Monarch Casino & Resort
Runs two regional casino resorts built around gaming, lodging, dining, and spa amenities.
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Profile
Operates Atlantis Casino Resort Spa in Reno and Monarch Casino Resort Spa Black Hawk in Colorado, earning primarily from casino gaming, hotel rooms, and food and beverage. Casino gaming supplies most revenue, leaving the business concentrated in two regulated regional markets.
Owns and operates Atlantis Casino Resort Spa in Reno and Monarch Casino Resort Spa Black Hawk in Colorado. Both properties combine casino gaming with hotel rooms, restaurants, bars, spas, pools, and meeting space; sportsbooks and state-limited mobile wagering extend the gaming mix.
Targets local residents, leisure travelers, and convention guests in Reno, while Black Hawk draws from the Denver and Boulder areas. Hands-on property management, customer service, cost control, and recurring upgrades to rooms, gaming equipment, dining, and amenities underpin execution.
Revenue is concentrated in the owned-property base and comes primarily from casino, food and beverage, and hotel operations. Results depend on discretionary travel and gaming demand, labor availability, competitive intensity, and maintaining state and local gaming licenses in Nevada and Colorado.
Company facts
Key statistics
Year to date +27.7% · Average volume (30d) 132.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 21, 2026 | CBRE | Downgrade | Buy | Hold | ||
| Jul 21, 2026 | Stifel Nicolaus | Target | $97 | $128 | ||
| Jul 21, 2026 | Wells Fargo | Reiterate | Equal Weight | $116 | $114 | |
| Jul 14, 2026 | Wells Fargo | Reiterate | Equal Weight | $97 | $116 | |
| Jul 2, 2026 | UBS | Target | $124 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 20, 2026Q2 FY26 | $1.68 | $1.78 | +6.0% | $142.8M | $142.6M | −0.2% | −5.57% |
| Apr 21, 2026Q1 FY26 | $1.15 | $1.52 | +32.2% | $129.9M | $136.6M | +5.1% | +15.89% |
| Feb 4, 2026Q4 FY25 | $1.37 | $1.25 | −8.8% | $139.5M | $140.0M | +0.4% | +2.34% |
| Oct 21, 2025Q3 FY25 | $1.63 | $1.69 | +3.7% | $139.4M | $142.8M | +2.5% | −4.12% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $125.4M | $136.9M | $142.8M | $140.0M | $136.6M | $142.6M | |
| Gross profit | $66.2M | $79.3M | $66.2M | $77.4M | $64.3M | $49.7M | |
| Operating income | $25.3M | $34.9M | $38.2M | $29.1M | $36.5M | $21.1M | |
| Net income | $19.9M | $27.0M | $31.6M | $22.9M | $27.6M | $32.5M | |
| Diluted EPS | $1.05 | $1.44 | $1.69 | $1.25 | $1.52 | $1.78 | |
| Gross margin | 52.8% | 57.9% | 46.4% | 55.3% | 47.1% | 34.9% | |
| Operating margin | 20.2% | 25.5% | 26.7% | 20.8% | 26.8% | 14.8% |
Fiscal years (4-quarter sums)FY21 $395.4M · FY22 $477.9M · FY23 $501.5M · FY24 $522.2M · FY25 $545.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $138.3M · Total debt $12.8M · Total assets $741.2M · Shareholders' equity $576.8M
Dividends
To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 15 | $0.30 | |
| Mar 2, 2026 | Mar 2 | Mar 16 | $0.30 | |
| Dec 1, 2025 | Dec 1 | Dec 15 | $0.30 | |
| Aug 29, 2025 | Sep 1 | Sep 15 | $0.30 | |
| May 30, 2025 | Jun 1 | Jun 15 | $0.30 | |
| Feb 28, 2025 | Mar 1 | Mar 15 | $0.30 | |
| Nov 29, 2024 | Dec 1 | Dec 15 | $0.30 | |
| Aug 30, 2024 | Sep 1 | Sep 15 | $0.30 |
Ownership
Shares outstanding 17.92M · Float 12.02M · 67.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| John Farahi · director, 10 percent owner, officer: CEO | 3.14M | 17.51% | Form 4 | May 29, 2026 |
| BlackRock, Inc. | 2.06M | 11.48% | 13F | Aug 7, 2026 |
| American Century Companies Inc | 558.4K | 3.12% | 13F | Aug 12, 2026 |
| Davenport & Co LLC | 522.6K | 2.92% | 13F | Jul 13, 2026 |
| State Street Corp | 517.6K | 2.89% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 28, 2026 | John Farahi | director, 10 percent owner, officer: CEO | −5,000 | $120.84 |
| Mar 16, 2026 | John Farahi | director, 10 percent owner, officer: CEO | −2,000 | $99.00 |
| Mar 10, 2026 | John Farahi | director, 10 percent owner, officer: CEO | −1,000 | $97.43 |
| Feb 9, 2026 | Paul Andrews | director | −6,100 | $26.62 |
| Jan 15, 2026 | Yvette Landau | director | −36,600 | $65.74 |
Peers
- Caesars Entertainment
Direct Reno and Black Hawk casino-resort overlap
- Century Casinos
Colorado and Reno/Sparks casino-hotel overlap
- Full House Resorts
Colorado destination casino and hotel overlap
- Boyd Gaming
Regional casino and Nevada locals benchmark
- PENN® Entertainment
Regional casinos plus sports-betting overlap
- Bally's
Black Hawk casino floor and sportsbook overlap
- Red Rock Resorts
Nevada locals casino-resort operating peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Monarch Casino & Resort | $122.57 | −0.08% | $2.20B | 19.6 | 17.7 | 3.9 | +4.2% |
| Caesars Entertainment | $29.74 | +0.02% | $6.06B | — | — | 0.5 | +3.0% |
| Century Casinos | $1.26 | −0.79% | $35.7M | — | — | 0.1 | +0.8% |
| Full House Resorts | $2.06 | −0.48% | $74.7M | — | — | 0.2 | +5.6% |
| Boyd Gaming | $79.95 | +0.63% | $5.77B | 3.5 | 10.7 | 1.4 | +0.0% |
| PENN® Entertainment | $17.36 | +0.03% | $2.32B | — | 11.9 | 0.3 | +5.2% |
| Bally's | $9.43 | −0.32% | $461.6M | — | — | 0.2 | +20.5% |
| Red Rock Resorts | $56.97 | −0.04% | $3.33B | 20.1 | 22.2 | 1.7 | −3.0% |
| Median | 11.8 | 11.9 | 0.3 | +3.0% |