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Sep 30
Monarch Q3 2025 Earnings Report
Monarch reported record-breaking Q3 2025 financial results, achieving its highest-ever quarterly revenue, net income, and EBITDA.
Key Takeaways
Monarch Casino & Resort delivered all-time high results in Q3 2025, with significant growth in net income, revenue, and adjusted EBITDA. Operating efficiencies across casino, hotel, and food & beverage segments improved margins, driven by strong guest demand and disciplined cost control.
Net revenue hit a record $142.8 million, up from $137.9 million a year ago.
Net income surged to $31.6 million, a 14.4% year-over-year increase.
Adjusted EBITDA reached an all-time quarterly high of $54.8 million.
Expense efficiencies were achieved across all major operating segments, improving margins.
Monarch
Monarch
Monarch Revenue by Segment
Revenue by Segment
Casino Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comHotel Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Monarch expects continued strong performance supported by its balance sheet, operational efficiency, and strategic investments in properties. The company is also exploring potential M&A opportunities for future growth.
Positive Outlook
- Strong balance sheet with $107.6M in cash and no outstanding borrowings.
- Ongoing enhancements at Atlantis Reno to elevate guest experience.
- Monarch Black Hawk continues gaining market share in Colorado.
- Share repurchase program and quarterly dividends show confidence in financial strength.
- Evaluation of M&A opportunities for long-term value creation.
Challenges Ahead
- Exposure to potential construction litigation costs, including a $74.6M judgment.
- Economic downturn or recession could impact guest visitation and spending.
- Labor shortages and wage inflation could affect operating margins.
- Potential increases in state and federal taxation could pressure profits.
- Geopolitical uncertainties and conflicts may influence travel behavior and financial markets.