Monarch Casino & Resort | research notes

Monarch Casino & Resort: A Premier Destination for Gaming and Entertainment

Monarch Casino & Resort, Inc. is an American casino and hospitality company headquartered in Reno, Nevada. Founded in 1993, the company operates seven properties in four states, offering a wide range of gaming, dining, and entertainment options.

Origins and Growth

Monarch Casino & Resort was founded by John Ascuaga, a Reno businessman and former mayor. The company's first property was the Monarch Casino in Black Hawk, Colorado, which opened in 1994. Over the years, Monarch has expanded through acquisitions and new developments, establishing a strong presence in key gaming markets.

Properties

Monarch Casino & Resort operates three properties in Nevada:

• Monarch Casino Resort Spa Black Hawk: A 509-room hotel and casino in Black Hawk, Colorado, featuring over 1,200 slot machines, 35 table games, a poker room, and a variety of dining options.
• Monarch Casino Resort Spa Reno: A 778-room hotel and casino in Reno, Nevada, offering 1,600 slot machines, 40 table games, a sportsbook, and several restaurants.
• Nugget Casino Resort: A historic casino and hotel in Sparks, Nevada, with 1,000 slot machines, 24 table games, and a selection of dining and entertainment venues.

The company also operates two properties in Mississippi:

• Golden Nugget Biloxi: A 723-room hotel and casino in Biloxi, Mississippi, featuring 1,100 slot machines, 30 table games, and a poker room.
• Golden Nugget Tunica: A 636-room hotel and casino in Tunica, Mississippi, offering 1,100 slot machines, 26 table games, and a sportsbook.

Additionally, Monarch owns and operates a property in Indiana:

• Tropicana Evansville: A 336-room hotel and casino in Evansville, Indiana, with 1,000 slot machines, 24 table games, and a sportsbook.

Amenities

Monarch Casino & Resort properties offer a diverse range of amenities to enhance the guest experience:

• Gaming: Casino floors packed with slot machines, table games, and poker rooms.
• Dining: A variety of dining options, from casual eateries to fine dining establishments.
• Entertainment: Live music venues, comedy clubs, and special events.
• Spa and Wellness: Luxurious spas, fitness centers, and pools.
• Hotel Accommodations: Spacious rooms and suites with modern amenities.

Financial Performance

Monarch Casino & Resort has consistently reported strong financial performance, driven by its focus on customer satisfaction and operational efficiency. In 2022, the company generated over $1 billion in net revenue and EBITDA of $285 million.

Community Involvement

Monarch Casino & Resort is a strong supporter of its surrounding communities. The company invests in local charities, educational initiatives, and economic development projects to make a positive impact.

Conclusion

Monarch Casino & Resort is a well-established gaming and hospitality company with a proven track record of success. The company's portfolio of properties offers a wide range of amenities to meet the needs of discerning travelers. Monarch's commitment to quality, innovation, and community involvement has made it a respected brand in the industry. With its strong financial performance and expanding presence, Monarch Casino & Resort is well-positioned for continued growth in the future.

Business Model of Monarch Casino & Resort Company

Monarch Casino & Resort Company is a regional gaming and hospitality company that operates casinos, hotels, and other entertainment amenities in Nevada, Colorado, Mississippi, and New Jersey.

Key Components of the Business Model:

• Casino Gaming: Monarch's primary revenue generator is casino gaming, which includes slot machines, table games, and poker.
• Hotel Accommodations: The company offers hotel rooms and suites at its properties, catering to both leisure and business travelers.
• Dining and Entertainment: Monarch operates a variety of restaurants, bars, and entertainment venues within its resorts.
• Sports Betting: The company has recently expanded into sports betting through partnerships with third-party operators.

Advantages Over Competitors

• Regional Focus: Monarch focuses on operating casinos in smaller regional markets, where competition is typically less intense than in larger metropolitan areas.
• Customized Amenities: The company tailors its amenities to the specific needs of the local market, offering a more personalized and localized experience.
• Loyalty Programs: Monarch operates loyalty programs that reward customers for their play at its casinos and amenities.
• Cost-Effective Operations: The company has implemented cost-saving measures to improve its profitability, including shared services and centralized operations.
• Partnerships: Monarch has established strategic partnerships with other gaming operators, such as Caesars Entertainment and BetMGM, to enhance its offerings and expand its reach.

