Despite weather challenges in Reno, Monarch Casino & Resort (NASDAQ: MCRI) posted strong first-quarter financial results, prompting at least one analyst to highlight positives in the regional casino operator’s story.
The Atlantis Reno operator reported first-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $36.5 million on net revenue of $116.6 million. Both figures were records for the company, though the EBITDA number slightly missed Wall Street estimates. In addition to the Reno property, Monarch’s other casino hotel is its eponymous venue in the fast-growing Black Hawk, Colo. market, where the operator is adding market share.
The Atlantis Reno operator reported first-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $36.5 million on net revenue of $116.6 million. Both figures were records for the company, though the EBITDA number slightly missed Wall Street estimates. In addition to the Reno property, Monarch’s other casino hotel is its eponymous venue in the fast-growing Black Hawk, Colo. market, where the operator is adding market share.
