Profits widened dramatically at Monarch Casinos & Resorts in the first quarter of 2026. The company reported a profit of $27.6 million, a 38.9 percent increase from the previous year.
Net revenue reached $136.5 million, an 8.9 percent increase. Cash flow leapt 19 percent to $48.9 million. The company also announced a $0.30 per share dividend, payable June 15.
Monarch continued to repurchase stock shares as well. During the first quarter, it bought back 181,258 shares at a cost of $17.6 million.
CEO John Farahi declared the first-quarter results to be Monarch’s best in its history for that period. In a prepared statement, he said, “The first-quarter increases in revenue and adjusted EBITDA highlight our ability to drive sustained growth from our two properties,” Atlantis in Reno and Monarch Black Hawk in Colorado.
According to Farahi, both casinos increased their market share during the quarter. He added, “We are committed to ongoing capital investments, enhancement at both properties, and setting the standard for luxury resorts in each market. We remain confident that we have opportunities to increase revenue in both markets, while deploying technology to reduce operating costs.”
Hotel revenue led all categories with a 13.5 percent increase. Gambling revenue was up by 9.4 percent, while food and beverage revenue grew 5.6 percent. Monarch attributed the hotel performance to higher rates at its Reno property, as well as improved group and convention business.
Due to a variety of factors, including “better labor management and operational efficiency,” expenses decreased in all departments. Administrative costs grew slightly, by $600,000 to $27.8 million. Monarch also said it was “diligently evaluating” possible asset purchases or mergers.
Monarch ended the quarter with $120.1 million cash on hand and no debt. Although $7.6 million was spent on capex maintenance, it was funded from ongoing cash flow.
