Monarch Q3 net revenue down 0.6% YoY; net income down 12.1%; declares $0.30 dividend

MONARCH CASINO & RESORT INC

2023-Q3 EPS reported $3.27 revenue$373,292,000

Q3 net revenue $133.0M vs $133.7M YoY; net income $24.2M, diluted EPS $1.23, down 12.8%.
Adjusted EBITDA $49.2M, down 4.8% YoY; margin 37.0%.
Casino and hotel revenues declined 4.0% and 0.9% respectively; F&B up 5.3%.
Dividend of $0.30/share declared, payable Dec 15, 2023 to holders of record Dec 1, 2023.
Litigation with PCL Construction ongoing; trial recessed and set to resume Nov 20, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

MONARCH CASINO & RESORT INC reported third quarter ended September 30, 2023 results: revenue $133.0 million, net income $24,163 (in thousands) per table, EPS $1.23 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $133.0 million
Net income: $24,163 (in thousands) per table
EPS: $1.23 per diluted share
Result: reported results

Exact text from the filing

our operating results were negatively impacted by competitive pressure in Reno and the current macroeconomic environment. Third quarter net revenue and Adjusted EBITDA were $133.0 million and $49.2 million, respectively, leading to an Adjusted EBITDA margin of 37.0%. “At Monarch Black Hawk, we are working to further expand market share among mid-to-upper tier

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Source: SEC EDGAR

accession 0001171843-23-006298

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