MONARCH CASINO & RESORT INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
MCRI$110.17+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 15. Exhibits, Financial Statement Schedules
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| | (a)(1). Financial Statements | |
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| | | Included in Part II, Item 8 of this report: |
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| | | a) Report of Independent Registered Public Accounting Firm (PCAOB ID: 42) |
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| | | b) Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022. |
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| | | c) Consolidated Balance Sheets at December 31, 2024 and 2023. |
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| | | d) Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2024, 2023 and 2022. |
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| | | e) Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 2022. |
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| | | f) Notes to Consolidated Financial Statements. |
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| | (a)(2). Financial Statements Schedules (in thousands)Schedule II – Valuation of Qualifying AccountsAll other schedules are omitted because they are not applicable, not required or the required information is shown in the financial statements and notes thereto. | |
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Schedule II. - VALUATION AND QUALIFYING ACCOUNTS
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| Year ended December 31, · Balance at beginningof year · Charged tocosts andexpenses (F1) · Deductions(F1) · Other · Balance at endof year | ||||||||||||||||
| 2022 | | | | | | | | | | | | | | | | |
| Allowance for doubtful accounts | | $182 | | $155 | | $(252) | | $— | | $85 | | |||||
| 2023 | | | | | | | | | | | | | | | | |
| Allowance for doubtful accounts | | $85 | | $194 | | $(181) | | $— | | $98 | | |||||
| 2024 | | | | | | | | | | | | | | | | |
| Allowance for doubtful accounts | | $98 | | $234 | | $(174) | | $— | | $158 | | |||||
(F1) The Company reviews receivables monthly and, accordingly, adjusts the allowance for doubtful accounts monthly. The Company records write-offs annually. The amount charged to costs and expenses reflects the bad debt expense recorded in the consolidated statements of income, while the amount recorded for deductions reflects the adjustment to actual allowance for doubtful accounts reserve at the end of the period.
(a)(3)Exhibits
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| Number | | Exhibit Description |
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| 2.01 | | Stock Purchase Agreement dated as of September 29, 2011 by and among Monarch Casino & Resort, Inc., Monarch Growth Inc. (a wholly owned subsidiary of Monarch Casino and Resort, Inc.), Riviera Operating Corporation, Riviera Holdings Corporation and Riviera Black Hawk, Inc. is incorporated herein by reference to Exhibit 2.1 to the Company’s Form 8-K/A (SEC File 0-22088) filed on October 4, 2011. |
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| 3.01 | | Articles of Incorporation of Monarch Casino & Resort, Inc., as filed with the Nevada Secretary of State on June 11, 1993; Certificate of Change Pursuant to NRS 78.209, as filed with the Nevada Secretary of State on March 17, 2005; Certificate of Correction, as filed with the Nevada Secretary of State on March 17, 2006, are incorporated by reference to Exhibits 3.1 and 3.2 to the Company’s Form 8-K (SEC FILE 0-22088) filed on March 23, 2006. |
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| 3.02 | | Bylaws of Monarch Casino & Resort, Inc., adopted June 14, 1993 and amended January 24, 1995, and March 27, 2009 and June 1, 2012 are incorporated herein by reference to Exhibit 3.02 to the Company’s Form 10-K (SEC FILE 0-22088) for the year ended December 31, 2012 filed on March 15, 2013. |
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| 4.01 | | Specimen Common Stock Certificate for the Common Stock of Monarch Casino & Resort, Inc. is incorporated herein by reference to Exhibit 4.01 to the Company’s Form 10-K (SEC File 0-022088) for the year ended December 31, 2018. |
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| 4.02 | | Description of Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 is incorporated herein by reference to Exhibit 4.02 to the Company’s Form 10-K (SEC File 0-22088) for the year ended December 31, 2019 filed on March 12, 2020. |
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| 10.01+ | | 2014 Equity Incentive Plan is incorporated herein by reference to Exhibit 10.1 to the Company’s Form 8-K (SEC File 0-22088) filed on May 23, 2014. |
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| 10.02+ | | 2014 Equity Incentive Plan, as amended, is incorporated by reference to Appendix A to the Company’s Proxy Statement (SEC File 0-22088) filed on April 22, 2019. |
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| 10.03+ | | Amendment No. 3 to Monarch Casino & Resort, Inc. 2014 Equity Incentive Plan is incorporated herein by reference to Appendix A to the Company’s Proxy Statement (SEC File 0-22088) filed on April 10, 2024. |
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| 10.04+ | | Trademark Agreement between Golden Road Motor Inn, Inc. and Atlantis Lodge, Inc., dated February 3, 1996 is incorporated herein by reference to Exhibit 10.23 to the Company’s Form 10-K (SEC File 0-22088) for the fiscal year ended December 31, 1995. |
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| 10.05 | | Lease Agreement and Option to Purchase dated as of January 29, 2004, between Golden Road Motor Inn, Inc. as Lessee and Biggest Little Investments, L.P. as Lessor is incorporated herein by reference to Exhibit 10.18 to the Company’s Form 10-K (SEC File 0-22088) filed on March 12, 2004. |
