Monarch Q1 2022 Earnings Report
Key Takeaways
Monarch Casino & Resort reported record first quarter results, with net revenue reaching $108.3 million and Adjusted EBITDA at $34.3 million. The company benefited from the full scope of operations at Monarch Black Hawk and continued growth of market share at both properties.
Net revenue and Adjusted EBITDA reached first quarter records at $108.3 million and $34.3 million, respectively.
Adjusted EBITDA margin was 31.7% for the quarter.
Monarch Black Hawk's expansion was completed with the opening of Bistro Mariposa.
Atlantis' first quarter financial results were impacted by construction work on the redesign and upgrade of approximately 20% of the room inventory.
Monarch
Monarch
Forward Guidance
The company intends to build on its strong operating performance in the first quarter and continues to evaluate potential acquisitions.
Challenges Ahead
- Labor market pressure and rising inflation could impact further near-term margins.