Monarch Casino & Resort (MCRI) has one of the better stories in regional gaming. The company's Atlantis resort in Reno is a premier destination in a still-hot market. In Black Hawk (west of Denver), Monarch is serving another in-demand metro area, while the addition of hotel promises a boost to profits starting in the third quarter of 2019.
The combination makes MCRI an attractive takeover target in a space that has consolidated over the past few years. Modest balance sheet leverage, even pro forma for remaining construction spend, gives Monarch options if it