Phase I of Monarch Casino Resort Spa Black Hawk Expansion to Debut November 19

BLACK HAWK, Colo., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (NASDAQ: MCRI) (“Monarch” or “the Company”) announced today that it has received a Temporary Certificate of Occupancy (TCO) from the City of Black Hawk for floors 1-13 of its new 23-story hotel tower. The first phase of the expansion will open to the public on Thursday, November 19, 2020 at 9:00 a.m. MT.

The Phase I opening consists of an expanded casino, three restaurants, approximately 250 luxury hotel rooms and suites, convention space and other amenities.

The Company expects to open the balance of the expansion project (floors 14-23) later this year. The balance will include additional rooms and suites (bringing the total to 516), a concierge lounge, and a world-class spa and pool facility on the tower’s top floor.

On November 3, 2020 Colorado voters approved Amendment 77 to the Colorado Constitution, which allows the city of Black Hawk to remove or increase the $100 single bet limit and approve new games such as Baccarat and Pai-Gow Tiles. Concurrently, citizens of Black Hawk voted favorably to give authority to the City Council of Black Hawk to remove or increase the bet limit and approve new games. These new regulations could take effect as early as May 1, 2021.

John Farahi, Co-Chairman and Chief Executive Officer of Monarch, commented: “We are confident that our product will meet the expectations of the market’s upper segment.”

About Monarch Casino & Resort, Inc.
Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information on Monarch, visit the Company’s website at www.monarchcasino.com.

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.