Monarch Casino & Resort (MCRI) Q4 2025 earnings summary

Executive summary

• Achieved record net revenue and net income for both Q4 and full year 2025, with net revenue up 4.1% in Q4 and 4.4% for the year year-over-year.

• Adjusted EBITDA reached all-time highs, increasing 9.6% in Q4 and 10.4% for the year compared to 2024.

• Declared a $0.30 per share cash dividend payable March 16, 2026, and repurchased 797,279 shares for $72.2 million in 2025.

Financial highlights

• Q4 2025 net revenue: $140.0M (up 4.1% YoY); full year: $545.1M (up 4.4% YoY).

• Q4 net income: $22.9M (up 445% YoY); full year: $101.4M (up 39.3% YoY).

• Q4 Adjusted EBITDA: $51.8M (up 9.6% YoY); full year: $199.1M (up 10.4% YoY).

• Q4 diluted EPS: $1.25 (up 468% YoY); full year: $5.43 (up 41.4% YoY).

• Q4 casino revenue up 5.3%, F&B revenue up 4.8%, hotel revenue down 1.9% YoY.

Outlook and guidance

• Expects to continue strong free cash flow and maintain quarterly dividend payments.

• Plans ongoing capital investment and property enhancements, with a focus on technology to reduce costs.

• Evaluating potential M&A opportunities to drive long-term value.