Value Proposition to Customers:

• Convenient and Accessible: Located in regional markets, Monarch's casinos and resorts are easily accessible to local customers.
• Tailored Amenities: The company's customized amenities cater to the specific preferences and interests of its guests.
• Loyalty Rewards: Customers can earn rewards and benefits through the company's loyalty programs.
• Entertainment and Dining Options: Monarch offers a wide range of entertainment and dining options to enhance the guest experience.
• Value for Money: Compared to larger casinos in metropolitan areas, Monarch's regional properties typically offer better value for money.

Outlook of Monarch Casino & Resort

Company Overview

Monarch Casino & Resort, Inc. is a regional gaming company that owns and operates four casinos and resorts in three states: Nevada, Mississippi, and Indiana. The company's properties include:

• Monarch Casino Resort Spa Black Hawk (Black Hawk, Colorado)
• Monarch Casino Resort Spa (Reno, Nevada)
• Atlantis Casino Resort Spa (Reno, Nevada)
• Scarlet Pearl Casino Resort (Biloxi, Mississippi)

Industry Position

Monarch is a small to mid-sized player in the US gaming industry. It competes with larger companies such as MGM Resorts, Caesars Entertainment, and Wynn Resorts. However, the company has established a strong regional presence in its target markets.

Financial Performance

In recent years, Monarch has experienced solid financial performance. Key financial metrics include:

• Revenue: $554.7 million in 2022 (up 4.4% year-over-year)
• Net income: $115.1 million in 2022 (up 16.2% year-over-year)
• Adjusted EBITDA: $200.6 million in 2022 (up 6.3% year-over-year)

Outlook

Monarch's outlook for the future is generally positive. The company has a number of growth initiatives in place, including:

• Expansion in Colorado: The company is planning to build a new casino in Cripple Creek, Colorado, which is expected to open in 2025.
• Renovations and upgrades: Monarch is investing in renovations and upgrades to its existing properties to enhance the guest experience.
• Strategic partnerships: The company is exploring strategic partnerships with other gaming and entertainment companies to expand its reach.

Industry Challenges

The gaming industry faces a number of challenges, including:

• Competition: The industry is highly competitive, and new casinos and resorts are constantly being built.
• Regulatory challenges: The industry is heavily regulated, and changes in regulations can have a significant impact on operations.
• Economic downturns: The industry is cyclical, and economic downturns can lead to a decline in gaming revenue.

Mitigation Strategies

Monarch is taking steps to mitigate industry challenges by:

• Focusing on regional markets: The company operates in regional markets where it has a strong brand presence.
• Diversifying revenue streams: Monarch offers a range of gaming, dining, and entertainment options to diversify its revenue base.
• Investing in customer loyalty: The company invests in customer loyalty programs to retain existing customers and attract new ones.

Overall

Monarch Casino & Resort is a well-positioned company in the gaming industry. The company has a strong regional presence, solid financial performance, and a number of growth initiatives in place. While the industry faces some challenges, Monarch is taking steps to mitigate these challenges and continue its growth trajectory.

Similar Companies to Monarch Casino & Resort that Customers May Also Like:

1. Penn National Gaming

• Home page: https://www.pngaming.com/
• Established in 1972, Penn National is a leading operator of casinos and racetracks in the United States. Its properties include Hollywood Casino Perryville in Maryland and Hollywood Casino Gulf Coast in Mississippi. Customers appreciate their extensive gaming options, upscale amenities, and loyalty program.

2. Boyd Gaming Corporation

• Home page: https://www.boydgaming.com/
• Boyd Gaming is a Nevada-based casino operator founded in 1975. It owns and operates casinos in several states, including Mississippi, Louisiana, and Pennsylvania. Customers value their generous promotions, comfortable accommodations, and variety of dining options.

3. Golden Entertainment, Inc.

• Home page: https://www.goldenent.com/
• Golden Entertainment is a Colorado-based casino operator that focuses on smaller-scale properties in regional markets. Its casinos feature video gaming machines, table games, and sports betting. Customers appreciate their local atmosphere, personalized service, and value-oriented offerings.

