Monarch Casino & Resort, Inc
(NASDAQ:MCRI)

Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. As of February 24, 2021, the company's Atlantis Casino Resor...

Website: http://www.monarchcasino.com

Founded: 1972

Full Time Employees: 2,300

Sector: Consumer Cyclical

Industry: Resorts & Casinos

Casinos Consumer Cyclical

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Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-11-08	2006-09-30	2006-06-30

revenues
casino	79,746,000	81,205,000	80,130,000	79,589,000	72,895,000	77,093,000	76,307,000	70,977,000	69,436,000	72,714,000	73,818,000	68,855,000	66,905,000	67,151,000	76,909,000	63,865,000	62,831,000	64,898,000	63,931,000	57,673,000	46,911,000	37,283,000	37,292,000	9,910,000	27,065,000	32,029,000	34,169,000	32,836,000	28,976,000	31,253,000	33,504,000	31,142,000	29,945,000	43,378,000	48,574,000	45,323,000	41,310,000	43,248,000	43,882,000	41,999,000	39,732,000	39,459,000	41,394,000	38,551,000	37,439,000	35,324,000	37,512,000	36,264,000	36,034,000	35,091,510	38,037,571	39,792,123	38,703,346	36,117,315	38,448,040	34,876,560	25,171,556	23,930,400	24,147,082	26,076,953	23,212,686	24,598,175	26,039,912	25,020,899	24,154,140	23,174,218	24,385,970	24,146,246	22,804,499	23,862,676	27,612,822	25,672,907	23,755,950	25,746,126	29,936,988	29,277,718	25,298,272	25,711,186	27,716,814	27,716,814	25,780,512
food and beverage	31,701,000	34,147,000	33,842,000	32,191,000	30,022,000	32,581,000	32,888,000	31,842,000	30,163,000	32,816,000	32,970,000	31,525,000	29,317,000	31,338,000	31,312,000	28,459,000	26,047,000	26,787,000	25,971,000	22,116,000	16,206,000	12,671,000	12,835,000	2,893,000	14,763,000	18,552,000	18,341,000	17,993,000	17,692,000	18,261,000	18,472,000	17,541,000	16,938,000	16,022,000	16,342,000	15,562,000	15,490,000	15,688,000	15,621,000	15,546,000	13,414,000	14,697,000	14,725,000	13,975,000	13,103,000	13,271,000	13,573,000	13,205,000	12,265,000	12,465,343	12,791,309	12,494,373	12,221,987	11,875,467	12,666,803	12,110,284	10,585,794	10,835,969	11,071,950	10,933,018	10,092,738	10,030,398	10,595,591	10,369,922	9,983,603	9,206,419	9,546,449	9,826,213	9,593,068	9,574,310	10,582,809	9,547,395	9,761,220	10,280,029	11,011,808	10,568,173	10,504,215	10,267,553	10,889,609	10,889,609	10,135,342
hotel	18,956,000	17,864,000	22,494,000	19,110,000	16,708,000	18,210,000	21,642,000	19,731,000	16,774,000	16,813,000	20,608,000	18,094,000	15,471,000	16,905,000	20,785,000	18,297,000	15,192,000	14,450,000	17,336,000	13,953,000	8,635,000	5,631,000	6,613,000	1,472,000	6,417,000	8,030,000	9,878,000	8,809,000	8,505,000	6,870,000	9,167,000	8,097,000	6,363,000	5,580,000	7,316,000	6,248,000	5,640,000	5,336,000	6,901,000	6,034,000	5,103,000	5,418,000	6,646,000	5,828,000	4,737,000	4,719,000	6,339,000	6,031,000	4,644,000	4,396,632	6,603,181	6,368,349	5,311,228	4,351,560	6,174,337	5,305,178	4,368,442	4,611,374	6,332,818	5,490,621	5,004,041	4,295,822	6,361,763	5,931,465	5,178,067	4,807,503	6,314,048	5,884,634	5,379,742	4,593,528	6,301,547	5,545,006	5,830,695	6,028,171	8,002,564	7,027,156	6,827,967	5,831,944	8,101,167	8,101,167	6,445,709
