Monarch Casinos & Resorts announced profits of $31.5 million on revenue of $142.8 million in the third quarter of 2025. Both figures were the best ever for the company.
Revenue was up 3.6 percent and profit rose 14.4 percent. Cash flow was $54.8 million, also a record and an 8.3 percent increase. Monarch owns casinos in Reno and Black Hawk, Colorado.
CEO John Farahi credited the results, in part, to greater efficiencies in marketing and use of technology. He also cited the luxury positioning of Monarch Black Hawk as instrumental in pulling business from the Denver and Boulder areas, continuing to improve its market share.
“At Atlantis in Reno, we remain committed to the ongoing enhancement of the property to ensure that we consistently deliver a fresh high-quality product to our guests. We believe that our elevated product, combined with exceptional guest service, will continue to drive increased guest visitation and sustained revenue growth,” Farahi added, in a prepared statement. The company did not hold an earnings call, continuing a Monarch tradition.
All revenue segments were up for the third quarter. Gambling win rose five percent, food and beverage earnings were up 2.9 percent, and hotel revenues gained 3.9 percent, driven by higher room rates. Administrative expenses were slightly lower.
Capex investments, mainly at the company’s Atlantis resort in Reno, were $5.4 million and funded entirely from cash flow. Monarch ended the quarter with $107.6 million in cash on hand and no debt.
Monarch announced a $0.30 per share dividend, payable on December 15. This was a continuation of an ongoing dividend program, announced at the start of the year.