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. reports recurring developments tied to its casino resort operations in Reno, Nevada, and Black Hawk, Colorado. Through its subsidiaries, the company owns and operates Atlantis Casino Resort Spa and Monarch Casino Resort Spa, with revenue categories that include casino gaming, food and beverage, and hotel operations.
Company news commonly covers quarterly and annual operating results, adjusted EBITDA commentary, property-level market share trends, cash dividends, share repurchases, and capital investment in resort amenities. Updates also include hospitality and gaming features such as slots, table games, dining, spa services, sports book operations, guest programs, charitable initiatives, and third-party recognition for resort amenities.
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Monarch Casino & Resort, Inc. (MCRI) reported a strong first quarter in 2023, with net revenue reaching $116.6 million, up 7.7% from the previous year. Adjusted EBITDA also set a record at $36.5 million, marking a 6.2% increase. The company declared a cash dividend of $0.30 per share payable on June 15, 2023, part of an annual dividend commitment of $1.20 per share. The performance was notably driven by growth in the Black Hawk market, although Reno's results were affected by severe weather disruptions. Despite a 2.5% decline in net income to $17.7 million and 2.2% drop in diluted EPS to $0.90, the company maintains a solid balance sheet with cash of $34 million and plans for continued investments in its properties.
Monarch Casino & Resort, Inc. (MCRI) will release its 2023 Q1 financial results after market close on April 19, 2023. The company operates the Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Resort Spa in Black Hawk, Colorado. The Atlantis features over 61,000 square feet of casino space, 818 guest rooms, and various dining and entertainment options. The Monarch Black Hawk boasts around 60,000 square feet of casino space and offers 516 guest rooms. Investors should note the upcoming earnings announcement as it may influence future stock performance.