other	6,147,000	6,787,000	6,348,000	6,024,000	5,769,000	6,629,000	7,036,000	5,593,000	5,284,000	5,843,000	5,569,000	5,209,000	4,951,000	5,142,000	4,721,000	4,668,000	4,248,000	4,933,000	4,392,000	3,977,000	3,208,000	2,792,000	3,129,000	881,000	2,766,000	3,469,000	3,197,000	3,123,000	3,567,000	3,395,000	3,216,000	3,129,000	3,022,000	3,428,000	3,191,000	3,070,000	2,778,000	3,250,000	2,891,000	2,828,000	2,671,000	3,207,000	2,723,000	2,668,000	2,600,000	2,907,000	2,553,000	2,455,000	2,479,000	2,588,578	2,446,565	2,314,753	2,329,980	2,305,198	2,306,289	2,245,285	2,137,356	2,197,984	1,997,541	1,930,784	1,899,262	1,997,574	2,075,795	1,855,462	1,979,694	1,103,778	1,005,075	1,140,138	1,133,450	1,352,091	1,181,343	1,185,503	1,232,069	1,162,564	1,229,521	1,285,828	1,188,623	1,039,246	1,408,494	1,408,494	1,340,524
net revenues	136,550,000	140,003,000	142,814,000	136,914,000	125,394,000	134,513,000	137,873,000	128,143,000	121,657,000	128,186,000	132,965,000	123,683,000	116,644,000	120,536,000	133,727,000	115,289,000	108,318,000	111,068,000	111,630,000	97,719,000	74,960,000	58,377,000	59,869,000	15,156,000	51,011,000	62,080,000	65,585,000	62,761,000	58,740,000	59,779,000	64,359,000	59,909,000	56,268,000	56,056,000	63,027,000	58,229,000	53,414,000	55,596,000	57,109,000	54,578,000	49,749,000	51,485,000	53,576,000	50,013,000	47,171,000	45,859,000	48,597,000	47,803,000	45,508,000	44,504,140	48,989,479	49,651,094	47,644,027	43,648,567	47,861,711	45,841,782	34,630,092	34,012,130	36,174,386	37,159,873	33,285,816	33,842,481	37,680,098	36,155,896	34,351,552	31,851,514	34,845,800	34,455,358	32,579,184	32,965,112	38,787,199	35,343,765	34,273,393	36,890,164	43,623,296	41,561,320					37,658,751
operating expenses
selling, general and administrative	27,754,000	27,892,000	27,508,000	26,786,000	27,190,000	27,837,000	27,177,000	26,198,000	27,074,000	28,657,000	27,091,000	24,955,000	25,116,000	24,671,000	25,651,000	23,097,000	24,183,000	22,205,000	21,690,000	20,607,000	19,925,000	18,475,000	15,856,000	8,870,000	17,194,000	18,469,000	17,885,000	16,506,000	16,452,000	17,672,000	16,793,000	16,152,000	15,185,000	16,602,000	16,398,000	15,080,000	14,639,000	15,604,000	14,439,000	14,536,000	13,151,000	14,534,000	14,349,000	13,317,000	12,579,000	13,132,000	13,444,000	13,180,000	13,231,000	13,999,680	13,518,287	12,643,311	13,978,711	14,860,998	14,269,691	15,362,510	11,759,972	12,820,362	12,109,242	11,274,007	10,907,228	12,123,464	12,785,043	11,913,997	11,058,601	11,731,999	12,203,807	12,309,904	11,619,722	12,446,504	12,732,367	12,877,513	13,104,100	12,912,190	12,731,275	12,792,008	11,530,773				12,561,359
