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Monarch Casino & Resort (MCRI) investor relations material
Monarch Casino & Resort Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Net income for Q3 2025 was $31.6 million, up 14.4% year-over-year; diluted EPS rose 15% to $1.69 per share.
Net revenues for Q3 2025 increased 3.6% to $142.8 million compared to Q3 2024, with growth across casino, food and beverage, and hotel segments.
For the nine months ended September 30, 2025, net income was $78.4 million, up 14.4% year-over-year; diluted EPS rose 16.1% to $4.18.
Achieved all-time record quarterly revenue, net income, and Adjusted EBITDA in Q3 2025, marking the highest in company history.
Declared a $0.30 per share cash dividend payable December 15, 2025.
Financial highlights
Casino revenue grew 5.0% in Q3 2025 and 7.3% for the nine months, driven by increased market share.
Food and beverage revenue rose 2.9% in Q3 2025 and 1.2% for the nine months, with higher revenue per cover offsetting lower covers.
Hotel revenue increased 3.9% in Q3 2025 and 0.3% for the nine months, with ADR up to $192.09 in Q3.
Adjusted EBITDA reached $54.8 million in Q3 2025, up 8.3% year-over-year, with margin improving to 38.4%.
SG&A expense as a percentage of net revenue decreased to 19.3% in Q3 and 20.1% for the nine months.
Outlook and guidance
Management expects continued benefit from macro and local economic growth, but notes labor challenges and competitive pressures in both Reno and Black Hawk markets.
Expects continued investment in property enhancements and guest experience to drive growth.
Anticipated operating cash flows are expected to sustain operations, capital expenditures, and dividend distributions for the next twelve months.
Plans to maintain quarterly dividend payments, subject to board review.
Evaluating potential M&A opportunities to drive long-term shareholder value.
PCL judgment: What is the appeal strategy?
Capital allocation: Repurchases vs. M&A focus?
Are Q3 margin gains sustainable long-term?
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Next Monarch Casino & Resort earnings date
Q4 202512 Feb, 2026
Next Monarch Casino & Resort earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
Monarch Casino & Resort, Inc. is a gaming and hospitality company primarily engaged in the ownership and operation of casino resorts. The company operates two main properties: Atlantis Casino Resort Spa in Reno, Nevada, and Monarch Casino Resort Spa in Black Hawk, Colorado. These resorts offer a range of services, including casino gaming, hotel accommodations, dining, and spa services. Monarch Casino & Resort, Inc. caters to both regional and destination guests, providing a variety of entertainment and leisure experiences in its gaming and hospitality venues. The company is headquartered in Reno, Nevada, and its shares are listed on the NASDAQ.
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