Sharp rise in Monarch’s casino results

Home » Sharp rise in Monarch’s casino results

Record results for the first quarter of 2022 have been recorded by US operator Monarch Casino and Resorts with venues in Nevada and Colorado.

Net revenue was $108.3m, up 44.5 per cent on the $74.9m of 2021. Net income was $18.1m, up 122 per cent on the $8.1m of last year. Adjusted EBITDA was $34.3m, up 50.4 per cent on the $22.8m of 2021.

John Farahi, CEO, said: “We benefited from the full scope of operations at our newly-expanded Monarch Black Hawk (Colorado) casino and the continued growth of market share at that and our other location (the Atlantis, Reno, Nevada).

“The results also benefited form continued healthy overall macroeconomic trends. The labour market pressure and rising inflation could impact further near-term margins.”

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