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Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates hotels and casinos. It owns and operates hotels and casinos under the Atlantis Casino Resort Spa in Reno, Nevada and the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company also owns separate parcels of land. In addition, it owns and operates The Toucan Charlie's Buffet & Grille, which offers a variety of food selections; The Atlantis Steakhouse, a fine dining destination; The Bistro Napa, which features wine country cuisine; The Oyster Bar on the Sky Terrace, which offers pan roasts made-to-order, fresh seafood, cioppino, house made chowder, and bisques; Sushi Bar, which serves sushi rolls; The Purple Parrot coffee shop, which serves breakfast and American comfort food; The Red Bloom Asian kitchen, which offers Asian dishes; The Manhattan Deli, which offers matzo ball soup, piled high sandwiches, salads, house made soups, bagels and lox, New York style pizza, and New York cheesecake; and The Chicago Dogs Eatery, a snack bar that serves Chicago-style hot dogs, pizza, ice cream, and arcade-style refreshments, as well as two gourmet coffee bars that offer coffee drinks, sandwiches, house made gelato, and freshly baked pastries. Monarch Casino & Resort, Inc. was incorporated in 1993 and is based in Reno, Nevada.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $545M | $182M | $101M | $128M | 18.9% | 4.4% | 39.3% |
| 2024 | $522M | $144M | $73M | $93M | 14.1% | 4.1% | -11.7% |
| 2023 | $501M | $157M | $82M | $124M | 16.1% | 4.9% | -5.8% |
| 2022 | $478M | $155M | $87M | $100M | 16.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 477.87 | 501.48 | 522.19 | 545.12 |
| Operating Revenue | - | 459.09 | 479.91 | 497.64 | 520.20 |
| Cost Of Revenue | - | 218.28 | 232.30 | 241.37 | 245.07 |
| Gross Profit | - | 259.59 | 269.18 | 280.82 | 300.05 |
| Operating Expense | - | 148.15 | 159.02 | 188.31 | 172.56 |
| Selling General And Administration | - | 97.60 | 105.82 | 108.29 | 109.38 |
| Total Expenses | - | 366.43 | 391.33 | 429.68 | 417.63 |
| Operating Income | - | 111.44 | 110.15 | 92.50 | 127.50 |
| Total Operating Income As Reported | - | 111.44 | 110.15 | 92.50 | 127.50 |
| EBITDA | - | 154.88 | 157.45 | 143.86 | 181.52 |
| Normalized EBITDA | - | 154.88 | 157.45 | 143.86 | 181.52 |
| EBIT | - | 111.44 | 110.15 | 92.50 | 127.50 |
| Interest Expense | 4.51 | 2.42 | 1.62 | 0.10 | - |
| Net Interest Income | - | -2.42 | -1.62 | -0.10 | 1.94 |
| Interest Expense Non Operating | 4.51 | 2.42 | 1.62 | 0.10 | - |
| Net Non Operating Interest Income Expense | - | -2.42 | -1.62 | -0.10 | 1.94 |
| Pretax Income | - | 109.02 | 108.53 | 92.40 | 129.43 |
| Tax Provision | - | 21.54 | 26.08 | 19.63 | 28.04 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Net Income From Continuing And Discontinued Operation | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Net Income From Continuing Operation Net Minority Interest | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Net Income | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Net Income Common Stockholders | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Net Income Including Noncontrolling Interests | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Normalized Income | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Diluted NI Availto Com Stockholders | - | 87.48 | 82.45 | 72.77 | 101.39 |
| Basic Average Shares | - | 19 | 19.24 | 18.61 | 18.28 |
| Diluted Average Shares | - | 19.58 | 19.62 | 18.97 | 18.66 |
| Reconciled Depreciation | - | 43.43 | 47.29 | 51.36 | 54.02 |
| Reconciled Cost Of Revenue | - | 218.28 | 232.30 | 241.37 | 245.07 |
| Depreciation Amortization Depletion Income Statement | - | 43.43 | 47.29 | 51.36 | 54.02 |
| Depreciation And Amortization In Income Statement | - | 43.43 | 47.29 | 51.36 | 54.02 |
| Total Other Finance Cost | - | - | 1.62 | 0.10 | -1.94 |
| Other Operating Expenses | - | 7.12 | 5.91 | 28.67 | 9.16 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Monarch Casino & Resort, Inc.this co. | MCRI | $2.2B | 21.35↑ premium | 4.03 | 18.9% | 11.47 |
| OneSpaWorld Holdings Limited | OSW | $2.4B | 34.02 | 4.49 | 13.2% | 23.48 |
| Under Armour, Inc. | UAA | $2.4B | -4.80 | 1.68 | -35.0% | 54.01 |
| Mister Car Wash, Inc. | MCW | $2.3B | 22.65 | 2.06 | 9.1% | 14.16 |
| LCI Industries | LCII |
| - |
| - |
| - |
| - |
| - |
| - |
| $2.3B |
| 12.39 |
| 1.71 |
| 13.8% |
| 8.12 |
| Under Armour, Inc. | UA | $2.3B | -4.65 | 1.63 | -35.0% | 53.04 |
| Shake Shack Inc. | SHAK | $2.3B | 49.93 | 4.35 | 8.7% | 15.39 |
| The Buckle, Inc. | BKE | $2.2B | 10.70 | 5.28 | 49.4% | 8.21 |
| HNI Corporation | HNI | $2.2B | 39.98 | 1.18 | 3.0% | 15.21 |
| Peer Median | - | 17.52 | 1.89 | 8.9% | 15.30 | |