Monarch releases first quarter report
Monarch Casino & Resort, Inc., parent of Atlantis Casino Resort Spa, reported 2017 first quarter consolidated net revenues of $53.4 million increased 7.4% from $49.7 million in the prior year, driven by growth at both Atlantis and Monarch Casino Black Hawk. Casino revenues rose 4.0% year over year, food and beverage revenues grew 15.5% and hotel revenues increased 10.5%. Consolidated promotional allowances increased $0.6 million, or 5.7%. As a percentage of gross revenues, promotional allowances decreased to 18.1% from 18.3% a year ago.
Additional information concerning potential factors that could affect all forward looking statements, including the Company’s financial results is included in the Company’s Securities and Exchange Commission filings, which are available on the Company’s website at http://www.monarchcasino.com.
“We’re very excited to have the opportunity to expand the services we offer as well as provide additional jobs,” said owner Garrett Oakes.