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EXHIBIT 99.1 Monarch Casino & Resort Reports Record 2021 Third Quarter Financial Results RENO , Nev . , Oct. 25 , 2021 ( GLOBE NEWSWIRE ) -- Monarch Casino & Resort , Inc. ( Nasdaq : MCRI ) ( “ Monarch ” or “ the Company " ) today reported record operating results for the third quarter ended September 30 , 2021 , as summarized below : ( $ in thousands , except per share data and percentages ) 2020 comparison 2021 2020 Net revenue Net income Adjusted EBITDA ( 1 ) $ 111,630 $ Three Months Ended September 30 , Increase 86.5 % $ 59,869 Nine Months Ended September 30 , 2021 284,309 $ 2020 126,036 Increase 125.6 % 22,314 10,745 107.7 % 48,617 8,418 477.5 % $ 40,279 $ 20,664 94.9 % $ 98,279 $ 29,263 235.8 % Basic earnings ( losses ) per share $ 1.20 $ Diluted earnings ( losses ) per share $ 1.15 $ 0.59 0.57 103.4 % $ 101.8 % $ 2.62 $ 2.51 $ 0.46 469.6 % 0.44 470.5 % 2019 comparison For the benefit of our stockholders , we also include the below comparison to 2019 to show " pre - COVID ” information : Three Months Ended September 30 , Nine Months Ended September 30 , Net revenue $ 2021 111,630 $ 2019 65,585 Increase 70.2 % $ 2021 284,309 $ 2019 Increase 187,086 52.0 % Net income 22,314 9,326 139.3 % 48,617 25,620 89.8 % Adjusted EBITDA ( 1 ) $ 40,279 $ 17,351 132.1 % $ 98,279 $ 47,545 106.7 % Basic earnings per share Diluted earnings per share SASA $ $ 1.20 $ 1.15 $ 0.52 0.50 130.8 % $ 130.0 % $ 2.62 $ 2.51 $ 1.42 84.5 % 1.37 83.2 % ( 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 : " Monarch again delivered record financial results as our third quarter benefited from the strong ongoing pandemic recovery , economic and population growth in Denver and Reno , and the notable impact of the removal of betting limits in Colorado . Our focus on operational excellence and market- leading amenities has enabled us to leverage these tailwinds and drive consistent growth . Labor shortages and wage pressure , as well as supply chain constraints and price inflation , remain headwinds . Atlantis operation in Reno was impacted by unhealthy air quality from the California fires and Nevada's decision to reinstate indoor mask mandates . " Net revenue and Adjusted EBITDA in the third quarter of 2021 were $ 111.6 million and $ 40.3 million , respectively , reaching all - time highs for the second consecutive quarter , as each of our properties generated record net revenue and Adjusted EBITDA . For the second quarter in a row , we also achieved a record Adjusted EBITDA margin of 36.1 % . " Our Black Hawk operations are ramping up , and we are working diligently to complete the legacy facility transformation by year - end . This addition will increase casino space by approximately 25 % and restaurant seating by approximately 35 % . In just a short time , the property has established itself as the leading casino resort in the greater Denver market , and we continue to grow market share . The May 2021 removal of the Colorado table game bet limit and the addition of Baccarat to our table game mix have resulted in an increase in new customer visitation , particularly high value players from across the Front Range . We have been able to manage the labor shortages and operate the hotel , and food and beverage outlets at full capacity on our busiest nights . " At Atlantis , we continue to see strong demand across all segments of our business and higher customer spend . That said , Atlantis ' results were negatively impacted by the California fires which lowered air quality in the Reno area to unhealthy levels for at least 26 days . We also saw additional negative impact to visitation beginning on July 30 , when mask mandates were again instituted across Nevada . Our ongoing investments in the property continue . We intend to commence a complete renovation of