Monarch Casino & Resort, based in Reno, NV, has been working hard to grow over the past few years. It has done well, especially as it targets Colorado. There, it operates a popular Blackhawk gambling venue, the Monarch Casino Resort Spa. Recent reports show that this Colorado venue has significantly increased the company’s revenues over the past few months. And, this is only the beginning.
Monarch Takes Flight
Monarch Casino & Resort saw its net revenue rise by more than 90% in the fourth quarter of 2021. This was the culmination of a strong twelve-month. The quarter saw the casino operator generate over $111 million in net revenue. As a result, Monarch saw its full-year total up to almost $400 million, which represents 114.4% growth.
This was despite the presence of COVID-19. Monarch’s performance was actually significantly higher than pre-pandemic levels. The fourth-quarter revenues were almost 80% higher than the same period in 2019, while its full-year revenue was 58% more.
Monarch’s net revenue growth was even greater. It was almost $20 million in the last quarter of 2021, an increase of 220.7% over 2019. The full-year revenue was $68.5 million, a 115% improvement.
Monarch’s casino, food & beverage and hotel revenue increased by 74.1%, 111.4% and 156.6%, respectively, for the fourth quarter of last year.
Monarch Ready for More Growth
These rises were attributed to Monarch’s expansion of operations at its casino and hotel in Black Hawk after they had been impacted by COVID-19-related limitations, as well as other regulatory actions.
John Farahi, the company’s CEO and co-chairman, stated that the fourth-quarter results capped a year of “significant operational and financial accomplishments” for the operator.
In 2021, we successfully transformed our Monarch Black Hawk into a full-scale casino resort spa. On 1 May 2021, we immediately took advantage of the elimination of betting limits in Black Hawk and expanded our game mix.” John Farahi, CEO and co-chairman of Monarch.
Farahi expects even stronger activity this year. He added that 2022 will again be a year of strong operational performance and financial results.
Las Vegas is the city that’s preparing for a huge increase in casino revenue this year. In 2021, the casinos broke many monthly revenue records. Now that Nevada’s mandatory COVID-19 mask requirement has been lifted, greater activity will come to Vegas, Reno and other areas throughout the state.
Atlantic City will also see significant revenue increases this year and New York is expanding its gambling market. Many believe that this state’s new options for gambling will be able to compete with those based in Atlantic City. Overall, gambling revenue everywhere should see a significant improvement as 2022 progresses.