depreciation and amortization	10,467,000	13,180,000	14,056,000	13,571,000	13,215,000	13,365,000	13,103,000	12,404,000	12,487,000	12,142,000	12,197,000	11,618,000	11,337,000	11,188,000	11,183,000	10,546,000	10,516,000	10,120,000	9,434,000	9,360,000	9,514,000	5,780,000	3,891,000	3,833,000	3,820,000	3,891,000	3,686,000	3,695,000	3,603,000	3,536,000	3,651,000	3,738,000	3,692,000	3,735,000	3,722,000	3,769,000	3,906,000	3,701,000	3,644,000	3,790,000	3,700,000	3,776,000	3,918,000	4,108,000	4,131,000	4,320,000	4,180,000	4,630,000	4,694,000	4,065,518	3,549,106	4,379,873	4,643,435	4,368,313	4,647,002	4,260,205	3,375,084	3,234,539	3,314,598	3,436,015	3,394,386	3,361,412	3,394,258	3,214,390	3,311,336	3,190,468	3,034,674	3,094,951	3,180,955	3,502,955	2,353,562	1,893,237	2,006,557	2,015,286	1,982,184	2,064,970	2,075,446	2,128,543	2,139,592	2,139,592	2,144,481
other operating items	1,585,000	7,204,000	541,000	944,000	471,000	27,737,000	225,000	233,000	473,000	2,898,000	2,976,000	-474,000	510,000	671,000	2,898,000	2,229,000	1,317,000	2,130,000	1,233,000	812,000	754,000	1,801,000	2,448,000	1,157,000	1,305,000
total operating expenses	101,604,000	110,898,000	104,641,000	102,015,000	100,076,000	130,610,000	102,596,000	98,630,000	97,847,000	102,803,000	101,063,000	93,975,000	93,485,000	92,460,000	97,371,000	89,628,000	86,969,000	85,264,000	82,590,000	73,969,000	63,677,000	53,164,000	46,441,000	20,637,000	48,900,000	54,382,000	54,062,000	51,128,000	50,019,000	50,718,000	50,493,000	48,567,000	47,711,000	47,919,000	49,777,000	46,676,000	45,688,000	45,404,000	44,857,000	45,633,000	42,590,000	43,498,000	43,527,000	41,965,000	40,700,000	41,105,000	41,931,000	42,335,000	40,177,000	40,341,353	40,050,409	39,482,625	40,459,113	40,779,879	40,995,150	42,457,349	31,777,814	32,718,561	36,022,941	31,491,091	30,629,377	32,894,203	33,273,133	31,693,659	30,135,982	31,528,554	31,260,726	31,154,624	30,645,657	32,006,492	32,618,470	30,924,665	30,998,549	31,260,423	31,875,750	31,481,233					30,334,617
income from operations	34,946,000	29,105,000	38,173,000	34,899,000	25,318,000	3,903,000	35,277,000	29,513,000	23,810,000	25,383,000	31,902,000	29,708,000	23,159,000	28,076,000	36,356,000	25,661,000	21,349,000	25,804,000	29,040,000	23,750,000	11,283,000	5,213,000	13,428,000	-5,481,000	2,111,000	7,698,000	11,523,000	11,633,000	8,721,000	9,061,000	13,866,000	11,342,000	8,557,000	8,137,000	13,250,000	11,553,000	7,726,000	10,192,000	12,252,000	8,945,000	7,159,000	7,987,000	10,049,000	8,048,000	6,471,000	4,754,000	6,666,000	5,468,000	5,331,000	4,162,787	8,939,070	10,168,469	7,184,914	2,868,688	6,866,561	3,384,433	2,852,278	1,293,569	151,445	5,668,782	2,656,439	948,278	4,406,965	4,462,237	4,215,570	322,960	3,585,074	3,300,734	1,933,527	958,620	6,168,729	4,419,100	3,274,844	5,629,741	11,747,546	10,080,087					7,324,134
yoy	38.03%	645.71%	8.21%	18.25%	6.33%	-84.62%	10.58%	-0.66%	2.81%	-9.59%	-12.25%	15.77%	8.48%	8.80%	25.19%	8.05%	89.21%	394.99%	116.26%	-533.32%	434.49%	-32.28%	16.53%	-147.12%	-75.79%	-15.04%	-16.90%	2.57%	1.92%	11.36%	4.65%	-1.83%	10.76%	-20.16%	8.15%	29.16%	7.92%	27.61%	21.92%	11.15%	10.63%	68.01%	50.75%	47.18%	21.38%	14.20%	-25.43%	-46.23%	-25.80%	45.11%	30.18%	200.45%	151.90%	121.77%	4434.03%	-40.30%	7.37%	36.41%	-96.56%	27.04%	-36.99%	193.62%	22.93%	35.19%	118.02%	-66.31%	-41.88%	-25.31%	-40.96%	-82.97%	-47.49%	-56.16%
