Monarch Casino reports revenue fell

May 5, 2009 6:03 PM
Earnings by Ray Poirier | Monarch Casino & Resort Inc. (MCRI), operator of the Atlantis Casino Resort Spa in Reno, Nevada, reported that both its revenues and earnings fell in the first fiscal quarter that ended on March 31.

Revenues during the period were $32.6 million, nearly 5 percent lower than the previous year’s $34.3 million. Earnings were $1.9 million or $0.06 per share, just half the earnings reported a year ago.

John Farahi, co-chairman and CEO, called the period a "challenging economic environment." He said the company had successfully increased its market share throughout the quarter but could not overcome the erosion the marketplace experienced.

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