Monarch generates first quarter record in Black Hawk and Reno
In the first quarter of 2025, Monarch Casino & Resort, which operates Monarch Casino Resort Spa in Black Hawk, Colorado, and the Atlantis Casino Resort Spa in Reno, Nevada, enjoyed a record-breaking quarter with net revenue of $125.4m compared to $121.7m in the corresponding prior-year period.
Casino revenue increased five per cent compared to the prior year, while food and beverage and hotel revenue decreased 0.5 per cent and 0.4 per cent, respectively, compared to the prior-year period. F&B and hotel revenues were affected by the calendar (one less day in first quarter of 2025 than the first quarter of 2024) and lower available rooms in the first quarter of 2025 compared to the same period in 2024.
John Farahi, Chief Executive Officer, said: “Monarch delivered strong financial results in the first quarter. Net revenue increased 3.1 per cent year-over-year to a first quarter record of $125.4m, and Adjusted EBITDA increased 6.7 per cent year-over-year to a record $41.1m. Our first quarter operating margin improved 110 basis points over the prior year same period to a first quarter record of 32.8 per cent. The first quarter financial performance underscores the effectiveness of our operating strategies and our ability to drive sustained growth. We continue to focus on implementing new technologies and processes across the properties to further elevate operating efficiencies and guest satisfaction.
“Monarch Black Hawk continues to benefit from the property’s position as the premier luxury casino resort in Colorado. We continue to increase market share, especially among the mid-to-upper-tier guests from the Denver and Boulder metro areas.
“In Reno, Atlantis is near the completion of approximately $100m in capital investments in the redesign and upgrade of the property’s hotel rooms. The remaining 76 hotel rooms are anticipated to be completed before the upcoming Memorial Day weekend.”
