and that’s the mindset and experience we convey to the M&A market.
Let me briefly stroll via our confirmed M&A mannequin. We’re very bullish on the potential for this property as it suits our model for revenue upside given its finest-in-market location and our plan for targeted capex to dramatically improve the client expertise. Do you still consider that you have more — on the fee mitigation aspect to maybe drive that margin slightly larger, regardless of sort of what you see on the revenue side? Despite the income influence within the month, our backside line revenue did enhance each month inside the quarter, as cost control measures started to take impact. Based on preliminary reporting, January quantity indicators are expected to replicate a nice bounce back, particularly in slots, consistent with traits we saw in early Q4. I am pleased with the Q4 preliminary earnings that we released yesterday afternoon.