Monarch Q2 2022 Earnings Report
Key Takeaways
Monarch Casino & Resort reported record second quarter results with net revenue of $115.3 million and Adjusted EBITDA of $39.5 million. The company benefited from the successful ramp-up of its Black Hawk property and efficient cost management, partially offsetting ongoing cost increases with price adjustments. Capital investments in Atlantis, including the hotel tower redesign, were completed on schedule and on budget.
Net revenue increased by 18.0% year-over-year to $115.3 million.
Adjusted EBITDA increased by 12.2% year-over-year to $39.5 million.
Casino, food and beverage, and hotel revenues increased by 10.7%, 28.7%, and 31.1% year-over-year, respectively.
The redesign and upgrade of the original hotel tower at Atlantis was completed on schedule and on budget.
Monarch
Monarch
Forward Guidance
Monarch is positioned to continue evaluating potential acquisitions to drive long-term value for stockholders.