About Monarch Casino & Resort, Inc.
Monarch Casino & Resort hopes high rollers will rediscover Atlantis. The company's tropical-themed Atlantis Casino Resort Spa in Reno, Nevada, includes nearly 820 hotel rooms, approximately 61,000-sq.-ft. casino, restaurants, a health club, retail outlets, and a family entertainment center. The company also owns and operates the Monarch Casino Black Hawk in Black Hawk, Colorado. Casino operations, which account for more than half of revenue, include gaming tables, slot and video poker machines, keno, and a race and sports book. The family of founder David Farahi – including John, Bob, and Ben Farahi own approximately 35% of the company.
The company operate its business into two operating segments, Atlantis and Monarch Casino Black Hawk.
The Atlantis features approximately 61,000 square feet of casino space, with nearly 820 guest rooms and suites. It also has food outlets, gourmet coffee and pastry bars, as well as health spa and salon with an enclosed year-round pool, retail outlets offering clothing and traditional gift shop merchandise, family entertainment center and meeting room space. The casino features approximately 1,450 slot and video poker machines; approximately 37 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room.
The Monarch Casino Black Hawk features approximately 30,000 square feet of casino space, some 740 slot machines, nearly 15 table games, a 250-seat buffet-style restaurant, a snack bar and a nine-story parking structure with approximately 1,350 spaces, plus valet parking bringing total parking capacity to 1,500 spaces.
Casino operations account for more than half of the sales, followed by Food and Beverage with nearly 30%.
The Atlantis is located about five miles south of downtown in the generally more affluent area of Reno, Nevada. The Monarch Casino Black Hawk is located approximately 40 miles west of Denver, Colorado. The company's headquarter is in Reno, Nevada.
Sales and Marketing
The company's marketing efforts are directed toward three broad consumer groups: leisure travelers, conventioneers and northern Nevada local residents. Advertising expenses were $5 million, $4.9 million and $5.2 million for 2019, 2018 and 2017, respectively.
The company's revenue has been increasing in the past five years (2015-19). In fiscal 2019 the company's revenue increased by 4% to $249.2 million compared to $240.3 million in fiscal 2018.
Monarch's net income net income decreased by 7% to $31.8 million in fiscal 2019 compared to $34.1 million in fiscal 2018.
The company's operating cash inflow increased by 98% to $60.5 million in fiscal 2019 compared to $30.5 million during the prior fiscal period. Operating activities generated $63.2 million while investing activities used $134.9 million. Financing activities provided another $60.5 million.
Monarch's business strategy is to maximize revenues, operating income and cash flow primarily through its casino, food and beverage operations and, at the Atlantis, its hotel operations. The company focuses on delivering exceptional service and value to its guests. Monarch's hands-on management style focuses on customer service and cost efficiencies.
3800 S Virginia St
Reno, NV 89502-6005
Phone: 1 (775) 335-4600
Employer Type: Publicly Owned
Stock Symbol: MCRI
Stock Exchange: , NASDAQ
Co-Chairman and CEO: John Farahi
Co-Chairman and President: Bob Farahi
COO: David Farahi
Employees (This Location): 71
Employees (All Locations): 2,300