MCRI - 3 Ways This Lesser-Known Casino Stock Is Still Winning
With just two casinos to its name and a $1.25 billion valuation, Monarch Casino & Resort (NASDAQ: MCRI) isn't the southwest U.S.' biggest gambling operator by a long shot. It has, however, carved out a strong niche for itself at its two locations in Black Hawk, Colorado (near Denver) and Reno, Nevada, and is in the process of updating and expanding its services. Its third-quarter (Q3) 2021 earnings report, published on Oct. 25, show it's still hitting the jackpot when it comes to revenue and earnings growth. Here's what the details tell us about this small but vigorous casino company, and the American gambling market in general.
The Nevada Gaming Commission reports Las Vegas and Nevada gaming win is soaring , with six months of win over a billion dollars and August 2021's gambling figures topping August 2019's results by 22.3%. Finally released from COVID-19 lockdowns and with the Strip's flashy gambling establishments offering their lineup of slots, roulette, blackjack, baccarat, and other games of chance again, Americans are returning eagerly to Southwestern casino destinations.
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3 Ways This Lesser-Known Casino Stock Is Still Winning