4. MGM Resorts International

• Home page: https://www.mgmresorts.com/
• MGM Resorts is one of the largest casino operators in the world, known for its iconic properties on the Las Vegas Strip. It also operates casinos in other states, including Mississippi and Pennsylvania. Customers admire their luxurious resorts, high-quality entertainment, and world-class gaming experiences.

5. Caesars Entertainment, Inc.

• Home page: https://www.caesars.com/
• Caesars Entertainment is another major casino operator with a nationwide presence. Its properties include Harrah's Gulf Coast in Mississippi and Horseshoe Baltimore in Maryland. Customers appreciate their wide range of gaming options, dining establishments, and immersive entertainment venues.

History of Monarch Casino & Resort, Inc.

1992:

• Monarch Casino & Resort, Inc. is founded in Reno, Nevada.
• Opens Monarch Casino Resort Spa in Black Hawk, Colorado.

1994:

• Acquires Edgewater Hotel and Casino in Laughlin, Nevada.

1997:

• Opens Monarch Casino Resort Spa in Cripple Creek, Colorado.

1998:

• Completes construction of Monarch Hotel and Casino in Reno, Nevada.

1999:

• Acquires Colorado Grande Casino and Hotel in Central City, Colorado.

2002:

• Acquires Grand Lodge Casino and Hotel in Black Hawk, Colorado.

2003:

• Completes construction of Monarch Place Hotel and Convention Center in Black Hawk, Colorado.

2009:

• Acquires Atlantis Casino Resort Spa in Reno, Nevada.

2014:

• Opens Monarch Casino Resort Spa in Lake Charles, Louisiana.

2015:

• Acquires Reno Peppermill Resort Casino Spa in Reno, Nevada.

2016:

• Divests Edgewater Hotel and Casino in Laughlin, Nevada.
• Divests Grand Lodge Casino and Hotel in Black Hawk, Colorado.

2017:

• Opens Monarch Casino Resort Spa Casino in Niagara Falls, Ontario, Canada.

2019:

• Divests Atlantis Casino Resort Spa in Reno, Nevada.

2021:

• Acquires Eastern Isle Gaming Resort in Clinton, Iowa.

2022:

• Completes expansion of Monarch Casino Resort Spa in Lake Charles, Louisiana.

Present:

• Monarch Casino & Resort, Inc. operates nine casinos and resorts in six states, including:
  • Colorado: Monarch Casino Resort Spa in Black Hawk and Cripple Creek; Colorado Grande Casino and Hotel in Central City
  • Iowa: Eastern Isle Gaming Resort in Clinton
  • Louisiana: Monarch Casino Resort Spa in Lake Charles
  • Nevada: Monarch Hotel and Casino and Reno Peppermill Resort Casino Spa in Reno
  • Ontario, Canada: Monarch Casino Resort Spa Casino in Niagara Falls

2023

• January 18, 2023: Monarch Casino & Resort reports fourth-quarter and full-year 2022 financial results.
• March 9, 2023: Monarch Casino & Resort completes the acquisition of Twin River Casino in Rhode Island.
• April 5, 2023: Monarch Casino & Resort announces plans to expand its Black Hawk property in Colorado.

2022

• January 20, 2022: Monarch Casino & Resort reports third-quarter 2021 financial results.
• March 24, 2022: Monarch Casino & Resort announces the acquisition of the Diamond Jo Casino in Dubuque, Iowa.
• October 20, 2022: Monarch Casino & Resort completes the acquisition of the Atlantis Casino Resort Spa in Reno, Nevada.

2021

• February 4, 2021: Monarch Casino & Resort reports fourth-quarter and full-year 2020 financial results.
• May 12, 2021: Monarch Casino & Resort announces a $400 million investment in its Black Hawk property in Colorado.
• August 3, 2021: Monarch Casino & Resort completes the acquisition of the Gold Strike Casino Resort in Mississippi.

Unveiling the Monarch Casino & Resort: A Gateway to Unparalleled Entertainment and Luxury

Are you ready to embark on an extraordinary gaming and vacation experience? Step into the vibrant world of Monarch Casino & Resort, where excitement and indulgence intertwine.

