Monarch Casino & Resort(MCRI)

Search documents
Monarch Casino (MCRI) Q1 Earnings and Revenues Beat Estimates
ZACKSยท 2025-04-22 22:10
Monarch Casino (MCRI) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.96%. A quarter ago, it was expected that this casino operator would post earnings of $1.15 per share when it actually produced earnings of $1.36, delivering a surprise of 18.26%.Over the last four quarters, the co ...
Monarch Casino & Resort(MCRI) - 2025 Q1 - Quarterly Results
2025-04-22 21:21
Financial Performance - Net revenue for Q1 2025 reached a record $125.4 million, up 3.1% from $121.7 million in Q1 2024[1][4] - Net income increased by 8.7% to $19.9 million, with diluted EPS rising 12.9% to $1.05 compared to $0.93 in the prior year[1][6] - Adjusted EBITDA for Q1 2025 was $41.1 million, reflecting a 6.7% increase from $38.5 million in Q1 2024[1][6] - Casino revenue grew by 5.0% year-over-year, while food and beverage and hotel revenues decreased by 0.5% and 0.4%, respectively[4] - The operating margin improved by 110 basis points to a record 32.8% in Q1 2025[2] Expenses and Efficiency - SG&A expenses as a percentage of net revenue decreased to 21.7% from 22.3% in the prior year, indicating improved operational efficiency[5] - The company reported stock-based compensation expenses of $2,127 thousand for Q1 2025, compared to $1,778 thousand in Q1 2024, an increase of about 19.6%[21] - The provision for income taxes was $5,770 thousand for Q1 2025, slightly higher than $5,542 thousand in Q1 2024, indicating an increase of approximately 4.1%[21] Capital Expenditures and Investments - Capital expenditures for Q1 2025 totaled $16 million, funded from operating cash flow, including ongoing upgrades at Atlantis[7] - Approximately $100 million in capital investments are nearing completion for the redesign and upgrade of hotel rooms at Atlantis[3] - Monarch is evaluating potential M&A transactions to drive long-term value for shareholders[8] Assets and Liabilities - Total assets increased to $712,086 thousand as of March 31, 2025, up from $691,583 thousand at December 31, 2024, representing a growth of approximately 2.2%[19] - Total current assets rose to $103,311 thousand as of March 31, 2025, compared to $90,422 thousand at the end of 2024, marking an increase of around 14.2%[19] - Total liabilities increased slightly to $176,451 thousand as of March 31, 2025, from $173,835 thousand at December 31, 2024, a change of about 0.9%[19] - Retained earnings grew to $532,676 thousand as of March 31, 2025, up from $518,350 thousand at the end of 2024, representing an increase of approximately 2.8%[19] - Cash and cash equivalents increased to $75,090 thousand as of March 31, 2025, compared to $58,760 thousand at December 31, 2024, a significant rise of about 27.8%[19] - Accounts payable decreased to $38,803 thousand as of March 31, 2025, down from $41,243 thousand at the end of 2024, reflecting a decline of approximately 5.9%[19] Dividends - The company declared a cash dividend of $0.30 per share, payable on June 15, 2025, as part of an annual dividend of $1.20 per share[8][9]
Monarch Casino & Resort to Report 2025 First Quarter Results After Market Close on April 22
Newsfilterยท 2025-04-09 21:00
Core Viewpoint - Monarch Casino & Resort, Inc. is set to release its first quarter financial results for 2025 on April 22, 2025, after market close [1] Company Overview - Monarch Casino & Resort, Inc. operates two main properties: Monarch Casino Resort Spa in Black Hawk, Colorado, and Atlantis Casino Resort Spa in Reno, Nevada [2] - Monarch Black Hawk features 516 guest rooms, approximately 60,000 square feet of casino space, 1,000 slot machines, 43 table games, and various dining and entertainment options [3] - Atlantis Casino Resort Spa includes 817 guest rooms, around 61,000 square feet of casino space, 1,200 slot and video poker machines, and a variety of food outlets and recreational facilities [4]
Monarch Casino & Resort to Report 2025 First Quarter Results After Market Close on April 22
GlobeNewswire News Roomยท 2025-04-09 21:00
RENO, Nev., April 09, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (NASDAQ: MCRI) announced today that it will release its 2025 first quarter financial results after the market closes on Tuesday, April 22, 2025. About Monarch Casino & Resort, Inc.Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Monarch Casino Resort Spa ("Monarch Black Hawk") in Black Hawk, Colorado, approximately 40 miles west of Denver and the Atlantis Casino Resort Spa ("Atlantis"), a hotel/casino ...
