RENO, Nev. (AP) — RENO, Nev. (AP) — Monarch Casino & Resort Inc. (MCRI) on Tuesday reported first-quarter profit of $19.9 million.
On a per-share basis, the Reno, Nevada-based company said it had net income of $1.05.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The casino operator posted revenue of $125.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $123.3 million.
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