Website: http://www.monarchcasinoresort.com/

Experience the Thrill of the Casino

Our state-of-the-art casino offers an unparalleled selection of table games, slot machines, and more. Whether you're a seasoned gambler or a recreational player, there's something for every taste and skill level.

• Indulge in the thrill of blackjack, poker, roulette, and a wide range of slots
• Enjoy the latest and greatest gaming technology
• Feel the adrenaline rush as you test your luck and chase the big win

Escape to Paradise at the Resort

Beyond the casino, Monarch Resort offers a sanctuary of relaxation and rejuvenation.

• Luxuriate in our spacious and elegant guest rooms
• Pamper yourself at our full-service spa
• Dine at our world-class restaurants, from gourmet cuisine to casual bites
• Stay active at our state-of-the-art fitness center
• Unwind by the sparkling pool or sip cocktails at the lively bar

Entertainment for Every Occasion

Monarch Casino & Resort is the ultimate destination for entertainment and nightlife.

• Witness breathtaking live performances in our spectacular theater
• Dance the night away at our energetic nightclub
• Enjoy a night of laughter with our comedy shows
• Immerse yourself in art exhibits and cultural events

Unbeatable Value and Promotions

Join our loyalty program to access exclusive perks and rewards. Take advantage of our generous promotions, including:

• Free play offers
• Cashback bonuses
• VIP packages
• Special event discounts

Plan Your Getaway Today

Book your stay at Monarch Casino & Resort and prepare for an unforgettable experience. Visit our website or call our friendly team to inquire about our latest packages and deals.

Website: http://www.monarchcasinoresort.com/

Escape the ordinary and indulge in the extraordinary at Monarch Casino & Resort. Whether you're seeking gaming excitement, luxurious accommodations, or world-class entertainment, our resort offers everything you need for an unparalleled stay.

Monarch Casino & Resort is a casino and hotel operator with properties in Colorado, Indiana, Louisiana, Mississippi, Nevada, and New Jersey. The company's main suppliers include:

• Gaming equipment: Monarch Casino & Resort purchases gaming equipment from a variety of suppliers, including Aristocrat Leisure, International Game Technology (IGT), Konami Gaming, and Scientific Games.
• Hotel supplies: The company purchases hotel supplies from a variety of suppliers, including Avendra, Cintas, and Sysco.
• Food and beverage: Monarch Casino & Resort purchases food and beverage from a variety of suppliers, including Sysco, US Foods, and Performance Food Group.
• Utilities: The company purchases utilities from a variety of suppliers, including NV Energy, CenterPoint Energy, and Indiana Michigan Power.

Website: https://www.monarchcasino.com/

Note: The information provided above is based on publicly available information and may not be entirely accurate or up to date. For the most accurate and up-to-date information, please refer to Monarch Casino & Resort's website or contact the company directly.

Main Customers (Downstream Companies) of Monarch Casino & Resort

Monarch Casino & Resort's primary customers are individuals seeking entertainment and hospitality services. The company's main customer segments include:

1. Casino Players:

• Target Market: Individuals over the legal gambling age (typically 21 or 25, depending on the jurisdiction) who enjoy slot machines, table games, and other casino offerings.
• Primary Goal: To provide an engaging and entertaining casino experience, drive player loyalty, and maximize gaming revenue.

2. Restaurant and Bar Patrons:

• Target Market: Individuals seeking dining, socializing, and entertainment options in a casino setting.
• Primary Goal: To offer high-quality food and beverage experiences, attract non-gamblers, and generate incremental revenue streams.

3. Convention and Event Attendees:

• Target Market: Organizations, businesses, and individuals planning conferences, meetings, weddings, and other special events.
• Primary Goal: To provide a comprehensive range of event services, including meeting spaces, catering, and technical support, to generate revenue and enhance brand reputation.

4. Hotel Guests:

• Target Market: Individuals seeking overnight accommodations in the vicinity of the casino or business travelers attending events.
• Primary Goal: To offer comfortable and convenient hotel experiences, cater to the needs of both leisure and business travelers, and generate room revenue.

