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Dec 31, 2020
Monarch Q4 2020 Earnings Report
Monarch Casino & Resort reported Q4 2020 results with a net revenue of $58.4 million and a net income of $15.3 million.
Key Takeaways
Monarch Casino & Resort, Inc. reported a decrease in net revenue by 6.0% year-over-year to $58.4 million for the fourth quarter of 2020. Despite challenges from COVID-19 restrictions, the company saw an increase in casino revenue and a significant rise in net income due to a tax benefit. Adjusted EBITDA decreased slightly by 1.7% year-over-year to $13.9 million.
Net revenue decreased by 6.0% year-over-year to $58.4 million.
Casino revenue increased by 16.4% year-over-year.
Net income increased by 146.3% due to a tax benefit.
Adjusted EBITDA decreased by 1.7% year-over-year to $13.9 million.
Monarch
Monarch
Forward Guidance
Monarch expects the cash position in the coming quarters to be impacted by construction retention payments related to the Monarch Black Hawk Expansion project and by the expected tax benefit.