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Monarch Casino and Resort, Inc. To Ring Nasdaq Stock Market Opening Bell

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.

Diane Mulligan PR Contact, M&C Communications | on behalf of Monarch Casino Resort Spa

 

About Monarch Casino Resort Spa

Monarch Casino & Resort, Inc. acquired the Monarch Casino Black Hawk, the first casino encountered by visitors arriving from Denver on Highway 119, in April 2012. The first phase of the property’s expansion occurred in November 2020, including the opening of the first 8 floors of a brand new 23-story hotel tower, featuring 200 hotel rooms. The expansion now pushes Monarch’s casino space over 60,000 square feet, featuring over 900 slot machines, table games (temporarily closed due to COVID-19 restrictions), a 350 seat buffet-style restaurant, a 24-hour restaurant, grab and go coffee stand, 5,000 square feet of conference space and a parking structure with approximately 1,350 parking spaces. Once completed, the Monarch Casino Resort Spa expansion will include a 23-story hotel tower with 516 guest rooms and suites, an upscale spa and pool facility, five total restaurants, additional bars and associated support facilities.

About Monarch Casino & Resort, Inc.

Monarch Casino & Resort, Inc. (NASDAQ: MCRI), was incorporated in 1993 and through its wholly-owned subsidiaries, owns and operates the four diamond Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Black Hawk (formerly the Riviera Black Hawk Casino) in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information, visit MonarchCasino.com.

Monarch Casino Resort Spa
488 Main Street
Black Hawk, CO 80422