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Mar 31, 2024
Monarch Q1 2024 Earnings Report
Monarch Casino & Resort reported record first quarter financial results.
Key Takeaways
Monarch Casino & Resort reported record first-quarter results with net revenue reaching $121.7 million and adjusted EBITDA at $38.5 million. The company saw revenue growth across all business segments at Monarch Black Hawk and is focused on property enhancements at Atlantis. A cash dividend of $0.30 per share was declared.
Net revenue increased by 4.3% year-over-year to $121.7 million.
Adjusted EBITDA grew by 5.7% year-over-year to $38.5 million.
Casino, food and beverage, and hotel revenues increased by 3.8%, 2.9%, and 8.4% year-over-year, respectively.
The company purchased 281,708 shares of its common stock for $19.4 million.
Revenue by Segment
Forward Guidance
The company is positioned to continue investing in its properties, paying cash dividends, and buying back stock. They are also evaluating potential M&A transactions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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