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Sep 30, 2021
Monarch Q3 2021 Earnings Report
Monarch reported record financial results benefiting from pandemic recovery, economic and population growth, and the removal of betting limits.
Key Takeaways
Monarch Casino & Resort reported record operating results for the third quarter ended September 30, 2021. Net revenue and Adjusted EBITDA reached all-time highs, with each property generating record net revenue and Adjusted EBITDA. The company also achieved a record Adjusted EBITDA margin.
Net revenue reached $111.6 million, an increase of 86.5% year-over-year.
Adjusted EBITDA was $40.3 million, an increase of 94.9% year-over-year.
The company's Black Hawk operations are ramping up with the legacy facility transformation nearing completion.
Atlantis results were negatively impacted by California fires and the reinstatement of mask mandates.
Forward Guidance
With the Monarch Black Hawk construction project nearing completion, the company is evaluating acquisition opportunities to leverage its development expertise and operational excellence.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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