Monarch Casino & Resort Reports Record Revenue of US$146.3 Million
United States.- 29 October 2026 | www.zonadeazar.com Monarch Casino & Resort has reported its financial results for the third quarter of 2026, achieving record net revenue of US$146.3 million, representing year-on-year growth of 2.4%.
The US casino and hospitality operator also recorded a quarterly Adjusted EBITDA record of US$56 million, while net income increased by 1.4% to US$32 million.
The results reflect growth across its casino, hotel and food and beverage operations, supported by a strategy focused on operational efficiency and continued investment in its properties.
Revenue and Adjusted EBITDA Reach New Records
During the three months ended 30 September 2026, Monarch Casino & Resort recorded improvements across its principal financial indicators.
The results included:
- Net revenue: US$146.3 million, up 2.4%.
- Net income: US$32 million, an increase of 1.4%.
- Adjusted EBITDA: US$56 million, up 2.1%.
- Diluted earnings per share: US$1.76, compared with US$1.69 in 2025.
- Adjusted EBITDA margin: 38.3%.
Revenue exceeded the US$142.8 million reported during the corresponding quarter a year earlier.
Adjusted EBITDA increased from US$54.8 million, confirming another strong period for the company.
Growth Across Casino, Hotel and Hospitality Operations
Revenue growth was supported by positive performances across the group’s principal commercial activities.
During the quarter:
- Casino revenue: increased by 3.4% to US$82.8 million.
- Food and beverage revenue: rose by 1.3% to US$34.3 million.
- Hotel revenue: grew by 0.9% to US$22.7 million.
These improvements demonstrate the importance of a diversified offering combining gaming, accommodation and hospitality services.
Casino operations remained the group’s largest source of revenue.
Atlantis and Monarch Black Hawk Drive Performance
Monarch operates two casino resort properties in the United States.
The first is Atlantis Casino Resort Spa in Reno, Nevada, while the second is Monarch Casino Resort Spa in Black Hawk, Colorado.
Both properties combine land-based casino gaming with hotel accommodation, restaurants and entertainment facilities.
The company attributed its record results to the continued growth of these operations and its ability to maintain strong profitability.
Monarch’s strategy remains focused on improving its properties and enhancing the customer experience.
Statements From CEO John Farahi
John Farahi, Co-Chairman and Chief Executive Officer of Monarch Casino & Resort, highlighted the company’s quarterly performance.
“In the third quarter of 2026, Monarch delivered record quarterly net revenue and adjusted EBITDA. Net revenue increased 2.4% year-over-year to $146.3 million, reflecting growth in casino, food and beverage, and hotel revenues,” he stated.
Farahi also emphasised the company’s profitability.
“The third-quarter 2026 adjusted EBITDA margin remained near record levels at 38.3%,” he added.
The executive said the results demonstrated Monarch’s ability to achieve sustained growth through its two properties.
Operating Efficiency and Cost Management
Effective operating cost management contributed to the company’s financial performance.
During the quarter, selling, general and administrative expenses increased from US$27.5 million to US$29 million.
Monarch attributed the increase primarily to higher legal and employee-related expenses.
However, casino operating expenses as a proportion of casino revenue remained unchanged at 35.8%.
The food and beverage and hotel segments recorded modest efficiency improvements, supported by higher revenue per customer and lower operating costs in certain areas.
US$9.7 Million Invested During the Quarter
Monarch allocated US$9.7 million to capital expenditure during the third quarter.
The investments were financed through operating cash flow.
Key areas included:
- Maintenance and modernisation projects.
- New gaming equipment at both casino properties.
- The purchase of land and a building adjacent to Atlantis Casino Resort Spa.
These investments form part of the company’s strategy to improve its facilities and maintain its competitive position.
US$37 Million in Share Repurchases
During the quarter, Monarch continued executing its share repurchase programme.
The company acquired 300,859 of its own shares for approximately US$37 million through open-market transactions.
These purchases were funded from operating cash flow.
As of the end of September, 670,644 shares remained available for repurchase under the board’s original authorisation covering up to three million shares.
The programme forms part of Monarch’s capital allocation strategy.
Dividends and Financial Liquidity
The company also distributed US$5.3 million in dividends during the quarter.
The payment represented a US$0.30 per share dividend paid on 15 September 2026.
The board subsequently approved a further US$0.30 per share dividend, payable on 15 December 2026 to shareholders of record on 1 December.
The distribution forms part of an annual dividend of US$1.20 per share, subject to quarterly review.
At the end of the reporting period, Monarch held US$137.4 million in cash and cash equivalents, with no outstanding borrowings under its credit facility.
Strong Performance During the First Nine Months
Between January and September 2026, Monarch Casino & Resort achieved growth across its key financial indicators.
The results were:
- Net revenue: US$425.4 million, an increase of 5%.
- Net income: US$92.1 million, up 17.4%.
- Adjusted EBITDA: US$158 million, an increase of 7.3%.
- Diluted earnings per share: US$5.06, compared with US$4.18 in 2025.
The year-to-date figures show earnings growth exceeding the increase in revenue.
The company believes its financial position provides flexibility to continue investing in its properties and returning capital to shareholders.
Monarch Continues Evaluating Acquisitions
Alongside investments in its existing properties, Monarch confirmed that it continues evaluating potential merger and acquisition opportunities.
The company believes suitable transactions could generate additional long-term shareholder value.
However, no specific agreements or acquisition targets have been announced.
Its current priorities remain focused on modernising its properties, maintaining operational efficiency and preserving a strong financial position.
Industry Impact and Next Steps
The third-quarter results reinforce Monarch Casino & Resort’s positive performance within the US land-based casino market.
The company increased revenue, improved earnings and achieved record Adjusted EBITDA while continuing to invest in infrastructure and return capital to shareholders.
Over the coming months, Monarch intends to maintain growth across its Nevada and Colorado properties, pursue additional technology investments and evaluate potential expansion opportunities.
With record quarterly revenue of US$146.3 million and Adjusted EBITDA of US$56 million, Monarch Casino & Resort strengthens its financial position while maintaining a strategy focused on operating profitability, investment and sustainable growth.
Edited by: @fonta