5. Spa and Salon Clients:

• Target Market: Individuals seeking relaxation, rejuvenation, and beauty services.
• Primary Goal: To provide a range of spa and salon treatments, enhance customer well-being, and generate additional revenue sources.

Website: https://www.monarchcasino.com/

Key Revenue Streams of Monarch Casino & Resort

Casino Operations (85% of revenue)

• Slot machines
• Table games
• Electronic table games
• Sports betting

Estimated Annual Revenue from Casino Operations: $434.7 million

Hotel Operations (10% of revenue)

• Room rentals
• Food and beverage sales from restaurants and bars
• Spa and fitness center services
• Meeting and event space rentals

Estimated Annual Revenue from Hotel Operations: $51.2 million

Food and Beverage Operations (5% of revenue)

• Restaurants and bars located within the casino and hotel

Estimated Annual Revenue from Food and Beverage Operations: $25.6 million

Other Revenue (Negligible)

• Lottery sales
• Merchandise sales
• Entertainment and promotions

Estimated Annual Revenue from Other Revenue: Less than $1 million

Total Estimated Annual Revenue: $511.5 million

Key Partners of Monarch Casino & Resort, Inc.

Name: Penn National Gaming, Inc. Website: https://www.pngaming.com

Relationship: Strategic partnership

Details:

• Penn National Gaming, Inc. (PNG) is a leading provider of gaming and entertainment experiences with operations across 19 states, including Mississippi.

• In 2019, PNG entered into a strategic partnership with Monarch Casino & Resort, Inc. to enhance the gaming offerings at Monarch's three Mississippi properties:

  • Monarch Casino & Resort in Black Hawk
  • Horseshoe Tunica Casino & Hotel in Tunica
  • Sam's Town Hotel & Casino in Tunica

• Under the partnership, PNG has exclusive rights to operate sports betting and online gaming at Monarch's properties in Mississippi.

• PNG also provides Monarch with access to its loyalty program, player database, and marketing expertise.

Benefits of the Partnership:

• Enhanced gaming experience for Monarch's customers through the addition of sports betting and online gaming.
• Increased revenue for Monarch through cross-marketing initiatives and shared player databases.
• Cost savings for Monarch by leveraging PNG's scale and expertise.
• Strengthened market position for both Monarch and PNG in the competitive Mississippi gaming market.

Additional Key Partners:

Name: Caesars Entertainment, Inc. Website: https://www.caesars.com

Relationship: Marketing partnership

Details:

• Caesars Entertainment is one of the world's largest casino and entertainment companies.
• In 2021, Monarch Casino & Resort entered into a marketing partnership with Caesars to cross-promote their properties and amenities to their respective customers.
• Monarch's customers can now earn and redeem Caesars Rewards loyalty points atMonarch's three Mississippi properties.
• Caesars customers can also enjoy exclusive offers and discounts at Monarch's properties.

Name: Boyd Gaming Corporation Website: https://www.boydgaming.com

Relationship: Strategic partnership

Details:

• Boyd Gaming Corporation is a leading gaming and entertainment company with operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio, and Pennsylvania.
• In 2022, Monarch Casino & Resort and Boyd Gaming announced a strategic partnership to develop and operate a new casino in Springfield, Missouri.
• The new casino, known as the Monarch Casino Resort Spa Springfield, is expected to open in 2024.
• The partnership combines Monarch's local market knowledge with Boyd Gaming's expertise in casino development and operations.

Key Cost Structure of Monarch Casino & Resort

1. Gaming Operations

• Slot Machines: Monarch Casino & Resort operates over 1,500 slot machines, which generate the majority of its gaming revenue. The estimated annual cost of slot machine operations includes:

  • Machine rentals and maintenance
  • Game software licensing and updates
  • Patron rewards and promotions

• Table Games: Monarch Casino & Resort offers a variety of table games, including blackjack, roulette, craps, and baccarat. The estimated annual cost of table game operations includes:

  • Dealer salaries and benefits
  • Table equipment and supplies
  • Game management and oversight

• Sports Betting: Monarch Casino & Resort offers sports betting through its BetMonarch platform. The estimated annual cost of sports betting operations includes:

  • Sportsbook software and trading services
  • Marketing and promotions
  • Risk management and regulatory compliance

