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.
by RTT Staff Writer
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