qoq	20.07%	-23.76%	9.38%	37.84%	548.68%	-88.94%	19.53%	23.95%	-6.20%	-20.43%	7.39%	28.28%	-17.51%	-22.77%	41.68%	20.20%	-17.26%	-11.14%	22.27%	110.49%	116.44%	-61.18%	-344.99%	-359.64%	-72.58%	-33.19%	-0.95%	33.39%	-3.75%	-34.65%	22.25%	32.55%	5.16%	-38.59%	14.69%	49.53%	-24.20%	-16.81%	36.97%	24.95%	-10.37%	-20.52%	24.86%	24.37%	36.12%	-28.68%	21.91%	2.57%	28.06%	-53.43%	-12.09%	41.53%	150.46%	-58.22%	102.89%	18.66%	120.50%	754.15%	-97.33%	113.40%	180.13%	-78.48%	-1.24%	5.85%	1205.29%	-90.99%	8.61%	70.71%	101.70%	-84.46%	39.59%	34.94%	-41.83%	-52.08%	16.54%
other income																																																														4,000		16,000
interest income	598,000	654,000	575,000						7,000																																																									16,697	36,205	36,341	35,418	36,943	36,107	46,238	251,344	542,567	568,462	473,537	343,884
income before income taxes	35,544,000	29,759,000	38,748,000	35,291,000	25,634,000	4,148,000	35,132,000	29,302,000	23,817,000	25,494,000	31,533,000	28,928,000	22,572,000	27,876,000	35,486,000	24,961,000	20,699,000	25,084,000	28,149,000	22,474,000	9,664,000	4,940,000	13,428,000	-5,481,000	2,111,000	7,699,000	11,523,000	11,633,000	8,721,000	9,061,000	13,811,000	11,300,000	8,477,000	7,809,000	13,089,000	11,347,000	7,454,000	9,851,000	12,122,000	8,885,000	7,074,000	7,845,000	9,912,000	7,867,000	6,252,000	4,466,000	6,411,000	5,194,000	5,044,000	3,795,990	8,527,827	9,652,238	6,618,818	2,241,363	6,386,789	2,807,433	2,523,617	1,022,766		5,474,036	2,367,917	632,716	4,072,937	4,112,386	3,757,146	-156,003	3,134,358	2,766,068	1,418,735	539,860	6,121,855	4,334,003	3,522,031	6,172,308	12,316,008	10,550,450					7,324,134
provision for income taxes	-7,952,000	-6,815,000	-7,172,000	-8,283,000	-5,770,000	63,000	-7,531,000	-6,620,000	-5,542,000	-7,292,000	-7,370,000	-6,515,000	-4,902,000	-5,443,000	-7,993,000	-5,526,000	-2,581,000	-2,917,500	-5,835,000		-1,510,000	-410,000	-2,683,000		-91,000	-1,503,000	-2,197,000	-2,354,000	-1,706,000	-1,802,000	-2,952,000	-2,061,000	-1,736,000	-3,412,000	-4,059,000	-4,108,000	-2,582,000	-3,381,000	-4,288,000																													-968,150	-496,575	-1,211,815	-2,096,160	-1,531,100	-1,220,000					2,783,590	3,969,098		2,501,902
net income	27,592,000	22,944,000	31,576,000	27,008,000	19,864,000	4,211,000	27,601,000	22,682,000	18,275,000	18,202,000	24,163,000	22,413,000	17,670,000	22,433,000	27,493,000	19,435,000	18,118,000	19,871,000	22,314,000	18,149,000	8,154,000	15,260,000	10,745,000	-4,347,000	2,020,000	6,196,000	9,326,000	9,279,000	7,015,000	7,259,000	10,859,000	9,239,000	6,741,000	4,397,000	9,030,000	7,239,000	4,872,000	6,470,000	7,834,000	5,695,000	4,575,000	5,123,000	6,394,000	5,099,000	4,043,000	3,811,000	4,074,000	3,024,000	3,276,000	2,059,073	5,519,509	6,120,244	4,262,002	1,339,643	4,137,081	1,792,758	1,641,367	567,293	11,279	3,558,136	1,539,146	467,847	2,665,937	2,660,331	2,442,146	83,543	2,037,858	1,797,918	922,160	410,339	4,025,695	2,802,903	2,302,031	4,048,648	8,036,008	6,900,450					4,822,232