2. Hotel Operations

Monarch Casino & Resort operates a 418-room hotel. The estimated annual cost of hotel operations includes:

• Salaries and benefits: Housekeeping, front desk, and maintenance staff
• Supplies and amenities: Linens, toiletries, and other guest amenities
• Utilities: Electricity, water, and gas
• Maintenance and repairs: Building maintenance, repairs, and renovations

3. Food and Beverage Operations

Monarch Casino & Resort operates several restaurants and bars. The estimated annual cost of food and beverage operations includes:

• Salaries and benefits: Chefs, servers, and bartenders
• 食材和饮料成本: Food and beverage purchases
• Utilities: Gas, electricity, and water
• Equipment and maintenance: Kitchen equipment and dining room supplies

4. Marketing and Advertising

Monarch Casino & Resort spends significant amounts on marketing and advertising to attract new customers and retain existing ones. The estimated annual cost of marketing and advertising includes:

• Traditional advertising: Television, radio, and print ads
• Digital marketing: Social media, search engine optimization, and email campaigns
• Loyalty programs and promotions: Rewards cards, special offers, and events

5. General and Administrative Expenses

Monarch Casino & Resort incurs various general and administrative expenses, including:

• Salaries and benefits: Executive management, finance, and HR
• Professional fees: Legal, accounting, and consulting services
• Insurance: Property and liability insurance
• Property taxes and licenses: Taxes on real estate and business operations

Estimated Annual Cost

The estimated annual cost of operating Monarch Casino & Resort varies depending on factors such as seasonality, economic conditions, and competition. However, based on the company's financial statements and industry benchmarks, the estimated annual cost is approximately:

• Gaming Operations: $150 million - $200 million
• Hotel Operations: $20 million - $30 million
• Food and Beverage Operations: $15 million - $20 million
• Marketing and Advertising: $10 million - $15 million
• General and Administrative Expenses: $10 million - $15 million

Total Estimated Annual Cost: $205 million - $280 million

Sales Channels

Monarch Casino & Resort utilizes a variety of sales channels to reach its target audience and generate revenue. These channels include:

• Casinos: Monarch operates seven casinos in three states: Nevada, New Jersey, and Mississippi. These casinos offer a range of gaming options, including slot machines, table games, and poker.
• Hotel rooms: Monarch owns and operates over 1,000 hotel rooms across its seven casino properties.
• Restaurants: Monarch offers a variety of dining options at its casino properties, including fine dining, casual dining, and quick-service restaurants.
• Meeting and event spaces: Monarch's casinos offer meeting and event spaces for corporate events, weddings, and other special occasions.
• Online gaming: Monarch offers online gaming options through its website and mobile app.
• Loyalty program: Monarch's loyalty program, Monarch Rewards, provides members with rewards and benefits based on their gaming activity.

Estimated Annual Sales

Monarch Casino & Resort's estimated annual sales for the fiscal year 2021 were approximately $424.3 million. This revenue was generated from the following sources:

• Gaming revenue: $360.4 million
• Hotel revenue: $32.4 million
• Restaurant revenue: $16.2 million
• Other revenue: $15.3 million

Breakdown of Sales by Channel

Based on the available information, it is difficult to determine the exact breakdown of sales by channel for Monarch Casino & Resort. However, it is likely that the majority of revenue is generated from gaming operations, with a significant portion also coming from hotel operations. Online gaming and other revenue streams are likely to contribute a smaller percentage to overall sales.

Customer Segments of Monarch Casino & Resort

Monarch Casino & Resort primarily targets five distinct customer segments:

1. Local Residents (50% of Sales)

• Comprise the majority of the casino's customer base.
• Reside within a 50-mile radius of the property.
• Visit the casino for entertainment, gaming, and dining.
• Annual sales: Estimated at $250 million

2. Regional Tourists (30% of Sales)

• Travel from surrounding states and cities for weekend getaways or special events.
• Value the casino's amenities, such as hotel accommodations, restaurants, and entertainment venues.
• Annual sales: Estimated at $150 million

3. High-End Gamblers (10% of Sales)

• Seek exclusive experiences and high-stakes gaming opportunities.
• Participate in the casino's VIP loyalty program and enjoy personalized services.
• Annual sales: Estimated at $50 million

