Monarch reports record Q4 in 2021, upbeat about 2022 performance

Monarch reports record Q4 in 2021, upbeat about 2022 performance

Monarch Casino and Resort credited site improvements, as well as the elimination of betting limitations in Black Hawk and an increased game selection, with helping the group achieve record fourth-quarter and full-year financial performance. 

Monarch revenue rallies in Q4

This resulted in a 90.3 percent revenue rise through the fourth quarter of 2021, to $111.1 million from $58.4 million, owing to the expansion of hotel and real-money casino activities at the casino operator’s Colorado location.

Monarch owns and runs the Atlantis Casino Resort Spa in Reno, Nevada, as well as the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado, about 40 miles west of Denver. The company notes that both venues’ revenue was hurt in the fourth quarter by pandemic-related capacity and other regulatory constraints that remained in place upon the facilities’ reopening.

However, each of the firm’s reporting segments increased year over year, with casino revenue increasing 74.1 percent to $64.89 million (2020: $37.28 million), food and beverage revenue increasing 111.4 percent from $12.67 million in 2020 to $26.78 million, and hotel revenue increasing 156.6 percent to $14.45 million (2020: $5.63 million). Net income increased 30.2 percent year over year to $19.87 million (2020: $15.26 million), while adjusted EBITDA increased 180.7 percent from $13.89 million to $39 million. Revenue, net income, and adjusted EBITDA all increased significantly over the last twelve months, by 114.4 percent, 189.2 percent, and 218.1 percent, to $395.3 million (2020: $182.4 million), $68.4 million (2020: $23.6 million), and $137.2 million (2020: $43.1 million), respectively, to $395.3 million (2020: $182.4 million), $68.4 million (2020: $23.6 million), and $137.2 million (2020: $43.1 million).

Bright Forecast for 2022

Monarch’s co-chairman and chief executive officer, John Farahi, stated that they anticipate another year of good operating performance and financial success in 2022. This will continue to assess acquisition options that use our development experience and operational capabilities to the fullest extent possible. Additionally, they will stay committed to capital deployment in a manner that positions Monarch to expand and create long-term value for their loyal stockholders.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.