Monarch achieves record-high net revenue for Q3 with $146.3m, net income totals $32m

Monarch Casino & Resort has released the operator’s financial results for Q3 2026, having once again set a new quarterly high in net revenue and adjusted EBITDA after witnessing increases of 2.4% and 2.1%, respectively, to $146.3m and $56m. 

The operator managed to record new quarterly highs in net revenue and adjusted EBITDA during Q4 2025, Q1 2026 and Q2 2026, showcasing a positive trend for recent business strategy. 

“We remain focused on delivering market-leading offerings and services, while maintaining operational efficiency. We remain committed to technology and other strategic capital investments that enhance both properties and set the standard for luxury casino resorts in Northern Nevada and Colorado,” Monarch Co-Chairman and CEO John Farahi said. 

“The third quarter net revenue and adjusted EBITDA growth highlights our ability to drive sustained growth from our two properties.”

Alongside the increases in net revenue and adjusted EBITDA for Q3, Monarch reported net income growth of 1.4% to just over $32m. Up to this point in 2026, net income has totaled $92.1m, equating to an increase of 17.4%. 

The operator’s quarterly high revenue was mainly achieved through a 3.4% increase in revenue from Monarch’s casino business, which generated $82.8m during Q3. Food & beverage and hotel revenues also grew year-over-year, rising 1.3% and 0.9%, respectively, to $34.3m and $22.7m. 

Monarch’s income from operations rose 8.1% to $41.3m during the quarterly period, despite operating expenses increasing 0.3% to $105m. 

Expenditures for Q3 reached $9.7m, consisting of costs related to ongoing maintenance capital projects, the purchase of new gaming equipment at both properties and the purchase of land with a building adjacent to Atlantis.

According to the operator, Monarch will continue to “diligently evaluate” potential M&A transactions, which could drive “additional long-term value” for stockholders if completed.