Welcome to our dedicated page for Monarch Casino news (Ticker: MCRI), a resource for investors and traders seeking the latest updates and insights on Monarch Casino stock.
Monarch Casino & Resort, Inc. (NASDAQ: MCRI) is a gaming and hospitality company that owns and operates the Monarch Casino Resort Spa in Black Hawk, Colorado, and the Atlantis Casino Resort Spa in Reno, Nevada. The MCRI news feed on Stock Titan aggregates company-issued updates and other coverage related to its casino, food and beverage and hotel operations.
Investors and observers following MCRI news can expect regular earnings releases detailing net revenue, net income and Adjusted EBITDA, along with commentary on casino, food and beverage and hotel performance. Recent quarters have included reports of record or strong financial results, as well as discussions of operating margins, capital expenditures for property upgrades and the use of operating cash flow for dividends and share repurchases.
News items also highlight property-level developments and recognition. Examples include U.S. News & World Report naming Atlantis Casino Resort Spa the No. 1 hotel in Reno and USA Today’s 10Best Readers’ Choice Travel Awards ranking Spa Monarch among the top hotel spas in the United States. Company announcements describe enhancements to hotel rooms at Atlantis and amenities at Monarch Black Hawk, such as spa facilities and dining options.
In addition, Monarch issues news regarding legal and regulatory matters, such as litigation related to construction at Monarch Casino Resort Spa Black Hawk and subsequent financial statement adjustments. The MCRI news page brings together these earnings updates, property announcements, legal disclosures and dividend declarations in one place, providing a consolidated view of developments affecting Monarch Casino & Resort, Inc.
Monarch Casino & Resort (NASDAQ: MCRI) has scheduled its 2025 first quarter financial results release for Tuesday, April 22, 2025, after market close. The announcement will provide insights into the company's financial performance for Q1 2025.
Monarch Casino & Resort (NASDAQ: MCRI) has announced significant adjustments to its Q4 and full-year 2024 financial results following a court decision in its litigation with PCL Construction Services. The District Court of Denver awarded PCL damages of $74.7 million, while Monarch received $144,894 for its counterclaims, resulting in a net judgment of $74.6 million against Monarch.
The company has adjusted its balance sheet to reflect an additional $27.6 million liability, recorded as 'Loss on Litigation.' This adjustment has substantially impacted the previously reported results:
- Q4 2024 net income decreased from $25.5M to $4.2M
- Full-year 2024 net income reduced from $94.1M to $72.8M
- Q4 diluted EPS dropped from $1.36 to $0.22
- Full-year diluted EPS declined from $4.96 to $3.84
Monarch plans to appeal the decision to the Colorado Court of Appeals. The company noted that Adjusted EBITDA remains unaffected by these adjustments.
Monarch Casino & Resort (Nasdaq: MCRI) has been recognized as one of America's most successful small companies by Forbes, ranking 79th on the 2025 list. This marks the third recognition in four years for Monarch, which operates Atlantis Casino Resort Spa in Reno, Nevada and Monarch Casino Resort Spa in Black Hawk, Colorado.
The company demonstrated strong performance with a 52-week return of 34% and revenue of $516 million as of November 8, 2024. Forbes evaluated 914 companies with market values between $300 million and $2 billion, selecting the top 100 based on earnings growth, sales growth, return on equity, and total stock return over both the latest 12 months and five-year periods.
Notably, Monarch is the only northern Nevada company to make this prestigious list. CEO John Farahi attributed the success to team dedication, innovation, and consistent property reinvestment strategy.
Atlantis Casino Resort Spa in Reno has achieved notable recognition with two Forbes Four-Star Awards for its Atlantis Steakhouse and Spa Atlantis. The property stands as the only establishment in Reno acknowledged by Forbes Travel Guide, the leading authority on hospitality excellence.
Spa Atlantis, a 30,000-square-foot facility, has maintained its Four-Star status for 10 consecutive years, joining an elite group of only 224 spas worldwide with this distinction. The Atlantis Steakhouse, receiving the award for the second time, is northern Nevada's sole Forbes Four-Star restaurant, among just 131 worldwide.
