Monarch Casino & Resort Q1 2025 net revenue increases 3.1%; net income hits $19.9m
The net income figure generated throughout the first quarter of 2025 represents an increase of 8.7% year-over-year, while adjusted EBITDA grew by 6.7% from the prior year period.
Key Points
- Casino revenue increased 5.0% from the prior year period to $72.9m, while food & beverage and hotel revenue decreased 0.5% and 0.4% year-over-year, respectively
- Total operating expenses eclipsed the $100m mark throughout Q1 2025, but the increase in costs seemed to have little effect on the final net income figure
Monarch Casino & Resort has released its financial results from the first quarter of 2025, including increases in both net revenue and net income, which rose by 8.7% year-over-year to reach $19.9m.
With net revenue increasing by 3.1% from the prior year period for a total of $125.4m, adjusted EBITDA also managed to witness growth during Q1 2025 with an increase of 6.7% year-over-year to $41.1m. The results were primarily driven by casino revenue, which grew by 5% from the prior year period to generate $72.9m throughout the first quarter of 2025.
“Monarch delivered strong financial results in the first quarter. Net revenue increased 3.1% year-over-year to a first quarter record of $125.4m, and adjusted EBITDA increased 6.7% year-over-year to a record $41.1m. Our first quarter operating margin improved 110 basis points over the prior year same period to a first quarter record of 32.8%,” Monarch Casino & Resort CEO John Farahi said.
“The first quarter financial performance underscores the effectiveness of our operating strategies and our ability to drive sustained growth. We continue to focus on implementing new technologies and processes across the properties to further elevate operating efficiencies and guest satisfaction.”
Casino
Food & Beverage
Hotel
Other
While casino revenue managed to generate a significant increase year-over-year, food & beverage and hotel revenues fell from the prior year period by 0.5% and 0.4%, respectively, for totals of $30m and $16.7m for Q1 2025.
Good to know: IGT expanded upon its partnership with Monarch Casino & Resort during August 2024 to extend its sports betting footprint, signing a technology and services agreement to broaden its US reach in Nevada and Colorado
Monarch Casino & Resort was able to report record highs in net revenue and adjusted EBITDA despite total operating expenses increasing by over $2m during Q1 2025 when compared to the prior year period. The increase was primarily seen in the casino segment, which saw a rise in operating expenses of over $1.1m.
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Farahi also went on to state Atlantis Casino Resort & Spa in Reno, Nevada is nearing completion of approximately $100m in capital investments, with the remaining upgrades set to finish prior to Memorial Day weekend.
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