Monarch Casino reports Q3 EPS $1.23, consensus $1.44

Reports Q3 revenue $132.97M, consensus $134.8M. John Farahi, co-chairman and CEO of Monarch, commented: “Our 2023 third quarter results were strong as we continued to grow revenue and EBITDA in Black Hawk, and companywide, employed operational efficiencies and expense management. During the third quarter our operating results were negatively impacted by competitive pressure in Reno and the current macroeconomic environment. Third quarter net revenue and Adjusted EBITDA were $133.0 million and $49.2 million, respectively, leading to an Adjusted EBITDA margin of 37.0%.”