Consumer Cyclical · NYSE/NASDAQ: MCRI
Monarch Casino & Resort, Inc.
Resorts & Casinos
Market Cap $2.18B
Verdict: High
Quality Scores
Business Compounding
82/100
Compounder Quality
91/100
Management Credibility
95/100
Governance
88/100
Cash Flow Quality
96/100
AI Summary
Monarch Casino & Resort (MCRI) has successfully transformed from a regional operator in Reno into a diversified gaming powerhouse through the acquisition and major expansion of the Monarch Black Hawk in Colorado. Over the last decade, the business has seen a massive scale-up in revenue from approximately $60M in 2018 to over $545M in 2025. This growth was driven by disciplined capital expenditure and the reopening of expanded facilities, resulting in a significant uplift in net income and operating cash flows. The company maintains a lean capital structure and has demonstrated high…
Top Opportunities
- Zero long-term debt position
- Exceptional 5-year revenue CAGR (>50%)
- Strong cash conversion (OCF > Net Income)
Top Risks
- Significant revenue drop risk during economic downturns
- Geographic concentration in Reno and Black Hawk
- Exposure to highly restrictive gaming regulations
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