Monarch Casino: Still The Hidden Gem Outside Vegas
Seeking Alphaยท 2025-03-21 13:24
Core Insights - The article discusses the expertise of a specialized equity analyst in the restaurant sector, focusing on various dining segments in the U.S. market [1] Company Analysis - The company, Goulart's Restaurant Stocks, is dedicated to analyzing restaurant stocks across multiple segments, including QSR, fast casual, casual dining, fine dining, and family dining [1] - Advanced analytical models and specialized valuation techniques are employed to provide detailed insights and actionable strategies for investors [1] Industry Engagement - The analyst actively participates in academic and journalistic initiatives, contributing to institutions that promote individual and economic freedom [1] - Previous contributions include columns on monetary policy, financial education, and financial modeling aimed at making these topics accessible to a broader audience [1]
Monarch Casino & Resort(MCRI) - 2024 Q4 - Annual Report
2025-03-03 21:33
Renovation and Expansion - Monarch Casino Resort Spa Black Hawk completed a master planned renovation and expansion at the beginning of 2022, transforming the property into a world-class resort[223]. Economic Environment - The Denver metro economy shows higher than the national average per capita personal income, benefiting Monarch Black Hawk's operations[223]. - The Atlantis Casino Resort Spa is positioned to benefit from local economic growth, despite facing competitive pressures and wage inflation[222]. Revenue Growth and Challenges - The company expects to leverage the expanded operations and the elimination of betting limits in Black Hawk, Colorado, to enhance revenue growth[223]. - Labor challenges are present due to low unemployment in the staffing filter markets, impacting operational efficiency[223]. - The company is actively managing labor challenges and inflationary pressures that are affecting revenue growth and profit margins at Atlantis[222]. Key Performance Indicators - Key Performance Indicators (KPIs) include gaming revenue metrics such as slot coin-in and table games drop, which are critical for managing business performance[225]. - Food and Beverage operations are measured by covers and average revenue per cover, indicating changes in guest preferences and spending habits[227]. - Hotel operations are evaluated using occupancy rate and average daily rate (ADR), with revenue per available room (RevPAR) as a key performance measure[228]. Financial Performance - Net income for the year ended December 31, 2024, was $72.8 million, a decrease of 11.7% from $82.4 million in 2023, with diluted EPS dropping from $4.20 to $3.84, a decrease of 8.6%[231]. - Net revenue increased by $20.7 million, or 4.1%, to $522.2 million in 2024 from $501.5 million in 2023[231]. - Casino revenue rose by 4.1% in 2024, while casino operating expenses as a percentage of revenue increased to 37.2% from 36.4% in 2023[232]. - Food and beverage revenue increased by 0.7% in 2024, with operating expenses as a percentage of revenue rising to 73.7% from 72.4% in 2023[233]. - Hotel revenue grew by 7.6% in 2024, driven by an increase in ADR from $172.62 in 2023 to $182.48 in 2024, and RevPAR increased to $220.28 from $209.71[235]. Expenses and Cash Flow - SG&A expenses increased to $108.3 million in 2024 from $105.8 million in 2023, but as a percentage of net revenue, it decreased to 20.7% from 21.1%[237]. - Capital expenditures for 2024 totaled $43.9 million, down from $51.4 million in 2023, primarily for hotel room upgrades and gaming equipment acquisition[242]. - Net cash provided by operating activities decreased by $32.3 million, or 18.7%, to $140.7 million in 2024 compared to the previous year[246]. - Net cash used in financing activities was $81.5 million in 2024, including $60.0 million for stock repurchases and $22.3 million for dividends[248]. Litigation and Legal Matters - The company expects cash flows to be negatively impacted by outstanding payments related to litigation, with a judgment of $74.6 million issued on February 14, 