David Farahi
On August 24, 2021, David Farahi announced his intention to resign from his position as Chief Operating Officer of Monarch Casino & Resort, Inc. (the "Company"), effective September 3, 2021.
Highest-materiality recent filing
Net revenue $142.6M (+4.2% YoY); net income $32.5M (+20.4%); diluted EPS $1.78 (+23.6%).
Monarch Casino reelects four directors; say-on-pay approved with 87% support
Directors elected: Farahi (13.2M for), Sullivan (10.6M), Andrews (15.4M), Taitz (15.6M).
Monarch Casino Q1 record: revenue $136.6M (+8.9%), EPS $1.52 (+44.8%), dividend $0.30
Net revenue $136.55M, up 8.9% YoY; net income $27.59M (+38.9%); diluted EPS $1.52 (+44.8%).
Monarch Casino reports record Q4 revenue $140M, adj. EBITDA $51.8M; declares $0.30 dividend
Q4 net revenue $140.0M (+4.1% YoY); net income $22.9M vs $4.2M; diluted EPS $1.25 vs $0.22.
Board changes: Director Landau resigns; Hope Taitz appointed effective Jan 1, 2026
Yvette Landau resigns from board and committees effective Jan 1, 2026; no disagreement with company.
Monarch Casino reports record Q3: revenue $142.8M, net income $31.6M, diluted EPS $1.69
Q3 net revenue $142.8M (+3.6% YoY); net income $31.6M (+14.4% YoY); diluted EPS $1.69 (+15.0% YoY).
Monarch Casino Q2 record revenue $136.9M (+6.8%); EPS $1.44 (+21%); declares $0.30 dividend
Net revenue $136.9M (+6.8% YoY); casino revenue up 12.1%; net income $27.0M (+19.1%).
Monarch Casino stockholders elect Farahi and Landau; say-on-pay passes with 93%
Elected Bob Farahi (12,153,534 for, 4,106,241 against) and Yvette Landau (13,126,260 for, 3,133,503 against) as directors.
Monarch Casino Q1 net revenue $125.4M (+3.1%), diluted EPS $1.05 (+12.9%), declares $0.30 dividend
Net revenue $125.4M, net income $19.9M (+8.7%), Adjusted EBITDA $41.1M (+6.7%), all Q1 records.
Monarch Casino adjusts Q4 and FY2024 earnings downward by $27.6M due to litigation judgment
Net judgment of $74.6M awarded to PCL; Monarch plans appeal to Colorado Court of Appeals.
Colorado court awards $74.6M net judgment against Monarch Casino in construction litigation
Court awarded PCL $74.8M for breach; Monarch $0.14M; net judgment $74.6M for PCL.
Q4 net revenue $134.5M (+4.9% YoY); casino revenue +6.0%, hotel revenue +8.3%.
Monarch Casino amends credit facility to Jan 2028, removes real property lien
Sixth Amended & Restated Credit Agreement with Wells Fargo extends maturity to Jan 1, 2028.
Monarch Casino Q3 net revenue record $137.9M, net income up 14.2%, declares $0.30 dividend
Net revenue $137.9M (+3.7% YoY); diluted EPS $1.47 (+19.5%); net income $27.6M (+14.2%).
Monarch Casino & Resort Reports Record Q2 2024 Revenue and Adjusted EBITDA; Declares $0.30 Dividend
Net revenue record $128.1M (+3.6% YoY); adjusted EBITDA record $43.9M (+4.3% YoY).
Monarch Casino & Resort appoints Deloitte as new auditor, dismisses EY
Board engaged Deloitte & Touche as independent auditor for FY2024, effective July 11, 2024.
Monarch Casino stockholders approve director elections and equity plan amendment at annual meeting
Elected three directors: Farahi, Sullivan, Andrews, each to serve until 2026 annual meeting.
