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Monarch Casino & Resort, Inc. - MCRI STOCK NEWS

Welcome to our dedicated page for Monarch Casino & Resort news (Ticker: MCRI), a resource for investors and traders seeking the latest updates and insights on Monarch Casino & Resort stock.

Monarch Casino & Resort Inc. (symbol: MCRI) is a prominent player in the gaming and hospitality industry in the United States. Through its subsidiaries, the company owns and operates two major properties: the Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Black Hawk in Black Hawk, Colorado.

The Atlantis Casino Resort Spa in Reno features approximately 61,000 square feet of casino space, 818 guest rooms, 8 food outlets, 2 gourmet coffee and pastry bars, 1 snack bar, and a 30,000 square-foot health spa and salon with an enclosed pool. Additionally, it houses 2 retail outlets that offer clothing and gift shop merchandise, an 8,000 square-foot family entertainment center, and 52,000 square feet of banquet, convention, and meeting room space. The casino boasts around 1,450 slot and video poker machines, 37 table games including blackjack, craps, and roulette, a race and sports book, a 24-hour live keno lounge, and a poker room.

The Monarch Casino Black Hawk is another cornerstone of the company’s operations, providing the latest in gaming, dining, and hospitality amenities. Monarch Casino & Resort Inc. generates most of its revenue from its casinos, followed by food & beverage, and hotel operations.

Recent achievements include the declaration of cash dividends payable quarterly in 2023 and 2024. The company continues to navigate ongoing litigation with its Monarch Black Hawk general contractor, PCL Construction Services, Inc., which has impacted net income and diluted EPS.

Monarch Casino & Resort Inc. remains committed to enhancing its gaming and hospitality offerings, ensuring a premium experience for its guests. The company’s robust facilities, combined with its strategic focus on customer satisfaction, make it a notable entity in the hospitality sector.

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Monarch Casino & Resort (Nasdaq: MCRI) reported record financial results for Q2 2024, with net revenue increasing 3.6% to $128.1 million and adjusted EBITDA growing 4.3% to $43.9 million. The company saw growth across all business segments at Monarch Black Hawk, while Atlantis completed upgrades to 125 hotel rooms. Key financial highlights include:

  • Net income up 1.2% to $22.7 million
  • Diluted EPS increased 4.4% to $1.19
  • Adjusted EBITDA margin improved to 34.3%

The company declared a quarterly cash dividend of $0.30 per share, payable on September 15, 2024. Monarch also repurchased 452,464 shares for $30.5 million in Q2 2024.

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Monarch Casino Resort Spa's Spa Monarch has been nominated for USA Today's 2024 10Best Readers' Choice Travel Awards in the Best Hotel Spa category for the second consecutive year. This prestigious recognition highlights the spa's outstanding amenities and services, positioning it among the nation's elite spa destinations. Set against the Rocky Mountains, Spa Monarch offers luxurious amenities including a rooftop pool, fire pits, aqua spa, and unique therapies.

Monarch Casino Resort Spa, located in Black Hawk, Colorado, was voted the 4th 'Best Overall Casino Outside of Las Vegas' by Newsweek readers in 2023. The resort features over 60,000 square feet of gaming space, multiple dining options, 516 luxury hotel rooms, and a free 1,350-space parking garage. Public voting for the USA Today 10Best Readers' Choice Awards is open until September 4th, 2024.

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Monarch Casino & Resort (NASDAQ: MCRI) will announce its 2024 second quarter financial results after the market closes on Wednesday, July 24, 2024. The upcoming report will provide insights into the company's financial performance for the quarter, which is important for investors and stakeholders monitoring MCRI's stock. Investors are keen to analyze key metrics such as earnings, revenue, and earnings per share (EPS), as these will influence the stock's performance and market outlook.

