Monarch Casino and Resort has reported record operating results for the fourth quarter and full year ended December 31, 2021.
In the 2021 fourth quarter, the company generated net revenue of $111.1m, an increase of 90.3 per cent from $58.4m in the prior-year quarter.
The increase in revenue was driven primarily by the ramp up of operations at the company’s hotel and expanded casino in Black Hawk.
In the fourth quarter of 2020, both Atlantis and Black Hawk revenues were impacted by pandemic-related capacity and other regulatory limitations which remained in effect following the properties’ reopening.
John Farahi, co-chairman and CEO of Monarch, commented: “Our fourth quarter results capped a year of significant operational and financial accomplishments for Monarch.
“In 2021, we successfully transformed our Monarch Black Hawk into a full-scale casino resort spa. On May 1, 2021, we immediately took advantage of the elimination of betting limits in Black Hawk and expanded our game mix.
“At Atlantis in Reno, we completed the redesign and upgrade of our high-end suites on the top two floors of the concierge hotel tower. We believe that all these factors contributed to record fourth quarter and full year financial results.”