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Monarch Casino & Resort Reports Record Results for Q3 2021

Monarch Casino & Resort Inc. has reported record operating results for the third quarter ended 30 September 2021.
In the 2021 third quarter, the Company generated net revenue of $111.6 million, an increase of 86.5% from $59.9 million in the prior-year quarter. Casino, food and beverage (F&B), and hotel revenues increased 71.4%, 102.3%, and 162.2% year-over-year, respectively. The increase in revenues was driven primarily by the ongoing ramp up in business at the Company’s hotel and expanded casino in Black Hawk. In the third quarter of 2020, Atlantis and Black Hawk revenues were negatively impacted by pandemic-related capacity and other regulatory limitations which remained in effect following the properties’ reopening.
John Farahi, Co-Chairman and CEO of Monarch, said: “Monarch again delivered record financial results as our third quarter benefited from the strong ongoing pandemic recovery, economic and population growth in Denver and Reno, and the notable impact of the removal of betting limits in Colorado. Our focus on operational excellence and market-leading amenities has enabled us to leverage these tailwinds and drive consistent growth. Labor shortages and wage pressure, as well as supply chain constraints and price inflation, remain headwinds. Atlantis operation in Reno was impacted by unhealthy air quality from the California fires and Nevada’s decision to reinstate indoor mask mandates.
“Net revenue and Adjusted EBITDA in the third quarter of 2021 were $111.6 million and $40.3 million, respectively, reaching all-time highs for the second consecutive quarter, as each of our properties generated record net revenue and Adjusted EBITDA. For the second quarter in a row, we also achieved a record Adjusted EBITDA margin of 36.1%.
“Our Black Hawk operations are ramping up, and we are working diligently to complete the legacy facility transformation by year-end. This addition will increase casino space by approximately 25% and restaurant seating by approximately 35%. In just a short time, the property has established itself as the leading casino resort in the greater Denver market, and we continue to grow market share. The May 2021 removal of the Colorado table game bet limit and the addition of Baccarat to our table game mix have resulted in an increase in new customer visitation, particularly high value players from across the Front Range. We have been able to manage the labor shortages and operate the hotel, and food and beverage outlets at full capacity on our busiest nights.
“At Atlantis, we continue to see strong demand across all segments of our business and higher customer spend. That said, Atlantis’ results were negatively impacted by the California fires which lowered air quality in the Reno area to unhealthy levels for at least 26 days. We also saw additional negative impact to visitation beginning on July 30, when mask mandates were again instituted across Nevada. Our ongoing investments in the property continue. We intend to commence a complete renovation of the hotel rooms in the first tower beginning early next year, to ensure that we meet the high standards that our guests have come to expect from Atlantis.
“With the Monarch Black Hawk construction project nearing completion, we are evaluating acquisition opportunities where we can fully leverage our development expertise and operational excellence. The Company has the discipline and balance sheet to continue to deploy capital in a manner that consistently builds shareholder value.”
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Proper Loud and Galactic Announce Groundbreaking Global Partnership to Launch the World’s First Socially-Driven Prediction Market Platform

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SEE BEYOND THE FANTASY: ZITRO TEASES BIG REVEAL AT G2E LAS VEGAS 2025

Zitro is gearing up for a milestone appearance at this year’s Global Gaming Expo (G2E) in Las Vegas, promising an experience filled with new content, innovation, and a highly anticipated product debut. Located in a premium new space on Fremont Street, Zitro’s booth will be 120% larger than last year, marking the company’s most significant investment at G2E to date. Zitro’s expanded presence underscores its unstoppable growth and commitment to the U.S. market.
Building on this momentum, a “new unveiling” will take place exclusively at the show—an experience crafted to awaken the senses. While details remain under wraps, this launch marks a significant step forward in the company’s product roadmap, and interest in this addition is already growing, making Zitro’s presence a must-see at G2E 2025.
In addition to this exciting reveal, attendees will experience an impressive showcase of new game titles for Zitro’s proven performer cabinet, CONCEPT. Featured games include fan favorites like Legendary Sword and King Fu Frog, and exciting additions such as River Gold, Tied Up! Coins, Goddess Saga, and Ancient Link. Also debuting are thrilling new adventures with Haunted Fortune, Octo Gold, Rainbow Birds, and Spin Fu, among others—all part of a new wave of content designed to deliver diverse gameplay experiences and drive performance on casino floors.
“We’re excited to return to G2E with a dramatically expanded presence, an unmatched lineup of new titles, and a groundbreaking product that we can’t wait to unveil,” said Derik Mooberry, CEO of Zitro USA. “Our growth in the U.S. is accelerating, and this year’s G2E is the perfect stage to show just how far we’ve come. Our expanded footprint reflects the strength of our portfolio and the trust our partners place in us. We look forward to welcoming visitors to see beyond the fantasy at our new booth and sharing the next chapter of Zitro’s story.”
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Wyoming Horse Racing Selects Quick Custom Intelligence Enterprise Platform

Quick Custom Intelligence (QCI) and Wyoming Horse Racing are thrilled to announce their strategic partnership that is set to transform the gaming and hospitality landscape in the Wyoming market. This dynamic collaboration represents an exciting fusion of advanced technology and exceptional guest experiences. By leveraging QCI’s cutting-edge data analytics platform, the partnership aims to redefine how casinos operate, providing unparalleled insights into player behavior, enhancing operational efficiency, and delivering personalized guest experiences like never before. This bold move positions Wyoming Horse Racing at the forefront of innovation, setting a new standard in how technology can drive the future of gaming and hospitality.
This partnership marks the beginning of a new era, where the seamless integration of artificial intelligence, data-driven decision-making, and world-class service will create an unmatched environment for entertainment and hospitality in the region.
Steven Jimenez, Executive General Manager of Wyoming Horse Racing, shared his excitement about this partnership, stating, “We are excited to embark on this transformative journey with QCI. The QCI platform is truly a game-changer for our host and marketing departments, and we’re confident it will not only optimize our operations but also enhance the quality of service and entertainment we provide to our valued guests. With QCI’s innovative solutions, we’re poised to deliver an unparalleled gaming experience in the Wyoming market. This partnership perfectly aligns with our commitment to excellence and innovation.”
Dr. Ralph Thomas, CEO of QCI, expressed his satisfaction with this newly established partnership, stating, “we place immense value on partnerships that are built on mutual respect, a shared vision, and a strong commitment to innovation. Our collaboration with Wyoming Horse Racing exemplifies this kind of relationship. From the very beginning, we have been deeply impressed by the Wyoming Horse Racing team’s dedication, their passion for excellence, and their relentless focus on delivering extraordinary guest experiences. I am incredibly proud of what we have already achieved together and even more excited for the future. This partnership represents a unique opportunity to set new benchmarks in the Wyoming market, and I am confident that together, we will redefine what’s possible in the gaming and hospitality industry.”
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