MONARCH CASINO & RESORT INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
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Item 2. Properties
As of December 31, 2023, our properties consist of:
Reno, Nevada Properties:
(a)An approximately 13-acre site on which the Atlantis is situated, including the hotel towers, casino, restaurant facilities and surrounding parking.
(b)An approximately 16-acre site, adjacent to the Atlantis and connected to the Atlantis by the Sky Terrace, which includes approximately 11 acres of paved parking used for customer, employee and valet parking. The remainder of the site is undeveloped. This site is compliant with all casino zoning requirements and is suitable and available for future expansion of the Atlantis facilities, parking, or complementary resort casino and/or entertainment amenities. We have not determined the ultimate use of this site.
(c)An approximately 2.6-acre site across Virginia Street from the Atlantis which is utilized as administrative offices (“the Administrative Site”) for Atlantis staff.
(d)An approximately 5.3-acre site with a 14,376 square foot building across Coliseum Way from the Atlantis. The building is currently rented and the land is unused.
(e)Approximate 2.3-acre, 0.45-acre and 0.23-acre sites adjacent to the Administrative Site which are currently unused.
(f)Leased land consisting of approximately 37,400 square-feet adjacent to the Atlantis serving as a driveway entrance to the Atlantis. For a further description of the lease terms, see Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements, Notes 5 and 12.
(g)Leased land consisting of approximately 4.2 acres adjacent to the Atlantis serving as a surface parking lot for the Atlantis. For a further description of the lease terms, see Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements, Notes 5 and 12.
Black Hawk, Colorado Properties:
| (a) | An approximate 3.4-acre site on which the Monarch Black Hawk is situated including the hotel tower, casino, conference facilities, resort facilities, restaurant facilities and surrounding parking. |
| (b) | An approximate 9.0-acre parcel of land with an industrial building, located between Denver and Monarch Casino Resort Spa Black Hawk, in Clear Creek County, Colorado, which is used as a warehouse. |
Except for the 37,400 square feet and 4.2-acre parcels of real property adjacent to the Atlantis which are referenced above, we own all of our properties.
As of December 31, 2023, our Amended Credit Facility is secured by liens on substantially all of our real and personal property.
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