Monarch Casino and Resort has broken its records for third quarter net revenue, net income and adjusted EBITDA this year, reporting $63m, $9m and $17.5m respectively.
John Farahi, co-chairman and chief executive officer of Monarch, said: “Our net revenue, net income and adjusted EBITDA have improved year over year every quarter for the past three years, with another quarter of solid performance at both properties contributing to the 10 per cent growth in revenue and seven per cent growth in adjusted EBITDA during the third quarter of 2017.
“The strength of the Reno market and ongoing facility enhancements at Atlantis Casino Resort are driving healthy visitation and increased player spend in this very competitive market. Reno’s economy is expanding and we believe that we are well positioned to attain near and long-term growth at Atlantis due to our favourable location, superior product and exceptional guest experience.
“Visitors to Monarch Casino Black Hawk are seeing significant progress on the construction of the hotel tower, which is out of the ground and moving vertical. Despite some construction disruption for our guests, our upgraded existing facility and the discipline of our operating team are generating consistent growth. Revenue gains at Monarch Casino Black Hawk are outpacing the incremental expense related to our temporary shuttle service and expanded valet services offered during the expansion, and we continue to take market share. Our master planned expansion remains on schedule and budget.”
