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MCRI

Monarch Casino & Resort, Inc.

MCRI

Monarch Casino & Resort, Inc. • NASDAQ
$96.58 ▼ -0.39% (-0.38)
Market Cap $1.76 B
52w High $113.88
52w Low $69.99
Dividend Yield 0.90%
P/E 21.85
Volume 39.95K
Outstanding Shares 18.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $142.814M ▲ $28.049M ▼ $31.576M ▲ 22.11% ▲ $1.73 ▲ $53.379M ▲
Q2-2025 $136.914M ▲ $44.374M ▲ $27.008M ▲ 19.726% ▲ $1.47 ▲ $48.862M ▲
Q1-2025 $125.394M ▼ $40.876M ▼ $19.864M ▲ 15.841% ▲ $1.08 ▼ $38.533M ▲
Q4-2024 $134.513M ▼ $68.939M ▲ $4.211M ▼ 3.131% ▼ $1.39 ▼ $17.268M ▼
Q3-2024 $137.873M $40.505M $27.601M 20.019% $1.5 $48.38M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $107.639M ▲ $725.384M ▲ $167.008M ▲ $558.376M ▲
Q2-2025 $71.59M ▼ $705.786M ▼ $166.539M ▼ $539.247M ▲
Q1-2025 $75.09M ▲ $712.086M ▲ $176.451M ▲ $535.635M ▲
Q4-2024 $58.76M ▲ $691.583M ▲ $173.835M ▲ $517.748M ▲
Q3-2024 $39.38M $671.14M $157.86M $513.28M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $31.576M ▲ $56.022M ▲ $-5.448M ▲ $-14.525M ▲ $36.049M ▲ $53.546M ▲
Q2-2025 $27.008M ▲ $34.128M ▼ $-12.357M ▲ $-25.271M ▼ $-3.5M ▼ $26.024M ▲
Q1-2025 $19.864M ▲ $36.462M ▼ $-16.028M ▼ $-4.104M ▲ $16.33M ▼ $16.643M ▼
Q4-2024 $13.89M ▼ $37.801M ▼ $-9.405M ▼ $-9.016M ▲ $19.38M ▲ $26.241M ▼
Q3-2024 $27.601M $40.317M $-3.718M $-30.727M $5.872M $35.419M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Casino
Casino
 $150.00M ▲$70.00M ▼$80.00M ▲$80.00M ▲
Food and beverage
Food and beverage
 $60.00M ▲$30.00M ▼$30.00M ▲$30.00M ▲
Hotel
Hotel
 $40.00M ▲$20.00M ▼$20.00M ▲$20.00M ▲
Other
Other
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily over the past five years, with a particularly strong rebound from the pandemic period. Profitability is solid, with healthy margins for a regional casino operator, though operating and net income have flattened and edged slightly down in the most recent couple of years despite higher sales. That suggests rising costs, more competitive pressures, or a maturing benefit from past expansions. Earnings per share show a similar pattern: a strong run-up coming out of 2020 followed by a modest step down, pointing to a business that is profitable and efficient but not currently accelerating its bottom-line growth.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Total assets have held fairly steady, reflecting a period of consolidation after large development projects rather than new, heavy building. Debt has come down significantly from earlier years and now appears quite low, leaving the company with modest financial leverage and more flexibility if conditions weaken. Equity has grown over time, showing that profits have largely been retained in the business. Cash on hand has inched up, adding another layer of safety and optionality for future investments or strategic moves.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently positive and comfortably covers spending on property upgrades and maintenance. Free cash flow has turned from negative during the heavy investment phase around 2020 into solidly positive in recent years, suggesting that major build‑out spending is largely behind them while the expanded properties are now contributing cash. Capital spending remains meaningful but more controlled, indicating a shift from big, one‑off projects to ongoing refinement and refresh of existing resorts.

Competitive Edge

Competitive Edge Monarch operates at the higher end of the regional casino market, with a focus on upscale resorts in Reno and Black Hawk. Its properties are heavily upgraded and well regarded, which creates a quality gap versus many local competitors and makes it harder for new entrants to match the overall guest experience without similar large investments. Strong service scores and a unified rewards program across properties help keep customers loyal and encourage cross‑visitation. However, the footprint is relatively narrow, concentrated in just a few markets, so the company’s fortunes are closely tied to how those specific regions perform and how local competition evolves.

Innovation and R&D

Innovation and R&D While Monarch is not a technology company, it is actively using digital tools to enhance its casinos. It has rolled out modern mobile sports betting apps, uses AI‑driven guest analytics to tailor offers, and employs communication platforms to boost staff responsiveness and safety. Its loyalty app and richer online content support better engagement and booking. At the property level, the company has invested in distinctive amenities such as high‑end spas, signature dining, and energy‑efficient features. Looking ahead, upgrades to its Reno flagship, continued refinement of digital offerings, and any move into broader online gaming or acquisitions are key areas to watch for future innovation‑driven growth.

Summary

Monarch Casino & Resort today looks like a focused, upscale regional casino operator that has moved from a heavy investment phase into a strong cash‑generating phase. Revenues and margins are healthy, but earnings growth has cooled recently, hinting at a more mature stage for current properties rather than rapid expansion. The balance sheet is clean, with low debt and growing equity, which reduces financial risk and provides options. Cash flows are robust and now comfortably exceed capital spending, reflecting the payoff from prior projects. Its competitive edge rests on high‑quality, recently upgraded resorts, strong service, and a growing set of digital tools that deepen customer relationships. The main watchpoints are how effectively it can reignite profit growth from existing assets, whether it expands into new markets or via deals, and how well it navigates economic cycles and regional competition in its concentrated footprint.

NEWS

October 21, 2025 · 4:03 PM UTC

Monarch Casino & Resort Reports All-Time Record Quarterly Financial Results

Read more