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Reno's Atlantis Casino Resort Spa earns pair of prestigious Forbes Four-Star Awards
Newsfilter· 2025-02-12 20:46
Core Insights - Atlantis Casino Resort Spa's Atlantis Steakhouse and Spa Atlantis have received the Forbes Travel Guide Four-Star Award, highlighting their luxurious offerings and exceptional guest service [1][2] - Spa Atlantis has been awarded the Four-Star Award for ten consecutive years, while Atlantis Steakhouse is a two-time recipient [1][2] - Atlantis Casino Resort Spa is the only property in Reno recognized by Forbes Travel Guide, emphasizing its status in the hospitality industry [1] Company Overview - Owned and operated by Monarch Casino & Resort, Inc. (NASDAQ:MCRI), Atlantis Casino Resort Spa is ranked as the 1 Reno resort on TripAdvisor and holds the AAA Four Diamond designation [5] - The resort is located near Lake Tahoe and offers a range of activities including hiking, skiing, and golfing [5] - Atlantis Casino Resort Spa features luxurious accommodations, award-winning dining, and entertainment options [5] Dining and Spa Highlights - Atlantis Steakhouse is the only Forbes Four-Star restaurant in northern Nevada, known for its high-quality steaks and an award-winning wine selection [2] - Spa Atlantis spans 30,000 square feet and offers a variety of luxurious treatments, making it one of only 224 spas worldwide to receive a Forbes Four-Star Award [3] - The spa includes amenities such as treatment rooms, saunas, pools, and a fitness center [3] Recognition and Standards - Forbes Travel Guide's evaluations are based on up to 900 objective standards, focusing on exceptional service [4] - The Atlantis Hotel and Bistro Napa has received the Recommended rating from Forbes Travel Guide for ten consecutive years, indicating consistent excellence in service and facilities [4]
Reno’s Atlantis Casino Resort Spa earns pair of prestigious Forbes Four-Star Awards
Globenewswire· 2025-02-12 20:46
Core Points - Atlantis Casino Resort Spa's Atlantis Steakhouse and Spa Atlantis have received the Forbes Travel Guide Four-Star Award, marking the 10th consecutive year for Spa Atlantis and the second for Atlantis Steakhouse [1][2] - Atlantis Casino Resort Spa is the only property in Reno recognized by Forbes Travel Guide, highlighting its luxurious offerings and exceptional guest service [1][2] Company Overview - Owned and operated by Monarch Casino & Resort, Inc. (Nasdaq: MCRI), Atlantis Casino Resort Spa is consistently ranked as the 1 resort in Reno on TripAdvisor and has received the AAA Four Diamond designation [5] - The resort is located near Lake Tahoe and offers a range of activities including hiking, skiing, and golfing, enhancing its appeal as a premier destination in northern Nevada [5] Dining and Spa Experience - Atlantis Steakhouse is the only Forbes Four-Star restaurant in northern Nevada, featuring a menu with high-quality steaks and an award-winning wine selection recognized by Wine Spectator for 24 consecutive years [2] - Spa Atlantis, covering 30,000 square feet, offers luxurious treatments and facilities, and is one of only 224 spas worldwide to receive a Forbes Four-Star Award [3] Recognition and Standards - The Atlantis Hotel and Bistro Napa have received the Recommended rating from Forbes Travel Guide for 10 consecutive years, indicating consistent excellent service and facilities [4] - Forbes' evaluations are based on up to 900 objective standards, emphasizing exceptional service to help travelers select luxury experiences [4]
Monarch Casino Q4 Earnings & Revenues Top, Adjusted EBITDA Up Y/Y
ZACKS· 2025-02-12 18:16
