Monarch Casino Sees Highest First Quarter Ever
The first quarter revenue from the company Monarch Casino & Resort Inc. was reported as a 6.1% increase over last year with a net of $37.8 million. It was also announced that each of it's revenue centers exceeded their best gross revenue for a first quarter ever.
Gross revenue from some of the specific groups included the casino being up 4.9% from last year, hotel operations up 13.2%, and food and beverage up 7.8%.
The company picked up the pace on it's marketing this year, resulting in a 6.4%, or $689 thousand increase in selling, general and administrative expenses.
"These results represent another in a series of record breaking quarters for our team", stated Monarch's CEO and co-chairman John Farahi. He went on to say, "We remain on track to break ground on our previously announced expansion in the second quarter and expect construction to be completed in the second quarter of 2008."
The company owns the Atlantis Casino Resort Spa in Reno. The casino currently has 1000 rooms at it's three high rise hotels, 1450 video poker and slot machines, 38 table games, a sports book, and nine places to enjoy dining. |
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