John Farahi, CEO and co-chairman of the board of Monarch Casino & Resorts, declared “record financial results” for both the quarter and full year ending December 31, 2024.
In the 2024 fourth quarter, the company generated net revenue of US$134.5m up from $128.2m year-on-year.
Fourth quarter net revenue was $134.5m, while EBITDA was $47.3m, which gave a record fourth quarter EBITDA margin of 35.1 per cent.
“Our performance in the fourth quarter and full year clearly underpins the effectiveness of Monarch’s operating strategies and our ability to drive sustained growth,” said Farahi.
“Monarch Black Hawk continues to grow market share and increase revenue across all its business segments. The property benefited from its position as the premier resort casino in Colorado. Our luxury resort offerings and exceptional service continue to attract and retain mid-to-upper tier guests from the Denver and Boulder metro areas.
“In Reno, Atlantis is near the completion of approximately $100m in capital investment in the redesign and upgrade of the property’s hotel rooms. We anticipate that the last stage of the project, which includes work on the remaining 246 hotel rooms, will be completed in phases by the second quarter of 2025.
“To introduce our new luxury’ hotel rooms to the public, we are launching a ‘Once is All it Takes’ brand campaign. We continue to focus on implementing new technologies and processes across the property, which we believe will be financially rewarding over the long-term.”
