Monarch Casino & Resort reported second-quarter 2026 net revenue of $142.6 million, up 4.2% from $136.9 million a year earlier. For the first six months, net revenue rose 6.4% to $279.1 million from $262.3 million.
Net income climbed 20.4% in the quarter to $32.5 million from $27.0 million, while six-month net income increased 28.3% to $60.1 million from $46.9 million. Diluted earnings per share rose to $1.78 from $1.44 in the quarter, up 23.6%, and to $3.30 from $2.50 for the first half, up 32.0%.
Adjusted EBITDA increased 3.3% in the quarter to $53.0 million from $51.3 million, and 10.3% for the six-month period to $102.0 million from $92.4 million.
Revenue growth came from all major segments in the quarter. Casino revenue increased 2.5%, food and beverage revenue rose 3.1%, and hotel revenue jumped 13.0% from the prior-year period. The company said hotel and food-and-beverage results benefited from more available rooms at Atlantis and stronger convention and group business.
Operating expenses also moved higher. SG&A expense rose to $28.6 million from $26.8 million, and as a share of net revenue it edged up to 20.0% from 19.6%. Casino operating expense as a percentage of casino revenue improved to 35.5% from 35.7%. Hotel operating expense fell to 32.1% of hotel revenue from 34.3%, while food-and-beverage operating expense climbed to 72.9% from 70.3%.
The company ended the quarter with $138.3 million in cash and cash equivalents and no borrowings on its credit facility. It paid $5.4 million in cash dividends during the quarter and said capital expenditures totaled $5 million, funded from operating cash flow.
Monarch also declared another cash dividend of $0.30 per share, payable September 15, 2026. The market has reacted to these announcements by moving the company's shares -3.75% to a price of $119.72. Check out the company's full 8-K submission here.
