Monarch Resorts has reported a solid financial performance for the second quarter
Reno-based Monarch Resorts has reported a solid financial performance for the second quarter, similar to its first-quarter results. The company experienced hotel room renovations at the Atlantis and unseasonable winter weather, which affected the Reno market in both quarters. However, the Monarch Hotel and Casino in Black Hawk, Colorado, performed well, contributing to year-over-year increases in revenue, net income, and cash flow.
In June, the Reno market began to improve as the Atlantis resumed full operations, and visitation in Northern Nevada increased. Monarch’s CEO, John Farahi, highlighted the competitive nature of the Reno market and their prudent investments in Atlantis to maintain a leading position.
For the quarter ending on June 30, Monarch reported a revenue of $123.7 million, marking a 7.3 percent increase compared to the previous year, and cash flow of $42.1 million, representing a 7 percent increase.
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