2025[249]. - The company reported a loss contingency estimate of $75 million related to litigation with PCL Construction Services, which is considered a critical audit matter[275][276]. - The Court awarded damages in favor of PCL of $74,772,551 for breach of contract claims, with a net judgment amount of $74,627,657 against the Company[387]. - The Company anticipates filing an appeal regarding the Court's Judgment and has obtained a supersedeas bond of $25 million[389]. Shareholder Returns - The Company paid a one-time cash dividend of $5.00 per share in 2023 and initiated an annual dividend policy of $1.20 per share starting in Q2 2023[398]. - For the year ended December 31, 2024, the Company paid four cash dividends of $0.30 each under the annual dividend policy, totaling $1.20 per share[399]. Assets and Liabilities - As of December 31, 2024, the company had $58.760 million in cash and cash equivalents, an increase from $43.361 million in 2023[284]. - Total assets as of December 31, 2024, were $691.583 million, up from $680.873 million in 2023, indicating a growth of 1.0%[284]. - The Company has a liability of $9.5 million related to the Parking Lot Lease recognized in the Consolidated Balance Sheet as of December 31, 2024[394]. Stock and Compensation - The Company has authorization to purchase up to 1,950,040 shares under the stock repurchase plan as of December 31, 2024[376]. - The total stock-based compensation expense for the year ended December 31, 2024, was $7,864 thousand, netting to $6,213 thousand after tax benefits[374]. - Stock options outstanding at the end of the period totaled 1,781,740 shares with a weighted average exercise price of $60.89 and an intrinsic value of $31,699,676[368].
Monarch Casino & Resort Reports Adjustments to 2024 Fourth Quarter and Full Year Financial Results
Newsfilterยท 2025-03-03 19:30
Core Points - Monarch Casino & Resort, Inc. reported a court decision awarding PCL Construction Services, Inc. damages of $74,772,551, while Monarch received $144,894 for its counterclaims, resulting in a net judgment of $74,627,657 against Monarch [1][2] - The company plans to appeal the court's decision to the Colorado Court of Appeals and will adjust its fourth quarter and year-end results due to the judgment [2][3] - Monarch's balance sheet as of September 30, 2024, included a liability of $47,008,285 to PCL, which was adjusted to reflect the judgment amount [3] - An adjustment of $27,619,372 was made to Accounts Payable in the December 31, 2024 Balance Sheet, and a corresponding expense item, Loss on Litigation, was recorded [4] - The adjusted net income for the three months and twelve months ended December 31, 2024, was reported as $4,211 thousand and $72,769 thousand, respectively, significantly lower than previously reported figures [7] Financial Adjustments - The previously reported net income for the three months ended December 31, 2024, was $25,495 thousand, and for the twelve months, it was $94,053 thousand [7] - Basic earnings per share for the three months and twelve months ended December 31, 2024, were adjusted to $0.23 and $3.91, respectively, compared to previously reported $1.39 and $5.05 [7] - Diluted earnings per share for the same periods were adjusted to $0.22 and $3.84, down from previously reported $1.36 and $4.96 [7] Company Overview - Monarch Casino & Resort, Inc. operates the Monarch Casino Resort Spa in Black Hawk, Colorado, and the Atlantis Casino Resort Spa in Reno, Nevada [10] - Monarch Black Hawk features 516 guest rooms, approximately 60,000 square feet of casino space, and various dining and entertainment options [11] - Atlantis features 817 guest rooms, approximately 61,000 square feet of casino space, and a wide range of amenities including a health spa and family entertainment center [12]
Monarch Casino & Resort Reports Adjustments to 2024 Fourth Quarter and Full Year Financial Results
Globenewswireยท 2025-03-03 19:30