The steakhouse features premium cuts from Allen Brothers of Chicago and Japanese Wagyu from Kumamoto, supported by a wine selection that has earned the Wine Spectator Award of Excellence for 24 straight years. Additionally, both the Atlantis Hotel and Bistro Napa have maintained Forbes Recommended ratings for 10 consecutive years, demonstrating consistent excellence in service and facilities.
Monarch Casino & Resort (MCRI) reported record financial results for Q4 2024, with net revenue increasing 4.9% to $134.5 million and net income rising 40.1% to $25.5 million compared to Q4 2023. The company's adjusted EBITDA grew 9.9% to $47.3 million, achieving a record fourth quarter EBITDA margin of 35.1%.
Casino and hotel revenues increased by 6.0% and 8.3% respectively, while food and beverage revenue slightly decreased by 0.7%. The company maintains a strong financial position with $58.8 million in cash and no borrowings against its credit facility. Monarch Black Hawk continues to gain market share in Colorado, while Atlantis in Reno is nearing completion of a $100 million hotel room upgrade project, expected to finish by Q2 2025.
The company declared a quarterly cash dividend of $0.30 per share, payable on March 15, 2025, as part of its annual dividend program of $1.20 per share.
Monarch Casino & Resort (NASDAQ: MCRI) has announced it will release its fourth quarter 2024 financial results after market close on Tuesday, February 11, 2025. The announcement is a standard earnings release notification.
Monarch Casino & Resort (NASDAQ: MCRI) reported strong Q3 2024 results with record net revenue of $137.9 million, up 3.7% year-over-year, and net income of $27.6 million, increasing 14.2%. Casino and hotel revenues grew by 3.4% and 5.0% respectively, while food and beverage revenue slightly decreased by 0.2%. The company achieved Adjusted EBITDA of $50.6 million, a 2.9% increase. Diluted earnings per share rose 19.5% to $1.47. The company declared a quarterly cash dividend of $0.30 per share, payable December 15, 2024. During Q3, Monarch purchased 131,285 shares for $9.6 million and maintained a strong balance sheet with $39.4 million in cash.
Monarch Casino & Resort, Inc. (NASDAQ: MCRI) has announced that it will release its 2024 third quarter financial results after the market closes on Wednesday, October 23, 2024. This announcement sets the date for investors and analysts to review the company's performance for the third quarter of the fiscal year 2024.
Bistro Napa at Atlantis Casino Resort Spa has received the prestigious AAA Four Diamond designation, making Atlantis the only property in northern Nevada with multiple AAA Four Diamond restaurants and a Four Diamond hotel. This achievement places Bistro Napa among the top 10% of AAA Diamond restaurant listings, recognized for distinctive fine dining and upscale ambience.
The restaurant features a wine country-inspired menu that changes seasonally, with signature dishes like Pan Roasted Chilean Sea Bass and Cabernet-Braised Boneless Short Ribs. A 4,000-bottle wine cellar serves as the centerpiece, offering private dining experiences. Under Sommelier Christian O'kuinghttons, Bistro Napa has earned the Wine Spectator Award of Excellence for 23 consecutive years.
This recognition aligns with Atlantis Casino Resort Spa's mission to provide the ultimate resort experience with luxurious accommodations, premier dining, and exceptional hospitality.
Spa Monarch at Monarch Casino Resort Spa has been voted the #2 hotel spa in the nation by USA Today readers, moving up from 4th place in 2023. This recognition highlights the spa's exceptional treatments, world-class amenities, and attentive staff. Located on the 23rd floor of Monarch Casino's hotel in Black Hawk, Colorado, Spa Monarch offers luxurious facilities including an aqua spa, mountain stone bath steam room, and light therapy lounge.
The spa's success is attributed to its consistent service and the breathtaking views of the Rocky Mountains. Monarch Casino Resort Spa, situated just 45 minutes from Denver, features a 60,000 square foot gaming area, multiple dining options, and 516 luxury hotel rooms. In 2023, it was also voted the 4th "Best Overall Casino Outside of Las Vegas" by Newsweek readers.