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Monarch Casino & Resort, Inc. (Nasdaq: MCRI) reported record first-quarter 2024 financial results with net revenue of $121.7 million, a 4.3% increase from the prior year. Adjusted EBITDA reached $38.5 million, up 5.7%. The company declared a cash dividend of $0.30 per share, payable on June 15, 2024. CEO John Farahi highlighted revenue growth at Monarch Black Hawk and ongoing property enhancements at Atlantis. The company remains focused on operational efficiency, capital investments, and potential M&A transactions to drive long-term value for stockholders.
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Monarch Casino & Resort, Inc. (MCRI) will release its 2024 first quarter financial results on April 17, 2024.
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Monarch Casino & Resort, Inc. (MCRI) reported a 6.3% increase in net revenue for the fourth quarter of 2023, reaching $128.2 million. However, net income decreased by 18.9% to $18.2 million, and adjusted EBITDA rose by 3.4% to $43.0 million. The company declared a cash dividend of $0.30 per share payable on March 15, 2024.
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Monarch Casino & Resort, Inc. (MCRI) will release its 2023 fourth quarter financial results on February 14, 2024, after the market closes.
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Procurant (MCRI) provides food safety solutions to Monarch Casino & Resort, Inc. in Nevada and Colorado. Monarch uses Procurant Sense for wireless temperature monitoring and Procurant Task for digital food safety management, ensuring quality and consistency in their foodservice facilities.
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Monarch Casino & Resort, Inc. reports operating results for Q3 2023 and declares cash dividend of $0.30 per share
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Monarch Casino & Resort to release Q3 financial results on October 18, 2023
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FAQ

What properties does Monarch Casino & Resort Inc. own?

Monarch Casino & Resort Inc. owns the Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Black Hawk in Black Hawk, Colorado.

What are the main sources of revenue for Monarch Casino & Resort Inc.?

The main sources of revenue for Monarch Casino & Resort Inc. are its casino operations, followed by food & beverage, and hotel operations.

How large is the Atlantis Casino Resort Spa?

The Atlantis Casino Resort Spa in Reno features approximately 61,000 square feet of casino space and 818 guest rooms.

What amenities are available at the Monarch Black Hawk Casino?

Monarch Black Hawk Casino offers gaming, dining, and hospitality amenities, including a variety of slot machines, table games, and dining options.

How frequently does Monarch Casino & Resort Inc. declare dividends?

Monarch Casino & Resort Inc. has declared quarterly cash dividends, with recent announcements for payouts in September and December 2023, and March and June 2024.

What impact has litigation had on Monarch Casino & Resort Inc.'s financials?

Ongoing litigation with PCL Construction Services, Inc. has impacted Monarch Casino & Resort Inc.'s net income and diluted EPS, with significant legal and consulting costs during 2023 and 2022.

What types of games are available at the Atlantis Casino Resort Spa?

The Atlantis Casino Resort Spa offers around 1,450 slot and video poker machines, 37 table games including blackjack, craps, and roulette, a race and sports book, a 24-hour live keno lounge, and a poker room.

How does Monarch Casino & Resort Inc. ensure customer satisfaction?

Monarch Casino & Resort Inc. focuses on enhancing its gaming and hospitality offerings, providing a premium experience for its guests through its state-of-the-art facilities and strategic customer service initiatives.

What retail options are available at the Atlantis Casino Resort Spa?

The Atlantis Casino Resort Spa features two retail outlets offering a variety of clothing and gift shop merchandise.

What unique amenities does the Atlantis Casino Resort Spa offer?

Unique amenities at the Atlantis Casino Resort Spa include a 30,000 square-foot health spa and salon with an enclosed pool, an 8,000 square-foot family entertainment center, and extensive banquet, convention, and meeting room space.

Monarch Casino & Resort, Inc.

Nasdaq:MCRI

MCRI Rankings

MCRI Stock Data

1.29B
18.74M
30.51%
66.38%
3.03%
Casinos (except Casino Hotels)
Arts, Entertainment, and Recreation
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United States of America
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