Monarch Casino Reports Ground Breaking On Atlantis Expansion
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of
1934
|
Date
of Report (Date of earliest event reported):
|
June
19, 2007
|
| |
|
Monarch
Casino & Resort, Inc.
|
|
(Exact
name of registrant as specified in its
charter)
|
|
Nevada
|
0-22088
|
88-0300760
|
| |
|
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
|
3800
South Virginia Street, Reno, Nevada
|
89502
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
| |
|
|
Registrant’s
telephone number, including area code:
|
(775)
335-4600
|
| |
|
Not
applicable.
|
|
(Former
name or former address, if changed since last
report.)
|
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
Item
8.01: Other Events
MONARCH
CASINO REPORTS GROUND BREAKING ON ATLANTIS EXPANSION
RENO,
NV
- June 19, 2007
-
Monarch
Casino & Resort, Inc. (NASDAQ: MCRI) (the "Company"), owner of the Atlantis
Casino Resort Spa (the “Atlantis”) in Reno, Nevada, today announced that it has
broken ground on the previously announced expansion of the Atlantis. Completion
is expected in the second quarter of 2008. New space will be added to the first
floor casino level, the second and third floors and the basement level totaling
approximately 116,000 square feet. The existing casino floor will be expanded
by
over 10,000 square feet, or approximately 20%. The first floor casino plans
include a redesigned, updated and expanded race and sports book of approximately
4,000 square feet and an enlarged poker room. The expansion will also include
a
New York-style deli restaurant. The second floor expansion will create
additional ballroom and convention space of approximately 27,000 square feet,
doubling the existing facilities. The spa and fitness center will be remodeled
and expanded to create an ultra-modern spa and fitness center facility. The
Company expects to fund the cost of the expansion entirely out of cash on-hand
and operating cash flow.
Monarch
Casino & Resort, Inc., through its wholly-owned subsidiary, owns and
operates the tropically-themed Atlantis Casino Resort Spa in Reno, Nevada.
The
Atlantis is the closest hotel-casino to, and is directly across the street
from,
the Reno-Sparks Convention Center. The Atlantis features a Sky Terrace, a unique
structure rising approximately 55 feet above street level and spanning 160
feet
across Virginia Street with no intermediate support pillars. The Sky Terrace
connects the Atlantis to a 16-acre parcel of land owned by the Company that
is
compliant with all casino zoning requirements and is suitable and available
for
future expansion and growth. Currently, the Company uses it as additional paved
parking for the Atlantis. The existing Atlantis site offers almost 1,000 guest
rooms in three contiguous high-rise hotel towers and a motor lodge. The Atlantis
features approximately 51,000 square feet of high-energy casino space with
38
table games and approximately 1,450 slot and video poker machines, a sports
book, Keno and a poker room, and offers a variety of dining choices in the
form
of nine high-quality food outlets.
This
press release contains forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934 which are subject to change,
including, but not limited to, comments relating to (i) future operating
performance and (ii) future expansion plans. The actual results may differ
materially from those described in any forward-looking statements. Additional
information concerning potential factors that could affect the Company’s
financial results is included in the Company’s Securities and Exchange
Commission filings, which are available on the Company's web site.
Contacts: Ron
Rowan, CFO at (775) 825-4700 or rrowan@monarchcasino.com
John
Farahi, CEO at (775) 825-4700 or JohnFarahi@monarchcasino.com
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
Monarch
Casino and Resort, Inc.
|
| |
|
|
Date
June 19, 2007
|
|
| |
/s/
Ronald Rowan______________
|
| |
Ronald
Rowan
Chief
Financial Officer and Treasurer
|