2021 ended up being one of the best years in history for various casino companies around the United States. That includes Monarch Casino & Resort, a growing Reno-based gaming operator. Today, we’ll take a look at Monarch Casino’s revenue reports for last year’s fourth quarter.
Many analysts were impressed to see how much money this company earned over the year’s fourth quarter. We’ll look ahead and discuss how Monarch Casino might fare in 2022.
Let’s get into it!
Breaking Down Monarch Casino’s Revenue Reports
Nevada has been home to the largest casino industry for many decades. Most think of Las Vegas when Nevada’s casino industry is brought up. Of course, a huge number of popular gambling venues are also based in Reno.
Monarch Casino & Resort is based in Reno and has worked hard to expand over the last few years. That includes Colorado, where it operates one of the most popular gambling venues in Blackhawk. New reports have just surfaced showing this Colorado casino helped to significantly boost the company’s revenue figures over the last few months of 2021.
Monarch Casino’s revenue reports for 2021’s fourth quarter have just surfaced. Many were surprised to see this company experienced a net revenue increase of 80% when compared to the same quarter in 2019. The company generated $111 million in net revenue, driving its total yearly revenue to $400 million. John Farahi, the company’s CEO and Co-Chairman, spoke to the media about this situation earlier this week.
“Our fourth-quarter results capped a year of significant operational and financial accomplishments for Monarch,” Farahi said. “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.”
It’s a very impressive development for what is looking like one of the most successful casino companies in the country. We’ll be sure to continue offering updates on this company’s performances throughout 2022.
Experts Predict a Successful Year for US Casino Operators
The final gaming revenue reports for 2021 are finally starting to come out. Monarch Casino’s revenue reports for the year’s fourth quarter were hugely impressive. It should come as no surprise that this company’s share prices immediately began to surge after these reports surfaced.
It seems likely that 2022 will be an even better year for this industry. With the pandemic seemingly winding down, tourism into gambling hubs is increasing. This will increase leading into the warmer spring and summer months.
Las Vegas is one city preparing for a massive surge of casino revenue this year. The casinos here broke several monthly revenue records throughout 2021. Several major casino sales have taken place in this city lately and companies here are working hard to draw in tourists.
Atlantic City is also very likely to see massive revenue surges this year. Of course, nearby New York is in the process of expanding its gambling industry. Some feel this state’s new gambling options will begin to compete with the ones based in Atlantic City.
Sports betting revenue will likely surge throughout the year, too. Let’s take a quick look at where sports gambling will soon become legal and regulated.
More States Look to Launch Their First Regulated Sportsbooks
It’s not a huge surprise to see casino revenue increasing right now. Millions were essentially locked down for months in 2020. Things began to open in 2021 and many chose to visit popular gambling hubs such as Las Vegas and Atlantic City.
Sports betting has also grown steadily more popular since PASPA was removed in 2018. This is largely due to the increase of regulated sports betting options becoming available. Many more states are now working to launch their first sportsbooks in 2022.
That includes California. Four different sports betting initiatives are currently being considered here. Three are starting to gain serious momentum and it seems very likely that sports gambling will formally be made legal here by the end of the year.
Massachusetts, Minnesota, and Missouri are all interested in legalizing sports betting this year, too. The tax revenue potential is becoming too large for these states to ignore. It may not be long before nearly the entire country has legal sportsbooks up and running.
Are you surprised to see Monarch Casino’s revenue reports for last year’s fourth quarter? How do you think US casinos will fare in 2022? Let us know in the comments section below!