On July 19, 2023, MONARCH CASINO & RESORT ($NASDAQ:MCRI) announced their financial results for the second quarter of FY2023 (ending June 30, 2023). Total revenue for the period increased 7.3%, to USD 123.7 million, while net income was up 15.3% year over year, to USD 22.4 million.
The stock opened at $73.3 and closed at $73.6, a 0.1% decrease from its prior closing price of 73.7. The increase in net revenue and profit was primarily attributed to the opening of a new casino in Reno, Nevada and the expansion of its existing operations in Black Hawk, Colorado. Monarch has also seen an increase in demand for its hotel and dining services, leading to higher occupancy rates and improved customer satisfaction scores. The increase was primarily driven by improved gaming operations, as well as increased marketing efforts to attract new customers.
In addition, Monarch invested in several new initiatives to expand its presence in the gaming industry, including increasing its loyalty program offerings and launching new sports betting options. Overall, Monarch has reported a strong second quarter, with revenue and profit increases from its operations in Reno and Black Hawk, as well as from its hospitality and dining services. The company will continue to focus on improving customer satisfaction and expanding its presence in the gaming industry in order to remain competitive and profitable in the long run. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for MCRI. More…
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At GoodWhale, we have conducted an analysis of MONARCH CASINO & RESORT’s wellbeing. Based on our Risk Rating, MONARCH CASINO & RESORT is a low risk investment in terms of its financial and business aspects. However, during our analysis, we have detected 2 risk warnings in their balance sheet that are non-financial. If you are interested in learning more about the potential risks associated with this investment, please register with us to find out more. More…
Risk Rating Analysis
Star Chart Analysis
Monarch Casino & Resort Inc is a publicly traded company that owns and operates the Atlantis Casino Resort Spa, a hotel-casino-resort located in Reno, Nevada, USA. The company’s stock is traded on the Nasdaq Global Select Market under the ticker symbol MCRI.
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MONARCH CASINO & RESORT recently reported strong financial results for the second quarter of FY2023, ending June 30, 2023. Total revenue was up 7.3% compared to the same period last year, reaching USD 123.7 million. Net income was also up 15.3% year over year at USD 22.4 million. This indicates a positive trend in the earnings of this company and could make it an attractive option for investors looking for returns.
The company’s continued growth and increasing profitability indicates that it is a good long-term investment. Investors should research the company further to get an in-depth understanding of its financials and operations before deciding whether to invest.