yoy	38.90%	444.86%	14.40%	19.07%	8.69%	-76.87%	14.23%	1.20%	3.42%	-18.86%	-12.11%	15.32%	-2.47%	12.89%	23.21%	7.09%	122.20%	30.22%	107.67%	-517.51%	303.66%	146.29%	15.22%	-146.85%	-71.20%	-14.64%	-14.12%	0.43%	4.06%	65.09%	20.25%	27.63%	38.36%	-32.04%	15.27%	27.11%	6.49%	26.29%	22.52%	11.69%	13.16%	34.43%	56.95%	68.62%	23.41%	85.08%	-26.19%	-50.59%	-23.13%	53.70%	33.42%	241.39%	159.66%	136.15%	36579.50%	-49.62%	6.64%	21.26%	-99.58%	33.75%	-36.98%	460.01%	30.82%	47.97%	164.83%	-79.64%	-49.38%	-35.86%	-59.94%	-89.86%	-49.90%	-59.38%
qoq	20.26%	-27.34%	16.91%	35.96%	371.72%	-84.74%	21.69%	24.11%	0.40%	-24.67%	7.81%	26.84%	-21.23%	-18.40%	41.46%	7.27%	-8.82%	-10.95%	22.95%	122.58%	-46.57%	42.02%	-347.18%	-315.20%	-67.40%	-33.56%	0.51%	32.27%	-3.36%	-33.15%	17.53%	37.06%	53.31%	-51.31%	24.74%	48.58%	-24.70%	-17.41%	37.56%	24.48%	-10.70%	-19.88%	25.40%	26.12%	6.09%	-6.46%	34.72%	-7.69%	59.10%	-62.69%	-9.82%	43.60%	218.14%	-67.62%	130.77%	9.22%	189.33%	4929.64%	-99.68%	131.18%	228.98%	-82.45%	0.21%	8.93%	2823.22%	-95.90%	13.35%	94.97%	124.73%	-89.81%	43.63%	21.76%	-43.14%	-49.62%	16.46%
earnings per share of common stock
basic	1.55	1.28	1.73	1.47	1.08	0.24	1.5	1.21	0.95	0.94	1.26	1.16	0.92	1.17	1.45	1.02	0.96	1.06	1.2	0.98	0.44	0.84	0.59	-0.24	0.11	0.35	0.52	0.52	0.39	0.4	0.61	0.52	0.38	0.25	0.51	0.41	0.28	0.37	0.45	0.33	0.27	0.3	0.38	0.3	0.24	0.23	0.24	0.18	0.2	0.12	0.34	0.38	0.26	0.08	0.26	0.11	0.1	0.03		0.22	0.1	0.03	0.17	0.16	0.15	0.075	0.13	0.11	0.06	0.133	0.25	0.16	0.13	0.21	0.42	0.36					0.25
diluted	1.52	1.25	1.69	1.44	1.05	0.24	1.47	1.19	0.93	0.93	1.23	1.14	0.9	1.14	1.41	0.99	0.92	1.02	1.15	0.93	0.42	0.81	0.57	-0.24	0.11	0.33	0.5	0.5	0.38	0.39	0.58	0.5	0.36	0.23	0.49	0.4	0.27	0.36	0.45	0.32	0.26	0.29	0.37	0.29	0.24	0.22	0.24	0.18	0.19	0.11	0.32	0.37	0.26	0.08	0.25	0.11	0.1	0.04		0.22	0.09	0.03	0.17	0.16	0.15	0.073	0.13	0.11	0.06	0.133	0.25	0.16	0.12	0.21	0.41	0.36					0.25
weighted-average number of common shares and potential common shares outstanding
basic	17,843	18,282	18,297	18,383	18,451	18,611	18,404	18,731	19,284	19,244	19,252	19,243	19,215	18,996	18,999	18,987	18,868	18,617	18,640	18,595	18,481	18,218	18,218	18,181	18,158	18,025	18,056	17,997	17,937	17,846	17,886	17,821	17,770	17,585	17,616	17,527	17,477	17,305	17,338	17,259	17,211	16,948	16,979	16,894	16,821	16,734	16,800	16,788	16,536	16,301,824	16,388,835	16,191,852	16,147,324	16,140,078	16,141,492	16,139,074	16,138,158	16,138,158	16,138,158	16,138,158	16,138,158	16,131,321	16,132,531	16,129,053	16,125,388					16,957,692
diluted	18,201	18,660	18,736	18,723	18,829	18,971	18,746	19,090	19,659	19,618	19,608	19,618	19,654	19,578	19,503	19,582	19,592	19,427	19,423	19,465	19,283	18,877	18,861	18,181	18,874	18,684	18,709	18,666	18,619	18,574	18,631	18,569	18,710	18,367	18,398	18,208	18,021	17,664	17,720	17,579	17,540	17,335	17,343	17,302	17,198	17,107	17,016	17,104	17,259	16,943,925	17,180,187	16,702,137	16,275,208	16,250,088	16,234,158	16,249,450	16,274,355	16,231,325	16,234,443	16,223,488	16,222,989	16,205,606	16,209,724	16,220,865	16,151,408					17,017,859