Monarch Casino Q1 revenue up 4.3% to $121.7M; adj. EBITDA record at $38.5M, dividend $0.30/share
Net revenue $121.7M (+4.3% YoY); casino revenue +3.8%, F&B +2.9%, hotel +8.4%.
Monarch Q4 revenue record $128.2M, net income down 18.9%; $0.30 dividend declared
Q4 net revenue $128.2M (+6.3% YoY); adjusted EBITDA $43.0M (+3.4% YoY), both quarterly records.
Monarch Q3 net revenue down 0.6% YoY; net income down 12.1%; declares $0.30 dividend
Q3 net revenue $133.0M vs $133.7M YoY; net income $24.2M, diluted EPS $1.23, down 12.8%.
Monarch Casino & Resort reports record Q2 2023; net revenue up 7.3% to $123.7M, EPS up 15.2%
Net revenue $123.7M (+7.3% YoY), net income $22.4M (+15.3%), diluted EPS $1.14 (+15.2%).
Monarch Casino annual meeting elects directors, approves say-on-pay, adopts 1-year frequency
Stockholders elected Bob Farahi (13M for) and Yvette Landau (14M for) to board until 2025.
Monarch Casino posts record Q1 revenue $116.6M, Adj. EBITDA $36.5M; declares $0.30 dividend
Net revenue $116.6M (record, +7.7% YoY); diluted EPS $0.90 (-2.2% from $0.92 due to higher tax rate).
Monarch Casino reports record Q4 revenue $120.5M, diluted EPS $1.14; declares $5.00 special dividend
Q4 net revenue $120.5M (+8.5% YoY), net income $22.4M, diluted EPS $1.14, Adj EBITDA $41.6M.
Monarch declares $5.00 special dividend, initiates $1.20 annual dividend, amends credit line
One-time cash dividend of $5.00 per share payable March 15, 2023 to holders of record March 1, 2023.
Monarch Casino & Resort posts record Q3: revenue $133.7M, Adj. EBITDA $51.7M (+28% YoY)
Record Q3 net revenue $133.7M (+19.8% YoY); net income $27.5M (+23.2%); diluted EPS $1.41 (+22.6%).
Monarch Casino Q2 net revenue $115.3M (+18%); Adjusted EBITDA $39.5M records
Net revenue $115.3M, up 18% YoY; casino revenue up 10.7%, F&B up 28.7%, hotel up 31.1%.
Shareholders elected John Farahi (12,576,749 for), Craig F. Sullivan (12,926,941), and Paul Andrews (15,322,097) as directors until 2024.
Monarch Casino & Resort posts record Q1: revenue $108.3M (+44.5%), net income +122%
Net revenue of $108.3M, up 44.5% YoY; net income $18.1M, up 122.2%.
Monarch Casino reports record Q4 2021: revenue $111.1M, Adj. EBITDA $39.0M, up 180.7% YoY
Net revenue $111.1M (+90.3% YoY); net income $19.9M (+30.2%); diluted EPS $1.02 (+27.5%).
Monarch Casino Q3 net rev $111.6M (+86.5% YoY), Adj EBITDA $40.3M record, diluted EPS $1.15
Net revenue $111.6M (86.5% YoY increase); net income $22.3M (+107.7%); diluted EPS $1.15 (+101.8%).
Monarch Casino COO David Farahi resigns; Michelle Shriver named Corporate VP of Operations
David Farahi to leave as COO effective Sept 3, 2021, to pursue business interests outside gaming/hospitality; resignation not due to disagreement.
Monarch Casino Q2 record net revenue $97.7M, adjusted EBITDA $35.2M, diluted EPS $0.93
Q2 net revenue $97.7M, up 544.8% YoY (vs $15.2M) and up 55.7% vs Q2 2019; record for second consecutive quarter.
On August 24, 2021, David Farahi announced his intention to resign from his position as Chief Operating Officer of Monarch Casino & Resort, Inc. (the "Company"), effective September 3, 2021.
Max materiality 0.85 · Median 0.70 · Most common event earnings