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” Monarch Casino & Resort (NASDAQ:MCRI) earned a round of bullish calls from Wall Street analysts Thursday, a day after the regional gaming company reported second-quarter results that were significantly better than expected. roulette casino bonus Construction on Monarch’s Colorado casino. It’s expected to be finished this year and analysts love the stock. free slots mountain fox (Image: Twitter)While Monarch’s two properties were closed for all of April and May, the company managed to lose just 24 cents a share on revenue of . online casino no deposit bonus free spins australia 16 million in the June quarter. Analysts expected a loss of 62 cents on a turnover of . 35 million.

The company operates just two casinos — the Atlantis in its home market of Reno, and the Black Hawk in the Colorado town of the same name. Atlantis reopened on June 4, followed by Black Hawk on June 17, prompting some analysts to laud Monarch’s second-quarter numbers, given that the company got less than a month’s worth of activity out of those venues. MCRI had its streak of 21 consecutive quarters of revenue growth snapped in 1Q20, but we expect the Black Hawk expansion and better than expected regional gaming trends will put the company back to positive year-over-year growth in 1Q21,” said Macquarie gaming and leisure analyst Chad Beywhat casinos are opennon in a note to clients today. soaring eagle casino megadeth Expansion at the Centennial State property is essential to Monarch’s efforts to bolster revenue and earnings. Brian Christopher Slots Patreon Dojn But construction was slowed earlier this year because of the coronavirus pandemic. river spirit casino in tulsa Betting on Black HawkEven before COVID-19, Monarch contended with construction delays in Colorado. But the company managed to increase its market share in a competitive Black Hawk market, according to Beynon.

“However, the company has managed to increase its market share nearly 50 bps over the last year, an impressive feat given the renovation disruptions and share loss we typically see during an expansion,” said the Macquarie analyst. poker winning hand generator Monarch is spending 0 million to enhance the Centennial State property or nearly half its equity market capitalization of almost 8 million. With sports betting forecast to boom in Colorado, analysts believe Monarch’s expansion in the state positions the company to capitalize on that trend. The company already black bear casino play and stay