Monarch Casino & Resort has reported its financial results for the first quarter of 2026, witnessing all-time quarterly highs for revenue and adjusted EBITDA, as well as a 38.9% increase in net income to $27.6m.
Net revenue and adjusted EBITDA increased 8.9% and 19% during Q1 2026, respectively, for totals of $136.6m and nearly $49m. Monarch Co-Chairman and CEO John Farahi attributed the quarterly high results to increased market share at Atlantis Casino Resort & Spa and Monarch Black Hawk for Q1 2026.
“We are committed to ongoing capital investments, enhancement at both properties and setting the standard for luxury resorts in each market,” Farahi said.
“We remain confident that we have opportunities to increase revenue in both markets, while deploying technology to reduce operating costs. The first quarter increases in revenue and adjusted EBITDA highlight our ability to drive sustained growth from our two properties.”
Casino operations for Monarch generated $79.7m of revenue for Q1 2026 and increased 9.4% from the prior year period. Food & beverage and hotel revenues grew 5.6% and 13.5%, respectively, to $31.7m and nearly $19m.
The increases in net revenue, income and adjusted EBITDA during the first quarter of 2026 were produced despite 1.5% growth in Monarch’s operating expenses to $101.6m. Casino operations accounted for $28.7m of Monarch’s total expenses for Q1 2026, while food & beverage and hotel businesses cost just over $23m and $6.8m, respectively.
During Q1 2026, Monarch purchased just over 181,000 shares of its common stock through the operator’s share repurchases program for $17.6m.
On April 15, Monarch’s slot machine change donation program, which currently runs on equipment developed by International Game Technology (IGT), surpassed $1m in donations to various nonprofit organizations.
The program allows guests of Atlantis Casino Resort Spa and Monarch Casino Resort Spa Black Hawk to choose whether they would like to donate the remaining change of their slot machine winnings to either one or multiple nonprofit charities.
While guests still have the ability to redeem the full slot machine amount if they so choose, donations go toward organizations such as Food Bank of Northern Nevada, Make-A-Wish Foundation of Nevada and the Navy SEAL Foundation.
Monarch Casino & Resort has reported its financial results for Q4 2025 as well as full-year on February 4, also having managed to set new records for revenue and adjusted EBITDA during both periods
