Monarch Casino and Resort recorded a seven percent increase in net revenue for the first half of this year, amidst sweeping expansion of its estate.
The operator of Atlantis and Black Hawk casinos in the US, achieved revenues of $54m – with net income up almost 30 percent in the second quarter to $7.2m.
John Farahi, co-chairman and chief executive officer of Monarch, said: “Our solid financial performance, strong cash flow and healthy balance sheet will allow us to invest as needed to further elevate our market-leading Atlantis property and simultaneously build out our master planned growth project in Black Hawk.”
Monarch Casino Black Hawk is a resort situated 40 minutes away from Denver, Colorado and is currently undergoing expansions to their hotel tower and casino which will cost between $229m and $234m.
Despite this, Monarch’s net income sits at $12m for the first half of 2017, with total operating expenses increasing by $4m from2016.
John Farahi claims the continued growth comes from both Atlantis Casino’s leading position in the Reno market and also from Black Hawk’s continued expansion.
Monarch’s operating expense as a percentage of casino revenue decreased to 39.8 percent in 2017 from 41.5 percent in 2016 caused by higher revenue and more cost efficient strategies.