Core Insights - Monarch Casino & Resort, Inc. (MCRI) reported strong fourth-quarter 2024 results, with adjusted earnings and net revenues exceeding expectations and showing year-over-year growth [1][4] Financial Performance - Adjusted EPS for Q4 was $1.36, surpassing the Zacks Consensus Estimate of $1.15 by 18.3%, compared to $0.93 in the same quarter last year [4] - Net revenues reached $134.5 million, exceeding the consensus mark of $129 million by 4.3% and growing 4.9% year over year [4] - Casino and Hotel revenues increased to $77.1 million and $18.2 million, respectively, from $72.7 million and $16.8 million in the prior year [5] - Other revenues grew by 13.5% year over year to $6.6 million, while food and beverage revenues slightly declined to $32.6 million from $32.8 million [5] Operational Highlights - Income from operations was $31.5 million, up from $25.4 million in the prior-year quarter [6] - Total operating expenses increased by 0.2% year over year to $103 million, attributed to higher costs in various business segments [6] - SG&A expenses decreased to $27.8 million from $28.7 million, mainly due to lower labor and advertising costs [7] - Adjusted EBITDA rose by 9.9% to $47.3 million from $43 million in the previous year [7] Annual Performance - For the full year 2024, net revenues increased by 4.1% to $522.2 million [8] - Adjusted EBITDA for the year was $180.4 million, up 5.6% from $170.8 million [8] - The company reported an adjusted EPS of $4.96 for the full year, an increase of 18.1% from $4.20 in 2023 [8] Balance Sheet and Dividends - As of December 31, 2024, cash and cash equivalents totaled $58.8 million, up from $43.4 million a year earlier [10] - Inventories increased to $9.3 million from $7.6 million [10] - The company had no long-term debt at the end of 2024, compared to $5.5 million at the end of 2023 [10] - A quarterly cash dividend of $0.30 per share was declared, payable on March 15, 2025 [10] Future Outlook - The company is optimistic about its Atlantis property, which is undergoing approximately $100 million in redesign and upgrades, expected to be completed by Q2 2025 [3] - MCRI plans to continue implementing efficient operating strategies and making profitable investments to drive future growth [3]
Compared to Estimates, Monarch Casino (MCRI) Q4 Earnings: A Look at Key Metrics
ZACKS· 2025-02-12 00:01
Core Insights - Monarch Casino (MCRI) reported revenue of $134.51 million for Q4 2024, marking a year-over-year increase of 4.9% and exceeding the Zacks Consensus Estimate by 4.27% [1] - The company's EPS for the same quarter was $1.36, up from $0.93 a year ago, representing an EPS surprise of 18.26% compared to the consensus estimate of $1.15 [1] Revenue Breakdown - Other Revenues: $6.63 million, exceeding the three-analyst average estimate of $5.53 million, with a year-over-year change of +13.5% [4] - Hotel Revenues: $18.21 million, surpassing the three-analyst average estimate of $17.40 million, reflecting a year-over-year increase of +8.3% [4] - Food and Beverage Revenues: $32.58 million, slightly above the estimated $31.83 million, but showing a year-over-year decline of -0.7% [4] - Casino Revenues: $77.09 million, exceeding the average estimate of $74.27 million, with a year-over-year increase of +6% [4] Stock Performance - Shares of Monarch Casino have returned +8.2% over the past month, outperforming the Zacks S&P 500 composite's +4.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]
Monarch Casino (MCRI) Beats Q4 Earnings and Revenue Estimates
ZACKS· 2025-02-11 23:26
Company Performance - Monarch Casino reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.15 per share, and up from $0.93 per share a year ago, representing an earnings surprise of 18.26% [1] - The company posted revenues of $134.51 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 4.27%, compared to $128.19 million in the same quarter last year [2] - Over the last four quarters, Monarch Casino has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times as well [2] Stock Performance - Monarch Casino shares have increased approximately 8.3% since the beginning of the year, outperforming the S&P 500's gain of 3.1% [3] - The current consensus EPS estimate for the upcoming quarter is $1.05 on revenues of $123.8 million, and for the current fiscal year, it is $5.01 on revenues of $526.8 million [7] Industry Outlook - The Gaming industry, to which Monarch Casino belongs, is currently ranked in the top 17% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]
Monarch Casino & Resort(MCRI) - 2024 Q4 - Annual Results
2025-02-11 21:53
