Profits for Monarch Casinos & Resorts grew 445 percent in the fourth quarter, ending with the company $22.9 million in the black. The full-year profit was $101.3 million, up from $72.8 million in 2024. Monarch declared a $0.30 per share dividend. The announcement was made on February 4, in conjunction with the earnings release.
Quarterly cash flow of $51.8 million was 9.6 percent better than in the fourth quarter of 2024. Annual cash flow swelled to $199 million from $180 million.
The company’s profits were dampened by several events, including a $27.6 million litigation judgment against the company and in favor of PCL Construction Services. Another factor was $5.5 million in litigation-related expenses.
Still, CEO John Farahi stated, “With all-time high fourth-quarter financial results, we delivered another record year in 2025. … In the fourth quarter and full year, we increased market share year-over-year at both Atlantis and Monarch Black Hawk.”
Farahi continued, “We remain committed to the ongoing capital investment and enhancement at both properties and setting the standard for luxury resorts in each market. We continue to believe that we have opportunities to increase revenue in both markets, while deploying technology to reduce operating costs.”
During the fourth quarter, Monarch repurchased 445,175 shares at a cost of $41 million, bringing the year’s share buybacks to $72.2 million.
Departmentally, Monarch saw a 5.3 percent increase in casino winnings and 4.8 percent more F&B revenue, but a 1.9 percent decrease in hotel earnings for the fourth quarter. Monarch credited “improved labor management and operational efficiencies” with a reduction in casino operating expenses.
Monarch also earned greater revenue per meal, while engaging in “labor and cost of sale efficiencies” that reduced the cost of F&B operations. Lower room rates in Black Hawk, Colorado, however, contributed to a higher cost of running Monarch’s hotels.
The company ended the fourth quarter with $96.5 million cash on hand and no debt.
