Monarch Casino & Resort Receives Interactive Gaming License
24 August 2012 - 4:41AM
Marketwired
Monarch Casino & Resort, Inc. (NASDAQ: MCRI) ("Monarch" or the
"Company"), owner of the Atlantis Casino Resort Spa (the
"Atlantis") in Reno, Nevada, and the Riviera Black Hawk Casino in
Black Hawk, Colorado, today announced that the Nevada State Gaming
Commission (the "Commission") approved the application of Monarch
Casino & Resort, Inc. and its wholly-owned subsidiary, Monarch
Interactive, Inc. (collectively, "Monarch") for a license to
conduct intrastate interactive gaming in the State of Nevada.
Before launching the interactive gaming business, Monarch must
enter into contracts with licensed interactive gaming service
providers, which contracts have not yet been consummated. Nevada
law currently limits permissible interactive gaming to poker.
David Farahi, Monarch Casino & Resort, Inc. Chief Operating
Officer, Comment: Monarch Casino & Resort, Inc.'s Chief
Operating Officer David Farahi commented: "We are very pleased to
have received one of the first two Nevada Interactive Gaming
Operator licenses issued. We are evaluating several interactive
poker software providers and intend to partner with the provider
that can offer the best quality product to our guests.
"The Atlantis Casino Resort Spa is known as one of northern
Nevada's premier resorts and recently was awarded AAA's prestigious
Four Diamond rating. We believe that the potential for synergy
between our land based and interactive gaming offerings is
significant."
About Monarch: Monarch Casino & Resort, Inc., through its
subsidiaries, owns and operates the Atlantis Casino Resort Spa, a
hotel/casino facility in Reno, Nevada and the Riviera Black Hawk
casino in Black Hawk, Colorado. Black Hawk is approximately 40
miles west of Denver.
The Atlantis features approximately 61,000 square feet of casino
space; 824 guest rooms; eight food outlets; two espresso and pastry
bars; a 30,000-square-foot health spa and salon with an enclosed
year-round pool; two retail outlets offering clothing and
traditional gift shop merchandise; an 8,000-square-foot family
entertainment center; and approximately 52,000 square feet of
banquet, convention and meeting room space. The casino features
approximately 1,450 slot and video poker machines; approximately 38
table games, including blackjack, craps, roulette, and others; a
race and sports book; a 24-hour live keno lounge and a poker room.
The Company and its predecessors have operated a facility on the
Atlantis site since 1972.
The Riviera Black Hawk Casino, which opened in 2000, is the
first casino encountered by visitors arriving from Denver on
Highway 119 and features approximately 32,000 square feet of casino
space, 750 slot machines, 10 table games, a 250-seat buffet-style
restaurant, a snack bar and a parking structure with approximately
500 spaces. Monarch owns a 1.5-acre land parcel contiguous to the
Riviera Black Hawk Casino which is zoned for gaming and can be
utilized for future expansion.
Forward-Looking Information: This press release contains
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934 which are subject to change,
including, but not limited to, comments relating to (i) future
operating performance; (ii) economic and market conditions, (iii)
plans, objectives and expectations regarding the Acquisition, and
(vi) integration of the Acquisition. Actual results and future
events and conditions may differ materially from those described in
any forward-looking statements. Additional information concerning
potential factors that could affect the Company's financial results
is included in the Company's Securities and Exchange Commission
filings, which are available on the Company's web site at
www.monarchcasino.com.
For additional information visit Monarch's website at
MonarchCasino.com
Contacts: Ron Rowan CFO of Monarch (775) 825-4700 Email Contact
David Farahi COO of Monarch 720.406.3721 Email Contact John Farahi
CEO of Monarch (775) 825-4700 Email Contact
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