Financial Performance - Fourth quarter net revenue reached $134.5 million, a 4.9% increase from $128.2 million in Q4 2023[1] - Net income for the fourth quarter increased by 40.1% to $25.5 million, compared to $18.2 million in the same period last year[1] - Adjusted EBITDA for Q4 2024 was $47.3 million, reflecting a 9.9% increase from $43.0 million in Q4 2023[1] - Basic earnings per share rose to $1.39, a 47.9% increase from $0.94 in Q4 2023[1] - Net income for Q4 2024 was $25,495,000, an increase of 40.5% compared to $18,202,000 in Q4 2023[23] - Adjusted EBITDA for Q4 2024 reached $47,280,000, up 9.6% from $43,003,000 in Q4 2023[23] - Basic earnings per share for Q4 2024 was $1.39, compared to $0.94 in Q4 2023, reflecting a 47.8% increase[23] - Diluted earnings per share for the full year 2024 was $4.96, up from $4.20 in 2023, an increase of 18.1%[23] Revenue Breakdown - Casino revenue increased by 6.0% to $77.1 million in Q4 2024, while hotel revenue grew by 8.3% to $18.2 million[5] Expenses and Costs - Selling, general and administrative expenses decreased to $27.8 million, down from $28.7 million in Q4 2023, representing 20.7% of net revenue[6] - The company reported stock-based compensation expenses of $2,275,000 for Q4 2024, slightly down from $2,580,000 in Q4 2023[23] Capital Expenditures - Capital expenditures in Q4 2024 totaled $10.7 million, funded from operating cash flow, primarily for hotel room upgrades[8] Shareholder Returns - The company declared a cash dividend of $0.30 per share, payable on March 15, 2025, as part of an annual dividend of $1.20 per share[10] Strategic Initiatives - Monarch is evaluating potential M&A transactions to drive long-term value for shareholders[9] - The company anticipates completing the final phase of hotel room renovations at Atlantis by the second quarter of 2025[4] Asset and Equity Growth - Total current assets increased to $90,422,000 in 2024 from $74,966,000 in 2023, reflecting a growth of 20.5%[21] - Cash and cash equivalents rose to $58,760,000 in 2024, compared to $43,361,000 in 2023, marking a 35.5% increase[21] - Total assets grew to $691,583,000 in 2024, up from $680,873,000 in 2023, indicating a 1.0% increase[22] - Stockholders' equity increased to $539,032,000 in 2024 from $513,140,000 in 2023, representing a growth of 5.1%[22] - Total liabilities decreased to $152,551,000 in 2024 from $167,733,000 in 2023, a reduction of 9.0%[22]
Monarch Casino & Resort Reports Record 2024 Fourth Quarter Financial Results
Globenewswire· 2025-02-11 21:04
Declares Cash Dividend of $0.30 per Share Payable on March 15, 2025RENO, Nev., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) (“Monarch” or “the Company”) today reported operating results for the fourth quarter and full year ended December 31, 2024, as summarized below: ($ in thousands, except per share data and percentages) Three Months Ended December 31, Twelve Months Ended December 31, 2024 2023 Change 2024 2023 <td colspan="2" style="border-top: solid black 1pt ...
Monarch Casino &amp; Resort to Report 2024 Fourth Quarter Results After Market Close on February 11, 2025
Newsfilter· 2025-02-04 22:30
RENO, Nev., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (NASDAQ:MCRI) announced today that it will release its 2024 fourth quarter financial results after the market closes on Tuesday, February 11, 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/casin ...
Monarch Casino & Resort to Report 2024 Fourth Quarter Results After Market Close on February 11, 2025
Globenewswire· 2025-02-04 22:30
RENO, Nev., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (NASDAQ: MCRI) announced today that it will release its 2024 fourth quarter financial results after the market closes on Tuesday, February 11, 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/casi ...
Will Monarch Casino (MCRI) Beat Estimates Again in Its Next Earnings Report?
ZACKS· 2025-02-04 18:10
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Monarch Casino (MCRI) , which belongs to the Zacks Gaming industry.When looking at the last two reports, this casino operator has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 7.25%, on average, in the last two quarters.For the most recent quarter, Monarch Casino was expected to post earnings of $1.37 per share ...