Monarch Casino & Resort, Inc. (MCRI: Quote) reported first-quarter net income of $1.6 million or $0.10 per share, up from $1.5 million or $0.09 in the same period last year.
Net revenues for the latest quarter rose 3.9 percent to $34.6 million from $33.3 million in the year-ago quarter.
The company also noted that it has entered into a definitive stock purchase agreement through its subsidiary, Monarch Growth Inc., to acquire Riviera Black Hawk, Inc., the owner of the Riviera Black Hawk Casino located in Black Hawk, Colorado.
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by RTT Staff Writer
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