Business
Monarch Casino & Resort Reports Record Second Quarter 2025 Financial Results
RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) (“Monarch” or “the Company”) today reported operating results for
About this update from Monarch Casino & Resort, Inc.
[{"type":"text","content":"RENO, Nev., July 16, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) (“Monarch” or “the Company”) today reported operating results for the second quarter ended June 30, 2025, as summarized below: ($ in thousands, except per share data and percentages) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 Increase 2025 2024 IncreaseNet revenue$136,914 $128,143 6.8% $262,308 $249,800 5.0% Net income 27,008 22,682 19.1% 46,872 40,957 14.4% Adjusted EBITDA(1)$51,289 $43,923 16.8% $92,420 $82,471 12.1% Basic EPS$1.47 $1.21 21.5% $2.55 $2.16 18.1%Diluted EPS$1.44 $1.19 21.0% $2.50 $2.12 17.9% (1) Definitions, disclosures and reconciliations of non-GAAP financial information are included later in the release. CEO Comment“Monarch delivered record second quarter financial results. Net revenue increased 6.8% year-over-year to $136.9 million, driven by strong casino revenues, which rose 12.1% over the same period a year-ago. Our focus on technology and operational efficiencies drove an operating margin increase of approximately 320 basis points over the prior year period to a second quarter Adjusted EBITDA margin of 37.5%. Adjusted EBITDA increased 16.8% year-over year to $51.3 million. “At Atlantis, during the quarter we completed the multi-year $100 million redesign and upgrade of our hotel rooms. Our new luxury hotel rooms and suites are providing guests with an elevated and unmatched regional hospitality experience, resulting in market share gains. The U.S. News & World Report 2025 Best Hotels ranked Atlantis the No. 1 hotel in Reno. “At Monarch Black Hawk, we continue to increase market share, especially among mid-to-upper-tier guests from the Denver and Boulder metro areas. Recently, Wine Spectator awarded our Bistro Mariposa and Monarch Chophouse with Best of Award of Excellence, joining our Atlantis restaurants Bistro Napa and Atlantis Steakhouse with the same distinctions.” Summary of 2025 Second Quarter Operating ResultsIn the second quarter of 2025, the Company generated net revenue of $136.9 million compared to $128.1 million in the corresponding prior-year period. Casino revenue increased 12.1% compared to the prior year, food and beverage revenue (“F&B”) increased 1.1%, while hotel revenues declined (3.1%), compared to the prior-year period, as there was less convention group business than in t...