interest expense				392,000	316,000	245,000	-145,000	-211,000		111,000	-369,000	-780,000	-587,000																																																							-571,007	-550,210	-20,745.25	-82,981	-131,335	-4,157				-149,100	-22,877	-15,401	-15,401
other expense
interest expense, net of amounts capitalized														-200,000	-870,000	-700,000	-650,000	-720,000	-891,000	-1,276,000	-1,619,000										-55,000	-42,000	-80,000	-328,000	-161,000	-206,000	-272,000	-341,000	-130,000
benefit for income taxes																				-4,325,000				1,134,000																																			20,071
pre-opening expenses																										394,250	953,000	188,000	436,000
construction litigation expenses																										40,500	162,000
loss on disposition of assets																															8,000	4,000				-14,000	18,000	9,000	5,000	607,000	56,000					94,000		249,000
other expenses
total other expense																															-55,000	-42,000	-80,000	-328,000	-161,000	-206,000	-272,000	-341,000	-130,000
gross revenues																														59,779,000	64,359,000	59,909,000	56,268,000	68,408,000	75,423,000	70,203,000	65,218,000	67,522,000	69,295,000	66,407,000	60,920,000	62,781,000	65,488,000	61,022,000	57,879,000	56,221,000	59,977,000	57,955,000	55,422,000	54,542,063	59,878,626	60,969,598	58,566,541	54,649,540	59,595,469	54,537,307	42,263,148	41,575,727	43,549,391	44,431,376	40,208,727	40,921,969	45,073,061	43,177,748	41,295,504	38,291,918	41,251,542	40,997,231	38,910,759	39,382,605	45,678,521	41,950,811	40,579,934	43,216,890	50,180,881	48,158,875					43,702,087
less promotional allowances																																		-12,352,000	-12,396,000	-11,974,000	-11,804,000	-11,926,000	-12,186,000																													-6,541,873	-6,331,575	-4,951,227.25	-6,891,322	-6,607,046	-6,306,541				-6,037,486	-6,047,994	-6,213,477	-6,213,477	-6,043,336
colorado ballot initiative costs																																														19,000	841,000	1,004,000
gain on disposition of assets
total other expenses
acquisition expenses
acquisition expense																																																						-1	454,701	1,625,930
adventure inn demolition																																																										879,787	3,519,148
other comprehensive income
comprehensive income																																																									1,641,367
total other income																																																																				-534,666	-514,792	62,677	-46,874	-85,097	247,187	542,567	568,462	470,363
weighted average number of common shares and potential common shares outstanding
basic																																																																		16,123,027	16,122,593	16,122,048	16,122,048		16,122,048	17,189,200	18,415,836		19,079,062	19,091,756					18,950,687
