Monarch reports $146.3m revenue and 2.4% growth in Q3 2025

Monarch Casinos & Resorts reported third-quarter net revenue of $146.3m, up 2.4% on the same period of 2025, according to results released late on Tuesday. Profit rose 1.4% to $32m and cash flow increased 2.1% to $56m. The company operates two casinos.

Chief executive John Farahi said the quarter reflected improvements across the business. Casino winnings were 3.4% higher, food-and-beverage revenue rose 1.3% and hotel revenue grew 0.9%.

Monarch ended the quarter with $137.4m in cash and no debt. It repurchased $37m of shares and paid a $5.3m dividend. Administrative costs rose to $29m, partly because of legal expenses, while operating expenses were flat for the casino department and slightly lower for the others.

Capital expenditure of $9.7m covered a real estate purchase in Reno and gambling equipment for the nearby Atlantis casino, funded from cash flow. Executives said they would "diligently evaluate" merger-and-acquisition opportunities, without indicating whether any were in prospect.

Farahi said in prepared remarks: "The third quarter net revenue and adjusted [cash flow] growth highlights our ability to drive sustained growth from our two properties."