RENO, Nev. (AP) _ Monarch Casino & Resort Inc. (MCRI) on Thursday reported third-quarter profit of $6.4 million.
On a per-share basis, the Reno, Nevada-based company said it had profit of 37 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The casino operator posted revenue of $53.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $49.5 million.
Monarch Casino shares have increased 8.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18, a rise of 50 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCRI at http://www.zacks.com/ap/MCRI