diluted																																																																		16,159,415	16,180,168	16,151,412	16,148,037		16,141,830	17,253,109	18,545,964		19,366,043	19,366,442					19,282,501
gaming development costs																																																																													30	5,753	27,892	27,892
earnings per share of common stock
weighted average number of common shares and potential common shares outstanding
selling, general, and administrative																																																																														8,764,032	11,653,283	11,653,283
weighted average number of common
shares and potential common
shares outstanding
benefit from income taxes																																																																																3,969,098
weighted-average number of common
gaming development expense																																																																																	29,067

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-11-08	2006-09-30	2006-06-30

assets
current assets
cash and cash equivalents	120,125,000	96,468,000	107,639,000	71,590,000	75,090,000	58,760,000	39,380,000	33,508,000	39,484,000	43,361,000	33,918,000	35,100,000	34,430,000	38,779,000	33,139,000	30,580,000	33,149,000	33,526,000	33,036,000	28,296,000	24,143,000	28,310,000	30,526,000	38,320,000	39,358,000	60,539,000	29,088,000	26,526,000	23,817,000	30,462,000	34,694,000	27,133,000	29,368,000	29,151,000	26,821,000	24,218,000	24,538,000	26,383,000	19,454,000	19,296,000	18,409,000	21,164,000	19,237,000	19,848,000	18,470,000	21,583,000	17,510,000	17,166,000	17,093,000	19,329,540	17,511,498	17,768,818	19,222,894	19,043,213	17,009,507	16,375,815	11,172,854	13,582,659	10,900,776	10,007,582	10,255,265	13,800,604	10,843,738	10,009,792	10,539,116	14,420,323	11,186,772	11,026,479	11,428,243		10,643,000	11,672,748	15,738,077		52,949,354	51,416,738	44,191,405
receivables, net of provision for credit losses	9,703,000	11,067,000	8,950,000	12,033,000	12,024,000	10,257,000	11,892,000
income taxes receivable		3,013,000		2,919,000		1,523,000	49,000	1,580,000		1,006,000	2,691,000	4,599,000		24,989,000	24,646,000	28,269,000	24,365,000	26,946,000	21,323,000	25,063,000	23,383,000	24,894,000		1,228,000	94,000	185,000				279,000		460,000	272,000	2,008,000	859,000	1,643,000		408,000	517,000	1,839,000		611,000	979,000	1,937,000		1,139,000	200,000			607,771	418,471
inventories	8,337,000	9,089,000	8,479,000	8,367,000	8,264,000	9,296,000	7,659,000	8,099,000	7,366,000	7,614,000	7,184,000	7,166,000	6,933,000	7,558,000	6,534,000	7,695,000	6,972,000	7,159,000	6,117,000	6,077,000	6,968,000	7,823,000	7,348,000	6,994,000	6,889,000	6,735,000	4,540,000	3,700,000	3,617,000	3,692,000	3,324,000	3,300,000	3,244,000	3,335,000	3,110,000	3,191,000	2,904,000	3,097,000	2,807,000	2,898,000	2,838,000	2,881,000	2,688,000	2,588,000	2,854,000	2,846,000	2,616,000	2,426,000	2,394,000	2,675,145	2,460,004	2,270,474	2,364,866	2,382,802	2,139,202	2,265,773	1,968,048	2,165,109	1,907,343	1,965,832	1,874,639	1,883,816	1,800,217	1,691,634	1,548,243	1,706,867	1,514,146	1,429,987	1,418,374	1,564,347	1,591,575	1,471,347	1,411,596	1,496,046	1,478,542	1,494,922	1,409,531	1,471,667	1,489,634	1,489,634	1,467,337
