Latest News
Monarch Casino Reports Adjustments to 2024 Fourth Quarter and Full Year Financial Results

Monarch Casino & Resort Inc. reported on an SEC Form 8-K filed on February 18, 2025, that the District Court, City and County of Denver, Colorado (Court), issued its decision in the litigation between Monarch and PCL Construction Services Inc. (PCL). The Court awarded damages in favor of PCL of $74,772,551 and awarded $144,894 to Monarch for its counterclaims against PCL. The Court entered a single judgment in the amount of the net difference between the cross-judgment and awarded PCL a principal judgment amount of $74,627,657 (the Judgment).
Based upon its initial review of the Court’s Judgment, Monarch anticipates filing an appeal to the Colorado Court of Appeals.
Monarch further reported that because of the Judgment and because Monarch had announced its fourth quarter and year end results for the periods ended December 31, 2024 on February 11, 2025, before the Judgment was issued, Monarch would update and adjust its fourth quarter and year end results.
Monarch’s balance sheet as of September 30, 2024, included a liability of $47,008,285 due to PCL, which was adjusted as of December 31, 2024 to reflect the Judgment amount.
As a result, an adjustment of $27,619,372 was made to Accounts Payable in the December 31, 2024 Balance Sheet. In accordance with ASC 855-10-20 subsequent events guidance, Monarch reflected the Judgment as a Type I subsequent event in the Company’s Annual Report on SEC Form 10-K, which is being filed with the SEC (the “2024 Form 10-K”). The Company recorded a corresponding expense item, Loss on Litigation, in the amount of $27,619,372.
These adjustments impact the previously reported results as follows:
Net income for the three month and twelve months ended December 31, 2024 were $4211 thousand and $72,769 thousand, respectively, compared to the previously reported $25,495 thousand and $94,053 thousand, respectively.
Basic earnings per share for such periods are $0.23 and $3.91, respectively, compared to the previously reported $1.39 and $5.05, respectively.
Diluted earnings per share for such periods are $0.22 and $3.84, respectively, compared to the previously reported $1.36 and $4.96, respectively.
Adjusted EBITDA (a non-GAAP measure) was not impacted.
The 2024 Form 10-K provides detailed reporting on the above.
Industry News
Gaming and Leisure Properties Inc. Names Carlo Santarelli Senior Vice President, Corporate Strategy and Investor Relations

Gaming and Leisure Properties Inc. announced that Carlo Santarelli has been appointed Senior Vice President, Corporate Strategy and Investor Relations, a new position at the Company. Mr. Santarelli will begin his new position on August 18, 2025 and will report to GLPI President and Chief Operating Officer, Brandon Moore.
Mr. Santarelli brings over 25 years of Wall Street experience in Equity Research and Investment Banking to his new role and joins the Company from Deutsche Bank where he was Managing Director of Gaming & Lodging Equity Research. Prior to Deutsche Bank, Mr. Santarelli held similar positions at Bear Stearns, JP Morgan and Wells Fargo. He consistently ranked highly in Institutional Investor and other sell-side analyst research polls as a thought leader in the space, providing unique perspectives on industry events and trends with his data-driven approach and stock picking talent. Carlo Santarelli graduated from the University of Pennsylvania with a B.A. in Economics in 2000.
Peter Carlino, Chairman and Chief Executive Officer of GLPI, said: “We’ve known and respected Carlo’s research work on the gaming, lodging and gaming REIT sectors for many years. Carlo brings to GLPI an in-depth knowledge of the industry and its participants, having experienced GLPI’s original formation of the gaming triple-net-REIT structure from a research analyst and capital markets perspective. We value his deep network of contacts among institutional investors, sell-side analysts and a wide range of gaming industry operators and we look forward to the value of his contributions.”
In his new role, Mr. Santarelli will work with Mr. Carlino and GLPI’s senior management to develop and evaluate growth opportunities and strategic relationships, and will oversee investor relations interactions.
Industry News
VIP Play Announces Departure of Chief Financial Officer

VIP Play, a technology-driven leader in interactive consumer engagement, announced that Jim Mackey, the Company’s Chief Financial Officer, will step down from his role, effective August 8, 2025.
The Company has initiated a transition process and is in the process of identifying a successor. Mackey will assist in an orderly transition over the coming weeks.
“We thank Jim for his contributions to the Company, particularly during a transformative period for our business. We remain focused on executing our strategic priorities, including financial visibility, operating efficiency, and delivering value to our stakeholders,” said Les Ottolenghi, CEO of VIP Play.
Latest News
BETBY LAUNCHES COMPREHENSIVE REPORT ON PERU’S REGULATED GAMBLING MARKET

BETBY, the premium supplier of cutting-edge sportsbook solutions, has published a detailed report titled “The Peruvian Breakthrough: A Market Ready for Takeoff”, offering a thorough analysis of the country’s newly regulated iGaming industry.
Following the implementation of Peru’s online gambling framework in 2024, this report explores the legislative transformation, market growth trends, and consumer behavior shaping one of Latin America’s most promising emerging markets.
The report covers several key aspects, including:
✅ Evolution of Peru’s gambling legislation and its impact on market structure and operator licensing;
✅ Market performance analysis, including land-based vs. online growth and mobile channel adoption;
✅ Economic indicators, such as GDP contribution, per capita GGR, and projected market size through 2030;
✅ Player profiles and betting behavior, with insights into frequency, motivations, and engagement across age and gender groups;
✅ Digital readiness, including mobile usage, internet speeds, and device preferences;
✅ Competitive landscape, with a breakdown of leading operators and changes in market share.
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