Reno-based Monarch Casino & Resorts blamed ongoing litigation costs in Colorado and competitive pressures in Reno for the company’s lower-than-expected third-quarter results.

Monarch, which operates the Atlantis in Reno and Monarch Black Hawk in Colorado, saw its revenue decline less than 1 percent to almost $133 million in the three-month period that ended Sept. 30.

Net income fell 12.1 percent to $24.2 million.

CEO John Farahi said in a statement that the company’s legal expenses increased because of an ongoing lawsuit with the general contractor working on the $442 million expansion of Monarch Black Hawk. The renovations were completed in 2022 and saw the casino double in size, add a hotel tower and increase its amenities.