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EXHIBIT 99.1 Monarch Casino & Resort Reports Record 2021 Second Quarter Financial Results RENO , Nev . , July 28 , 2021 ( GLOBE NEWSWIRE ) -- Monarch Casino & Resort , Inc. ( Nasdaq : MCRI ) ( “ Monarch ” or “ the Company " ) today reported record operating results for the second quarter ended June 30 , 2021 , as summarized below : ( $ in thousands , except per share data and percentages ) 2020 comparison Three Months Ended June 30 , 2021 2020 Increase 2021 Six Months Ended June 30 , 2020 Increase Net revenue $ 97,719 $ 15,156 544.8 % $ 172,679 $ 66,167 161.0 % Net income ( loss ) 18,149 ( 4,347 ) 517.5 % 26,303 ( 2,327 ) 1,230.3 % Adjusted EBITDA ( 1 ) $ 35,169 $ 490 7,077.3 % $ 58,000 $ 8,599 574.5 % Basic earnings ( losses ) per share $ 0.98 ( $ 0.24 ) 508.3 % $ 1.42 ( $ 0.13 ) 1,192.3 % Diluted earnings ( losses ) per share $ 0.93 ( $ 0.24 ) 487.5 % $ 1.36 ( $ 0.13 ) 1,146.2 % 2019 comparison Three Months Ended June 30 , Six Months Ended June 30 , 2021 2019 Increase Net revenue Net income $ 97,719 $ 62,761 55.7 % 2021 $ 172,679 2019 $ 121,501 Increase 42.1 % 18,149 9,279 95.6 % 26,303 16,294 61.4 % Adjusted EBITDA ( 1 ) $ 35,169 $ 16,519 112.9 % $ 58,000 $ 30,194 92.1 % Basic earnings per share Diluted earnings per share $ 0.98 $ 0.93 $ 0.52 $ 0.50 88.5 % 86.0 % $ 1.42 $ 0.91 56.1 % $ 1.36 $ 0.88 54.6 % ( 1 ) Definitions , disclosures and reconciliations of non - GAAP financial information are included later in the release . CEO Comment John Farahi , Co - Chairman and Chief Executive Officer of Monarch , commented : “ Our second quarter financial results highlight continued market share gains in both Black Hawk and Reno . The two markets are experiencing rapid population growth and healthy economic fundamentals that are propelling demand for our market leading properties . We also believe that the pent - up demand is impacting the revenue growth , along with the federal government's recurring stimulus . Labor market constraints continue to be our major challenge at both properties . “ Net revenue and Adjusted EBITDA in the second quarter of 2021 were $ 97.7 million and $ 35.2 million , respectively , reaching all - time highs for the second consecutive quarter , as each of our properties generated record net revenue and Adjusted EBITDA . We also achieved a record Adjusted EBITDA margin of 36.0 % . “ Black Hawk operations at our expanded casino resort continue to ramp up . Guest spend has been healthy due to a combination of expanded offerings and table games revenue positively impacted by the removal of the Colorado betting limits as of May 1st . On May 14th we opened our new poker room and guest response to - date has exceeded our expectations . The property as a whole is experiencing capacity constraints during peak demand . The transformation of the former buffet and the adjacent casino area of the legacy facility into a new specialty restaurant , sportsbook lounge and bar , and additional casino space is continuing . These additions will increase casino space by approximately 25 % and restaurant seating by approximately 35 % . We anticipate opening these converted areas by year - end . " At Atlantis , we continue to benefit from the strong Reno economy . Customer spend continues to increase and we have seen strong demand across all segments of our business . Reinvestment in the property continues . We are completely renovating the high - end suites which make up the top two floors of our tower . This capital investment will offer Atlantis ' premium guests more luxurious accommodations .