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| Number | | Exhibit Description |
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| 10.06 | | Lease Agreement dated as of August 28, 2015, between Golden Road Motor Inn, Inc. as Lessee and Biggest Little Investments, L.P. as Lessor is incorporated by reference to Exhibit 10.1 to the Company’s Form 8-K (SEC File 0-22088) filed September 3, 2015. |
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| 10.07 | | First Amendment to Lease Agreement and Option to Purchase dated as of August 25, 2015, between Golden Road Motor Inn, Inc. as Lessee and Biggest Little Investments, L.P. as Lessor is incorporated herein by reference to Exhibit 10.2 to the Company’s Form 8-K (SEC FILE 0-22088) filed September 3, 2015. |
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| 10.08 | | Fourth Amended and Restated Credit Agreement, dated as of September 3, 2020, among Monarch Casino & Resort, Inc., Golden Road Motor Inn, Inc. and Monarch Growth Inc., as Borrowers, the Lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent, L/C Issuer and Swing Line Lender is incorporated herein by reference to Exhibit 10.13 to the Company’s Form 8-K (SEC 0-22088) filed on September 4, 2020. |
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| 10.09 | | Amendment to Fourth Amended and Restated Credit Agreement, dated as of September 29, 2020, among Monarch Casino & Resort, Inc., Golden Road Motor Inn, Inc. and Monarch Growth Inc., as Borrowers, the Lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent, L/C Issuer and Swing Line Lender is incorporated herein by reference to Exhibit 10.2 to the Company’s Form 10-Q (SEC 0-22088) filed on November 6, 2020. |
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| 10.10 | | Amendment to Fourth Amended and Restated Credit Agreement, dated as of April 30, 2021, among Monarch Casino & Resort, Inc., Golden Road Motor Inn, Inc. and Monarch Growth Inc., as Borrowers, the Lenders named therein, and Wells Fargo Bank, National Association, as Administrative Agent, L/C Issuer and Swing Line Lender is incorporated herein by reference to Exhibit 10.3 to the Company’s Form 10-Q (SEC 0-22088) filed on May 7, 2021. |
| 10.11 | | Fifth Amended and Restated Credit Agreement, dated as of February 1, 2023, among Monarch Casino & Resort, Inc., Golden Road Motor Inn, Inc., Monarch Growth Inc., and Monarch Black Hawk, Inc. as Borrowers, the Lenders named herein, and Wells Fargo Bank, National Association, as Administrative Agent, L/C Issuer and Swing Line Lender is incorporated herein by reference to Exhibit 10.16 to the Company’s Form 10-K (SEC 0-02340) filed on February 28, 2023. |
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| 10.12* | | Sixth Amended and Restated Credit Agreement, dated as of December 31, 2024, among Monarch Casino & Resort, Inc., Golden Road Motor Inn, Inc., Monarch Growth Inc., and Monarch Black Hawk, Inc. as Borrowers, the Lenders named herein, and Wells Fargo Bank, National Association, as Administrative Agent, L/C Issuer and Swing Line Lender. |
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| 16.1 | | Letter from Ernst & Young LLP to the Securities and Exchange Commission, dated July 12, 2024 is incorporated herein by reference to Exhibit 16.1 to the Company Form 8-K filed on July 12, 2024. |
| 19.1* | | Monarch Casino & Resort, Inc. Insider Trading Policy |
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| 21.1 | | List of Subsidiaries of Monarch Casino & Resort, Inc. is incorporated herein by reference to Exhibit 21.1 to the Company’s Form 10-K (SEC File 0-22088) for the year ended December 31, 2019 filed on March 12, 2020. |
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| 23.1* | | Consent of Deloitte & Touche LLP. |
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| 23.2* | | Consent of Ernst & Young, LLP. |
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| 31.1* | | Certification of Principal Executive Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
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| 31.2* | | Certification of Principal Financial Officer Pursuant to Exchange Act Rule 13a-14(a)/15d-14(a) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
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| 32.1** | | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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| 32.2** | | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
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| 97.1 | | Monarch Casino & Resort, Inc. Executive Officer Clawback Policy is incorporated herein by reference to Exhibit 97.1 to the Company’s Form 10-K (SEC File 0-22088) for the year ended December 31, 2023 filed on February 28, 2024. |
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| 101.INS* | | Inline XBRL Instance |
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| 101.SCH* | | Inline XBRL Taxonomy Extension Schema |
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| 101.CAL* | | Inline XBRL Taxonomy Extension Calculation |
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| 101.DEF* | | Inline XBRL Taxonomy Extension Definition |
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| 101.LAB* | | Inline XBRL Taxonomy Extension Labels |
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| 101.PRE* | | Inline XBRL Taxonomy Extension Presentation |
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| 104* | | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |
- Filed herewith.
** Furnished herewith
- Denote management contracts or compensatory plans or arrangements.
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