Monarch Casino Reports 2011 First Quarter Results - EPS of $0.10

Monarch Casino & Resort, Inc. MCRI, owner of the Atlantis Casino Resort Spa (the "Atlantis") in Reno, Nevada, today announced results for the quarter ended March 31, 2011. The Company reported net revenue of $33.3 million, $1.1 million, or 3.2%, lower than the $34.4 million reported for the comparative quarter in 2010. The Company announced quarterly income from operations of $2.7 million which represents a decrease of 37.0% compared to the prior year's first quarter. Adjusted EBITDA(1) of $6.5 million was $1.5 million or 18.8% lower than the $8.0 million reported in the first quarter of the prior year. Revenue generated in the casino, hotel and other operating departments decreased by 3.9%, 3.4% and 4.1%, respectively, while revenue generated from the food and beverage department increased by 1.1%.