{"id":238488,"date":"2022-10-19T22:25:28","date_gmt":"2022-10-20T03:25:28","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=238488"},"modified":"2022-10-20T13:44:45","modified_gmt":"2022-10-20T18:44:45","slug":"monarch-casino-planning-reno-update-dividend-possible","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/","title":{"rendered":"Monarch Casino Eyeing Atlantis Reno Enhancements, Possible Dividend"},"content":{"rendered":"<p>Monarch Casino &amp; Resort (NASDAQ:MCRI) announced today it is planning to renovate the second hotel tower at Atlantis Casino Resort Spa Reno early next year and is mulling paying a dividend.<\/p>\n<figure id=\"attachment_238489\" aria-describedby=\"caption-attachment-238489\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-238489\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis-142x80.jpg\" alt=\"Atlantis Casino Resort Spa\" width=\"1200\" height=\"675\" \/><figcaption  id=\"caption-attachment-238489\"class=\"text-description\">Atlantis Casino Resort Spa in Reno. Operator Monarch Casino is planning to continue updating the venue. (Image: YouTube)<\/figcaption><\/figure>\n<p>The gaming company made those declarations in conjunction with reporting record-breaking third-quarter results after the close of US markets. Reno-based Monarch reported earnings per share of $1.41 on revenue of $133.73 million for the September quarter, as adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 28%.<\/p>\n<blockquote class=\"main-blockquote\"><p><strong>Over the last year, with the completion of Monarch Black Hawk expansion, we have continued to fine-tune all aspects of our business and are operating more efficiently and effectively than ever before,\u201d<\/strong> said co-Chairman and CEO John Farahi in a statement.<\/p><\/blockquote>\n<p>Monarch owns just two casino-hotels &#8212; its namesake venue in Black Hawk, Colo. and Atlantis in Reno.<\/p>\n<h2>Monarch Renewing Reno Focus<\/h2>\n<p>Monarch doled out $400 million to enhance its Colorado venue. It&#8217;s a move the operator says is paying off in terms of increasing share in one of the West\u2019s most competitive gaming markets outside of Las Vegas. Following some <a href=\"https:\/\/www.casino.org\/news\/monarch-casino-focusing-on-bolstering-atlantis-reno\/\">additions to its Reno property<\/a>, the company is looking to do more at that venue.<\/p>\n<p>\u201cAtlantis continues to deliver strong results. Our primary focus remains the ongoing enhancement of the property. Guests\u2019 response to the recently upgraded and redesigned rooms in the first hotel tower has been very positive,\u201d added Farahi.<\/p>\n<div class=\"callout\">\n<p>Atlantis, by some accounts, is already the most highly rated venue in Reno, and that\u2019s a good thing for Monarch because there are new properties and operators in what\u2019s an increasingly attractive but competitive gaming market.<\/p>\n<\/div>\n<p>New entrants to the market, including Bally\u2019s <a href=\"https:\/\/www.casino.org\/news\/century-casinos-arrives-in-nevada-with-195m-nugget-sparks-buy\/\">and Century Casinos<\/a>, could allocate capital to sprucing up familiar venues in Reno-Tahoe. That could potentially lure more visitors to the region in the process.<\/p>\n<h2>Monarch Balance Sheet, Dividend Possibilities<\/h2>\n<p>Monarch ended the third quarter with $33.1 million in cash, a $27 million balance on a term loan, and no outstanding debt tied to a $70 million credit facility.<\/p>\n<p>Farahi noted the gaming company is <strong>\u201c<\/strong>evaluating a full range of capital allocation options, including potential share repurchases under our existing 2.9 million share repurchase authorization and potential dividend.\u201d<\/p>\n<p>Monarch currently doesn\u2019t a pay a dividend. But these days, <a href=\"https:\/\/www.casino.org\/news\/sands-china-unlikely-to-resume-dividends-prior-to-2024\/\">that\u2019s commonplace<\/a> in the gaming industry. The company went public in 1993, and hasn\u2019t paid a quarterly distribution over that time. But doing so could bring in a new crowd of investors, particularly because it\u2019s a small-cap stock. Small-cap equities are usually more volatile than larger counterparts. But dividends are known to blunt some of that turbulence, regardless of market capitalization. It\u2019s also possible that Monarch could be a takeover target.<\/p>\n<p><strong>\u201cOn the M&amp;A front, the list of \u2018suitable\u2019 acquisition targets remains slim (barring a macro downturn bringing new sellers to the table), though we believe MCRI remains an attractive takeout candidate potentially presenting a different avenue for investors to get paid. All-told, we see attractive risk-reward at present levels despite macro uncertainty, with likely catalysts for price discovery in the coming quarters,\u201d <\/strong>said Stifel analyst Jeffrey Stantial in a note out this evening.<\/p>\n<p>He upgraded the stock to \u201cbuy\u201d from \u201chold.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monarch Casino &amp; Resort (NASDAQ:MCRI) announced today it is planning to renovate the second hotel tower at Atlantis Casino Resort Spa Reno early next year and is mulling paying a dividend. The gaming company made those declarations in conjunction with reporting record-breaking third-quarter results after the close of US markets. Reno-based Monarch reported earnings per [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":238489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810],"tags":[81897,81903,81898],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Monarch Casino Planning Reno Update, Dividend Possible<\/title>\n<meta name=\"description\" content=\"Monarch Casino adding to Atlantis Reno, could pay dividend in future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monarch Casino Planning Reno Update, Dividend Possible\" \/>\n<meta property=\"og:description\" content=\"Monarch Casino adding to Atlantis Reno, could pay dividend in future.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-20T03:25:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-20T18:44:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/\",\"url\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/\",\"name\":\"Monarch Casino Planning Reno Update, Dividend Possible\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg\",\"datePublished\":\"2022-10-20T03:25:28+00:00\",\"dateModified\":\"2022-10-20T18:44:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Monarch Casino adding to Atlantis Reno, could pay dividend in future.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Atlantis Casino Resort Spa in Reno. Operator Monarch Casino is planning to continue updating the venue. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Monarch Casino Planning Reno Update, Dividend Possible","description":"Monarch Casino adding to Atlantis Reno, could pay dividend in future.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/","og_locale":"en_US","og_type":"article","og_title":"Monarch Casino Planning Reno Update, Dividend Possible","og_description":"Monarch Casino adding to Atlantis Reno, could pay dividend in future.","og_url":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2022-10-20T03:25:28+00:00","article_modified_time":"2022-10-20T18:44:45+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/","url":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/","name":"Monarch Casino Planning Reno Update, Dividend Possible","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg","datePublished":"2022-10-20T03:25:28+00:00","dateModified":"2022-10-20T18:44:45+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Monarch Casino adding to Atlantis Reno, could pay dividend in future.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/monarch-casino-planning-reno-update-dividend-possible\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/atlantis.jpg","width":1280,"height":720,"caption":"Atlantis Casino Resort Spa in Reno. Operator Monarch Casino is planning to continue updating the venue. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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