Monarch Casino & Resort, Inc. · NASDAQ:MCRI
Monarch Casino & Resort — Shareholder Meeting (May 2026)
27 slides from Monarch Casino & Resort's shareholder meeting presentation, May 27, 2026
Slide 1: Annual Stockholders' Meeting
Annual Stockholders’ Meeting May 27, 2026
Slide 2: Forward Looking Information
Forward Looking Information This presentation contains certain forward-looking information that generally can be identified by the context of the statement or the use of forward-looking terminology, such as “believes,” “estimates,” “anticipates,” “intends,” “expects,” “plans,” “is confident that,” “
Slide 3: Monarch Casino & Resort, Inc. (MCRI) Property Highlights
Monarch Casino & Resort, Inc. (MCRI) Property Highlights Prime locations and assets • Atlantis Casino Resort Spa is located in south Reno, three miles south of downtown, a more affluent area, and connected by a bridge to the Reno-Sparks Convention Center • Monarch Casino Resort Spa is the first prop
Slide 4: Company History
Company History 2008 Phase IV – Atlantis 1999 • Expansion of the 2023 1994 Phase III - Atlantis casino including: Atlantis 1991 Phase II - Atlantis • Third high-rise tower • Large race and • ~61,000 square feet of Phase I – Atlantis • Second high-rise opens, adding: sports book casino space • First
Slide 5: Atlantis Casino Resort Spa Reno
Atlantis Casino Resort Spa Reno
Slide 6: Atlantis Overview
Atlantis Overview Award-winning facility • U.S. News & World Report (2025): Best USA Hotels Gold Badge – No. 1 hotel in Reno • AAA (2025): “Four Diamond” rating for 14th consecutive year • TripAdvisor (2025): Rated #1 Reno resort for 11 consecutive years with 4 of our restaurants consistently ranked
Slide 7: Atlantis GGR Market Share
Atlantis GGR Market Share Atlantis Casino Resort Spa has consistently outperformed the greater Reno-Sparks market for the last 28 years • Primary focus has always been providing best-in-class and best-in-market experiences, amenities, and service Property enhancements • Completed the $100 million ca
Slide 8: Atlantis Hotel Occupancy and Cash ADR
Atlantis Hotel Occupancy and Cash ADR Hotel occupancy rates remain stable Source: Monarch Casino & Resort analysis, Reno-Sparks Convention & Visitors Authority 1. Cash ADR is inclusive of resort fees.
Slide 9: Fast-Growing Reno Metro Market
Fast-Growing Reno Metro Market Washoe County Population of ~500,000 • Reno-Sparks population grew 4.6% since the 2020 census (national average: 2.6%) • 2024 per capita personal income for the Reno metro area was 18% higher than the national average ($86,639 vs. $73,232) • Gaming environment remains
Slide 10: Atlantis' Prime Location
Silver Legacy Circus Circus Rail City Western Village Ramada Reno Atlantis’ Prime Location Downtown Nugget Eldorado Club Cal Neva Baldini’s Ideally located in the heart of south Reno’s restaurant, shopping and convention district Grand Sierra Boomtown Reno, Gold Dust West & J • ~3 miles south of dow
Slide 11: Monarch Casino Resort Spa Black Hawk
Monarch Casino Resort Spa Black Hawk
Slide 12: Monarch Black Hawk Overview
Monarch Black Hawk Overview Amenities include: • 23-story luxurious tower with 516 hotel rooms (20% suites) • ~60,000 square foot casino • ~1,100 slot machines • ~37 table games • 16 poker tables • Keno • Company managed retail and online sports book • World-class spa and pool facility on the top fl
Slide 13: Slide 13
Slide 14: Monarch GGR Market Share
Monarch GGR Market Share1 Monarch Casino Resort Spa has consistently grown market share over the past thirteen years Market share growth has been driven by the end-to-end transformation of the property and exceptional service • Market share gains accelerated in 4Q20 when the first hotel rooms and ex
Slide 15: Black Hawk-Central City Market
50-mile radius Black Hawk-Central City Market Market consists of: • ~21 casinos • ~7,664 slot machines Boulder • ~172 table games • ~49 poker tables • ~1,815 hotel rooms spread across seven gaming facilities Black Hawk Denver Population of ~3 million within a 50-mile radius of Black Hawk Vail • Popu
Slide 16: Prime Property Location
Slot count Z Casino > 600 300 to 600 Sasquatch Bull Durham < 300 Prime Property Location Saratoga Gilpin Wild Card Saloon Red Dolly First property encountered by visitors arriving from Denver and Ameristar Monarch Casino Resort other major population centers via Highway 119 The Lodge Bally’s North S
Slide 17: Denver Metro Area Provides Significant Air Traffic to Las Vegas
Denver Metro Area Provides Significant Air Traffic to Las Vegas Denver is the seventh largest feeder market to Las Vegas Source: Las Vegas Convention and Visitors Authority
Slide 18: Growth Initiatives
Growth Initiatives
Slide 19: Organic Growth Opportunities
Organic Growth Opportunities Strong economic tailwinds in both Reno and Denver • Significant population growth in both markets with economic vitality and job growth Monarch Casino Resort Spa • Colorado Amendment 77, passed in 2020, eliminated betting limits creating an opportunity for additional exp
Slide 20: Other Growth Opportunities
Other Growth Opportunities Substantial free cash flow generation following the completion of the Black Hawk development Company continually evaluates potential M&A with a focus on: • Leveraging development expertise and operational excellence to maximize ROI • Key criteria for target markets is regu
Slide 21: Financial Results
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Slide 22: Consolidated Historical Financial Performance
Consolidated Historical Financial Performance Acquired Colorado Monarch Black Hawk gaming license starts phased opening April 2012 November 2020 Source: Monarch Casino & Resort analysis 1. EBITDA is adjusted for stock option, construction litigation expenses, and one-time charges.
Slide 23: Historical Net Leverage Ratio
Historical Net Leverage Ratio Source: Monarch Casino & Resort analysis 1. EBITDA is adjusted for stock option, construction litigation expenses, and one-time charges.
Slide 24: Income Statement Overview
Income Statement Overview Three Months Ended March 31, $ in 000's, except per share data and percentages 2026 2025 Increase Net Revenue $136,550 $125,394 8.9% Net Income $27,592 $19,864 38.9% Adjusted EBITDA(1) $48,951 $41,131 19.0% Basic EPS $1.55 $1.08 43.5% Diluted EPS $1.52 $1.05 44.8% 1. Defini
Slide 25: Balance Sheet Overview
Balance Sheet Overview • In December 2024, the Company entered into a $ in 000's March 31, 2026 December 31, 2025 Sixth Amended and Restated Credit Agreement Cash and cash equivalents $120,125 $96,468 with a revolving line of credit of $100 million • As of March 31, 2026 the Company has no outstandi
Slide 26: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended March 31, $ in 000's 2026 2025 Net income $27,592 $19,864 Expenses: Stock based compensation $1,953 $2,127 Depreciation and amortization $10,467 $13,215 Provision for income taxes $7,952 $5,770 Interest income, net ($598) ($316) Construction litigati
Slide 27: Monarch Casino & Resort, Inc. 2026 Annual Stockholders' Meeting
Monarch Casino & Resort, Inc. 2026 Annual Stockholders’ Meeting
Monarch Casino & Resort — Shareholder Meeting (May 2026) on 6ix