Monarch Casino and Resort, Inc. To Ring Nasdaq Stock Market Opening Bell
Parent company of Monarch celebrates quarterly earnings record
Monarch Casino and Resort, Inc. (Nasdaq: MCRI) will be ringing the Nasdaq opening bell Monday, May 10 in a virtual event that will be streamed online and on the Nasdaq Tower in New York City’s historic Times Square. The iconic bell ringing ceremony, hosted by a Nasdaq senior executive, will give Monarch the opportunity to showcase the company while celebrating milestones and achievements at its award-winning properties: Reno-based Atlantis Casino Resort Spa and Monarch Casino Resort Spa in Black Hawk, Colorado.
Last week, Monarch reported an all-time high net revenue of $75 million for the first quarter of 2021, a 46.9% increase from the first quarter of 2020.
“Our overall first quarter performance demonstrated Monarch’s success in capturing a higher share of the pent-up demand that seems evident across the gaming industry – particularly in regional gaming markets,” said John Farahi, Co-Chairman and CEO of Monarch. “As the recovery momentum builds over the course of 2021 and into 2022, we believe that our Reno and Black Hawk markets will enable us to generate strong returns. At the same time, we continue to reduce leverage and further improve our balance sheet, positioning the company to evaluate and pursue attractive acquisition opportunities that can drive long-term growth and enhance stockholder value.”
Colorado’s Amendment 77, which was passed last November and went into effect May 1st, allows unlimited single bets and the addition of new casino games such as baccarat and keno. The new amendment gives Monarch Casino Resort Spa the ability to offer guests an elevated gaming experience.
“Given the overwhelming response to our new resort, we believe that Monarch Casino Resort Spa has already established itself as a premier destination gaming resort in the state and we are confident in our ability to take an outsized share of the market growth anticipated from the Amendment 77-driven changes,” said Farahi.
Monday’s opening bell ceremony will be streamed live from 6:15 am to 6:30 am PT at https://www.nasdaq.com/marketsite/bell-ringing-ceremony.
An on-demand version of the ceremony will be available afterwards at http://www.facebook.com/nasdaq.
To obtain a high-resolution photo of the ceremony, visit https://www.nasdaq.com/marketsite/bell-ringing-ceremony and click on the market open of your choice.