Top management at Monarch Casino & Resort, Inc. is changing.
The Reno, Nevada-based company Wednesday announced that Chief Operating Officer David Farahi will be leaving September 3 to pursue other interests. The casino also introduced Michelle Shriver as the new corporate vice president of operations at Monarch Casino Resort Spa Black Hawk, Colorado. Shriver, who has been a consultant with the company since April 2021, will have primary responsibility for operations at the Colorado site.
“On behalf of the board and our entire team, I want to thank David for his 14 years of significant contributions to Monarch, including nine years as chief operating officer,” said Monarch Casino & Resort Co-Chairman and Chief Executive Officer John Farahi in a statement. “We appreciate David’s commitment and tireless efforts in managing operations during the construction and expansion of our resort in Black Hawk, Colorado, while also leading our Reno operations.
John Farahi is David Farahi’s father.
“I would like to thank Monarch’s co-chairmen and board of directors for the opportunity to serve as chief operating officer for these past nine years,” David Farahi said in a statement. “It has been a tremendous privilege. I am incredibly proud of what our entire team has accomplished together and have every confidence in Monarch’s continued success.”
Shriver was executive vice president of Ameristar Casinos from 1996 to 2014, where she was responsible for the operations of eight regional casino resorts. She also has owned smoothie cafes in Colorado, worked for a hospitality recruiting company, as a content strategist, copywriter, and gaming and marketing consultant.
“Michelle has a track record of approximately 20 years in the gaming and hospitality industry,” John Farahi said. “She has extensive experience developing a corporate strategy aimed at maximizing revenues and achieving market leadership.”
In an analyst’s statement, Barry Jonas of Truist Securities said it was surprising to hear of David Farahi’s departure.
“We think (David Farahi) is one of the smartest operators in the industry, has been the public face of MCRI with investors for some time,” Jonas wrote.
“From an operational perspective, we don’t see any near-term risks given a strong CEO in John Farahi, solid property management and a new Corporate VP of Operations,” Jonas added. “We still see the company very well-situated in both Reno and Black Hawk – even with rising COVID cases.”
Craig Pleva, who has been with the company for more than 16 years, will continue to serve as Black Hawk’s general manager.