Monarch Casino & Resort Inc: Key Developments
Monarch Casino & Resort, Inc. Increases Credit Line To $60 Million From $50 Million-DJ
January 26, 2009 |
| Dow Jones reported that, Monarch Casino & Resort, Inc. said that it has increased a line of credit to $60 million from $50 million. |
Monarch Casino & Resort, Inc. Announces Share repurchase
February 20, 2008 |
| Monarch Casino & Resort, Inc. announced that it ahs repurchased in open market transactions 523,396 shares of the Company's common stock at a weighted average purchase price of $25.03 per share. |
Monarch Casino & Resort, Inc. Announces Stock Repurchase Program
September 29, 2006 |
| Monarch Casino & Resort, Inc. announced a program to repurchase 1,000,000 shares of the Company's common stock. These repurchases will be made in open market or in privately negotiated transactions from time to time in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, subject to market conditions, applicable legal requirements and other factors. |
Monarch Casino & Resort, Inc. Announces Atlantis Expansion Plans; Appoints New Chief Financial Officer
May 23, 2006 |
| Monarch Casino & Resort, Inc. announced that it plans to expand its Atlantis operation. The Company will outline plans for the next expansion phase of the Atlantis, which is expected to begin construction late in the fourth quarter of 2006 or in the first quarter of 2007. New space added to the casino level, the second and third floors and the basement level will total approximately 116,000 sq. ft. Once complete, the existing casino floor will be expanded by over 20,000 sq. ft., or approximately 40%. The plans include a new, approximately 4,000 sq. ft., modern race and sports book and an enlarged poker room. The Company also will be adding a New York-style delicatessen and restaurant. The second floor expansion will create additional ballroom and convention space of approximately 27,000 sq. ft., doubling its existing facilities. The existing spa and fitness center will be remodeled and expanded to create a 14,000 sq. ft. ultra-modern spa and fitness center facility. The Company also plans to add a pedestrian skywalk over Peckham Street, connecting the Reno-Sparks Convention Center to the Atlantis. The Company estimates that the expansion will cost approximately $50 million and expects to fund the expansion primarily with cash flow from operations. In addition, the Company further announced that Ronald Rowan has been named new Chief Financial Officer of the Company. He will take charge from Ben Farahi, Co-Chairman of the Board, Secretary, Treasurer and Chief Financial Officer. |
Monarch Casino & Resort, Inc. Ceases Efforts To Purchase Fitzgeralds Reno
January 10, 2006 |
| Monarch Casino & Resort, Inc. announced that the United States Bankruptcy Court denied its newly acquired subsidiary's requested release to extend the closing date on a contract to purchase Fitzgeralds Reno Hotel Casino. As a result, the Company does not expect to continue its efforts to acquire Fitzgeralds Reno. |
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