Monarch Casino and Resort rings Nasdaq opening bell

On Monday, in a virtual event that will be streamed online and on the Nasdaq Tower, Atlantis Casino Resort Spa´s parent company will ring the opening bell in Nasdaq to mark record revenue at its casinos in Reno and Colorado.

Last week, Monarch Casino and Resort, Inc. reported all-time high net revenue of $75 million for the first quarter of 2021 for the Atlantis and for Monarch Casino Resort Spa in Black Hawk, a 46.9% increase from the first quarter of 2020.

“Our overall first-quarter performance demonstrated Monarch’s success in capturing a higher share of the pent-up demand that seems evident across the gaming industry – particularly in regional gaming markets,” John Farahi, co-chairman and CEO of Monarch, said in a statement. “As the recovery momentum builds over the course of 2021 and into 2022, we believe that our Reno and Black Hawk markets will enable us to generate strong returns. At the same time, we continue to reduce leverage and further improve our balance sheet, positioning the company to evaluate and pursue attractive acquisition opportunities that can drive long-term growth and enhance stockholder value.”

Colorado’s Amendment 77 passed last November and went into effect May 1. It allows unlimited single bets and new casino games such as baccarat and keno.

“Given the overwhelming response to our new resort, we believe that Monarch Casino Resort Spa has already established itself as a premier destination gaming resort in the state and we are confident in our ability to take an outsized share of the market growth anticipated from the Amendment 77-driven changes,” Farahi said.

The Atlantis has about 61,000 square feet of casino space; 818 guest rooms and suites; eight food outlets; a 30,000 square foot health spa and salon with an enclosed year-round pool; an 8,000 square-foot family entertainment center; and about 52,000 square feet of banquet, convention and meeting room space.