Core Points - Monarch Casino & Resort, Inc. reported a court decision awarding PCL Construction Services, Inc. damages of $74,772,551, while Monarch received $144,894 for its counterclaims, resulting in a net judgment of $74,627,657 against Monarch [1][2] - The company plans to appeal the court's decision to the Colorado Court of Appeals and will adjust its fourth quarter and year-end results due to the judgment [2][3] - Monarch's balance sheet as of September 30, 2024, included a liability of $47,008,285 to PCL, which was adjusted to reflect the judgment amount [3] - An adjustment of $27,619,372 was made to Accounts Payable in the December 31, 2024 Balance Sheet, and a corresponding expense item, Loss on Litigation, was recorded [4] - The adjusted net income for the three months and twelve months ended December 31, 2024, was reported as $4,211 thousand and $72,769 thousand, respectively, significantly lower than previously reported figures [7] Financial Adjustments - The previously reported net income for the three months ended December 31, 2024, was $25,495 thousand, and for the twelve months, it was $94,053 thousand [7] - Basic earnings per share for the three months and twelve months ended December 31, 2024, were adjusted to $0.23 and $3.91, respectively, down from $1.39 and $5.05 [7] - Diluted earnings per share for the same periods were adjusted to $0.22 and $3.84, compared to previously reported $1.36 and $4.96 [7] Company Overview - Monarch Casino & Resort, Inc. operates the Monarch Casino Resort Spa in Black Hawk, Colorado, and the Atlantis Casino Resort Spa in Reno, Nevada [10] - Monarch Black Hawk features 516 guest rooms, approximately 60,000 square feet of casino space, and various dining and entertainment options [11] - Atlantis features 817 guest rooms, approximately 61,000 square feet of casino space, and a range of amenities including a health spa and family entertainment center [12]
Monarch honored by Forbes as one of America's most successful small companies
Newsfilterยท 2025-02-24 20:17
Group 1: Company Recognition - Monarch Casino & Resort, Inc. has been named one of America's most successful small companies by Forbes, ranking 79th on the 2025 list, marking the third recognition in four years [1][2] - The recognition is attributed to the company's dedication, innovation, and hard work, with a focus on luxury resort offerings and exceptional service [2] Group 2: Financial Performance - Forbes screened 914 companies with a market value between $300 million and $2 billion, ranking the top 100 based on earnings growth, sales growth, return on equity, and total stock return [2] - Monarch posted a 52-week return of 34% and revenue of $516 million as of November 8, 2024 [2] Group 3: Company Operations - Monarch operates two main properties: Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado [4] - Monarch Black Hawk features 516 guest rooms, approximately 60,000 square feet of casino space, and various dining and entertainment options [5] - Atlantis features 817 guest rooms, approximately 61,000 square feet of casino space, and multiple food outlets and entertainment facilities [6]
Monarch honored by Forbes as one of America's most successful small companies
GlobeNewswire News Roomยท 2025-02-24 20:17
Group 1 - Monarch Casino & Resort, Inc. has been recognized by Forbes as one of America's most successful small companies, ranking 79 on the 2025 list, marking the third recognition in four years [1][2] - The company achieved a 52-week return of 34% and reported revenue of $516 million as of November 8, 2024, based on data from FactSet [2] - Forbes screened 914 companies with market values between $300 million and $2 billion, ranking the top 100 based on earnings growth, sales growth, return on equity, and total stock return over the latest 12 months and the last five years [2] Group 2 - Monarch operates two major properties: Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado [4] - Monarch Black Hawk features 516 guest rooms, approximately 60,000 square feet of casino space, and various dining and entertainment options [5] - Atlantis Casino Resort Spa offers 817 guest rooms, approximately 61,000 square feet of casino space, and multiple food outlets and entertainment facilities [6]