4. Business Travelers (5% of Sales)

• Book hotel rooms for business events, conferences, or overnight stays.
• Utilize the casino's meeting and conference facilities.
• Annual sales: Estimated at $25 million

5. Group and Charter Business (5% of Sales)

• Organize group outings, such as corporate events, bus tours, and parties.
• Benefit from customized packages and amenities tailored to their needs.
• Annual sales: Estimated at $25 million

Estimated Annual Sales by Segment:

| Segment | Percentage of Sales | Estimated Annual Sales | |---|---|---| | Local Residents | 50% | $250 million | | Regional Tourists | 30% | $150 million | | High-End Gamblers | 10% | $50 million | | Business Travelers | 5% | $25 million | | Group and Charter Business | 5% | $25 million | | Total | 100% | $500 million

Monarch Casino & Resort, Inc. is a casino and resort company with operations in Black Hawk, Colorado; Reno, Nevada; and Atlantic City, New Jersey. The company's value proposition is based on its:

• Diverse portfolio of gaming offerings: Monarch Casino & Resort owns and operates three casinos that offer a variety of gaming options, including slots, table games, and sports betting. This diversity of offerings meets the needs of a wide range of customers, from casual gamblers to serious gamers.
• Convenient locations: Monarch Casino & Resort's casinos are located in popular gaming destinations, such as Black Hawk, Reno, and Atlantic City. The close proximity of these casinos to major population centers and tourist attractions makes them easily accessible to a large number of potential customers.
• Comfortable and luxurious accommodations: Monarch Casino & Resort's casinos offer comfortable and luxurious accommodations, including hotel rooms, suites, and villas. These accommodations are designed to appeal to both business and leisure travelers, and they provide a relaxing and enjoyable experience for guests.
• Exceptional customer service: Monarch Casino & Resort is committed to providing exceptional customer service. Its staff is friendly and attentive, and they go the extra mile to ensure that guests have a positive experience. This commitment to customer service is reflected in the company's high customer satisfaction ratings.
• Value-added amenities and services: Monarch Casino & Resort's casinos offer a variety of value-added amenities and services, such as restaurants, bars, spas, and fitness centers. These amenities and services enhance the overall experience for guests and make the casinos a more attractive destination.

Overall, Monarch Casino & Resort's value proposition is based on its diverse gaming offerings, convenient locations, comfortable accommodations, exceptional customer service, and value-added amenities and services. The company's ability to meet the needs of a wide range of customers in a variety of locations has made it a successful operator in the casino and resort industry.

Monarch Casino & Resort, Inc. (MCRI) is a casino and resort company that operates casinos in Colorado, Indiana, Mississippi, Nevada, and New Jersey. The company's risks include:

• Competition: The casino industry is highly competitive, and MCRI faces competition from other casinos, as well as from other forms of entertainment and gambling.
• Regulatory environment: The casino industry is heavily regulated, and MCRI is subject to a variety of laws and regulations. Changes in these laws and regulations could negatively impact the company's business.
• Economic conditions: The casino industry is cyclical, and MCRI's business is impacted by economic conditions. A downturn in the economy could lead to a decline in gambling revenue.
• Natural disasters: MCRI's casinos are located in areas that are subject to natural disasters, such as hurricanes and earthquakes. A natural disaster could damage or destroy the company's casinos and disrupt its business.
• Cybersecurity: MCRI's casinos use a variety of information technology systems, and the company is subject to cybersecurity risks. A cyberattack could disrupt the company's business or result in the loss of sensitive data.

In addition to these general risks, MCRI is also subject to the following company-specific risks:

• Reliance on a limited number of casinos: MCRI's business is concentrated in a relatively small number of casinos, which makes the company more vulnerable to competition and other risks.
• High levels of debt: MCRI has a high level of debt, which could limit its ability to invest in new opportunities and could make the company more vulnerable to a downturn in the economy.
• Pending litigation: MCRI is involved in a number of lawsuits, which could result in significant financial penalties or other damages.

Overall, MCRI is a risky investment. The company's business is subject to a variety of risks, including competition, regulatory changes, economic conditions, natural disasters, and cybersecurity risks.