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) 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.
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.
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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