Existing Facility Monarch Casino Black Hawk (1) 76 76 - Completed Existing Facility Upgrade (2 3) Exterior 2Q19 Interior 4Q19 Total Existing Facility.
2014-09 (ASC 606) and all the related amendments (new revenue standard) to all contracts which provides consistency in the reported financial information within the gaming industry.
Adjusted ebitda should not be construed as an alternative to operating income (as determined in accordance with US gaap as an indicator of the Company's operating performance, as an alternative to cash flows from operating activities (as determined in accordance with US gaap).New Revenue Recognition Standard On January 1, 2018, the Company adopted accounting standard update.Capital expenditures were funded from the Companys operating cash flows as well.2 million of borrowings against Monarchs Amended Credit Facility during the quarter.Since acquiring the former Riviera Black Hawk in 2012, we have been executing our vision for transforming the property into Black Hawks leading gaming and entertainment resort destination and remain confident in our ability to generate an attractive return on our ongoing investment.Contacts: David Farahi Chief Operating Officer 775/825-4700 or Joseph Jaffoni, Richard Land, James Leahy jcir 212/835-8500 or - financial tables follow - monarch casino resort, INC.(k) Change as a double bet roulette strategy result of the change of the casino floor bars menu prices and some retail outlets prices from discounted to retail price.(e) Change as a result of reclassification of the banquets service fees from food and beverage expense to food and beverage revenue.(i) Change as a result of reclassification of the earned and unused points during the period from casino expense to casino revenue.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.The Monarch Casino Black Hawk features approximately 30,000 square feet of casino space; approximately 740 slot machines; 14 table games; a 250-seat buffet-style restaurant; a snack bar and a new nine-story parking structure with approximately 1,350 spaces, plus additional existing valet parking bringing total parking.Monarch continues to believe that its operating cash flow and the 154.9 million available under its Amended Credit Facility will be sufficient to fund all remaining costs related to the completion of the Monarch Casino Black Hawk expansion, as well as our capital expenditures plans.
Our Monarch Casino Black Hawk general contractor has informed us that the new expanded casino, hotel tower, restaurants and retail areas will be completed in the third quarter of 2019 and that the upgraded amenities in the existing casino will be completed in the fourth.
As a percentage of net revenue, SG A expenses were.6 in both the 20 fourth quarter periods.
Atlantis Casino Resort and Spa generated record fourth quarter revenue and ebitda.The Company has provided reconciliation between the new revenue standard and the old revenue standard for the three and twelve months ended December 31, 2018 at the end of this release.(f) Change as a result of reclassification of the group rebates and commissions from hotel expense to hotel revenue.Fourth quarter financial performance at Monarch Casino Black Hawk was impacted by the ongoing construction and increased labor expenses, including management-level hiring in anticipation of the commencement of our expanded operations later this year.(Nasdaq: mcri) (Monarch or the Company) today reported operating results for the fourth quarter and full year ended December 31, 2018, as summarized below: Three Months Ended December 31, Twelve Months Ended December.Credit Facility and Liquidity Capital expenditures.2 million in the fourth quarter of 2018 include construction costs related to the Monarch Casino Black Hawk expansion and ongoing capital maintenance spending.(n) Change as a result of the elimination of the reclassification journal entry that reclassified the costs of complimentaries from hotel, food and beverage and other expense categories to casino expense.Welcome to Monarch Casino Resort, Inc.This investment, combined with our growth in Reno and our industry-best balance sheet, positions Monarch to drive long-term stockholder value.20, 2019 (globe newswire) - Monarch Casino Resort, Inc.