Highlights

  • Third quarter 2026 net revenue was $146,265 thousand, compared with $142,814 thousand in the third quarter of 2025.
  • Net income for the quarter was $32,005 thousand, or $1.76 per diluted share, compared with $31,576 thousand, or $1.69.
  • Monarch declared a cash dividend of $0.30 per share, payable on December 15, 2026 to holders as of December 1.
  • Cash and cash equivalents were $137.4 million at September 30, 2026, with no borrowings against the credit facility.

Monarch Casino & Resort, Inc. (NASDAQ:MCRI) shares were trading at USD 113.22 on October 28, 2026, down 1.79%, with a relative volume at time of 6.89. The casino operator declared a quarterly cash dividend and reported results for the third quarter ended September 30, 2026 on October 27, 2026, along with share repurchase activity.

Monarch Casino & Resort is incorporated in Nevada and lists its principal executive offices in Reno, Nevada. Through its subsidiaries, the company owns and operates the Atlantis Casino Resort Spa in Reno, Nevada and the Monarch Casino Resort Spa in Black Hawk, Colorado, approximately 40 miles west of Denver. Atlantis has 817 guest rooms and suites, and Monarch Black Hawk has 516. The company reports casino, food and beverage, hotel and other revenues.

Third Quarter 2026 Results

Net revenue for the three months ended September 30, 2026 was $146,265 thousand, compared with $142,814 thousand a year earlier, an increase of 2.4% as stated by the company. Casino revenue increased 3.4%, food and beverage revenue increased 1.3% and hotel revenue increased 0.9%.

Income from operations was $41,275 thousand, compared with $38,173 thousand. Net income was $32,005 thousand, compared with $31,576 thousand, and the company stated that it increased 1.4%. Basic earnings per share were $1.80, compared with $1.73, and diluted earnings per share were $1.76, compared with $1.69.

Selling, general and administrative expense was $29.0 million, compared with $27.5 million. As a percentage of net revenue, it increased to 19.8% from 19.3%, which the company attributed primarily to an increase in legal and employee related expenses. Adjusted EBITDA, a non-GAAP measure, was $56,018 thousand, compared with $54,848 thousand, with an adjusted EBITDA margin of 38.3%.

For the nine months ended September 30, 2026, net revenue was $425,412 thousand, compared with $405,122 thousand. Net income was $92,120 thousand, compared with $78,448 thousand, and diluted earnings per share were $5.06, compared with $4.18.

Balance Sheet, Capital Returns and Litigation

At September 30, 2026, the company had cash and cash equivalents of $137.4 million and no borrowings against its credit facility. Capital expenditures of $9.7 million in the third quarter were funded from operating cash flow.

In the third quarter of 2026, Monarch purchased 300,859 shares of its common stock in the open market for $37 million, funded from operating cash flow. At September 30, 2026, 670,644 shares remained of the 3,000,000 shares originally authorized for repurchase. On September 15, 2026, the company paid a cash dividend of $0.30 per share, totaling $5.3 million.

The company's forward-looking statement risk factors reference its disagreements with the general contractor at Monarch Black Hawk, PCL Construction Services, Inc., and the litigation brought by that contractor. They cite a judgment entered in PCL's favor and against Monarch in the amount of $74,627,657, the outcome of Monarch's appeal and a potential need to post bonds or other surety. The adjusted EBITDA reconciliation shows a principal judgment on construction litigation accrual of $1,129 thousand for the third quarter.

Dividend and Stated Plans

On October 27, 2026, Monarch announced a cash dividend of $0.30 per share, payable on December 15, 2026 to stockholders as of December 1, 2026. The dividend is part of the previously announced annual cash dividend of $1.20 per share payable in quarterly payments and subject to quarterly review and evaluation by the Board of Directors.

The release does not provide numerical financial guidance. Management said it remains committed to technology and other strategic capital investments at both properties, and that it continues to evaluate potential M&A transactions.