Monarch reports Q3 revenue of $146.3m and net income of $32m

Monarch Casino & Resort reported third-quarter 2026 net revenue of $146.3m, a 2.4% increase, the company said. Net income rose 1.4% to $32m and adjusted EBITDA increased 2.1% to $56m.

As of 30 September, Monarch held $137.4m in cash and cash equivalents, the company said, and it had no borrowings outstanding under its credit facility. Shareholder returns for the quarter totalled $42.3m, split between $37m for the repurchase of 300,859 shares and $5.3m paid out as dividends. A quarterly dividend of $0.30 per share was declared, with payment scheduled for 15 December.

Earnings per diluted share came to $1.76, up 4.1% from $1.69 in the corresponding quarter of 2025, and the adjusted EBITDA margin stood at 38.3%. Among operating segments, casino revenue grew 3.4% year over year, food and beverage revenue rose 1.3% and hotel revenue increased 0.9%. Selling, general and administrative expenses climbed to $29m from $27.5m a year earlier, primarily reflecting higher legal and employee-related costs.

Monarch is appealing a judgment of approximately $74.6m awarded in favour of PCL Construction Services, the general contractor for its Black Hawk development. For the first nine months of 2026, the company recorded net revenue of $425.4m, an increase of 5%, and net income of $92.1m, up 17.4%.

Co-Chairman and CEO John Farahi said: "In the third quarter of 2026, Monarch delivered record quarterly net revenue and adjusted EBITDA." Executives said the company would "diligently evaluate" merger-and-acquisition opportunities, and Monarch said it continues to assess potential acquisitions; no prospective transactions were identified.