prepaid expenses and other	8,714,000	9,616,000	8,947,000	7,628,000	7,933,000	10,586,000
total current assets	146,879,000	129,253,000	134,015,000	102,537,000	103,311,000	90,422,000	68,334,000	60,956,000	66,462,000	74,966,000	62,688,000	61,933,000	57,017,000	89,429,000	81,988,000	80,263,000	79,004,000	84,064,000	75,776,000	75,191,000	69,538,000	73,156,000	50,266,000	56,616,000	55,928,000	79,155,000	45,979,000	41,079,000	37,513,000	46,681,000	49,562,000	40,074,000	42,971,000	46,031,000	42,206,000	36,998,000	35,962,000	39,411,000	31,677,000	31,605,000	28,423,000	31,787,000	32,905,000	33,158,000	30,174,000	34,262,000	33,249,000	32,128,000	31,544,000	33,979,728	30,947,026	30,244,834	32,619,596	31,945,168	25,158,390	24,732,939	22,944,136	24,862,409	23,741,239	19,103,379	18,863,976	22,990,656	20,532,146	19,138,487	19,384,577	22,135,606	19,338,304	18,734,407	19,733,237	19,946,860	19,549,492	20,446,449	24,554,671	49,692,746	64,137,444	60,885,464		45,523,975			27,496,837
property and equipment	551,512,000	556,668,000	564,242,000	576,025,000	581,696,000	575,287,000	577,518,000	586,091,000	585,434,000	580,497,000	576,126,000	577,795,000	581,360,000	578,050,000	581,183,000	587,947,000	586,543,000	580,807,000	570,903,000	565,877,000	569,544,000
goodwill	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,111,000	25,110,810	25,110,810	25,110,810	25,110,810	25,110,810	26,575,592	26,575,592
intangible and other assets	1,672,000	1,817,000
total assets	725,174,000	712,849,000	725,384,000	705,786,000	712,086,000	691,583,000	671,140,000	672,376,000	677,265,000	680,873,000	664,265,000	665,221,000	663,809,000	692,942,000	688,665,000	693,735,000	691,104,000	690,459,000	672,428,000	666,848,000	664,974,000	671,877,000	599,146,000	597,505,000	594,465,000	610,878,000	565,158,000	533,181,000	496,614,000	455,127,000	425,818,000	373,246,000	343,405,000	332,087,000	322,489,000	305,051,000	299,903,000	295,165,000	284,876,000	281,167,000	276,578,000	274,846,000	265,129,000	258,004,000	251,784,000	252,301,000	242,744,000	242,372,000	242,277,000	244,523,242	242,540,582	242,585,762	246,470,211	248,119,955	247,619,546	249,073,180	175,642,271	179,599,604	170,787,659	171,352,867	173,524,131	179,733,538	178,010,489	178,720,715	181,466,640	185,786,714	182,549,044	180,749,381	182,521,868	182,501,496	172,860,663	162,187,594	146,237,307	154,285,868	160,934,564	154,721,945	145,808,274	138,380,907	132,047,208	132,047,208	122,029,806
liabilities and stockholders’ equity
current liabilities																																																																										2,007				2,006
accounts payable	45,406,000	44,924,000	40,583,000	39,177,000	38,803,000	41,243,000	13,318,000	17,398,000	21,448,000	23,092,000	19,536,000	15,034,000	15,247,000	14,418,000	16,510,000	16,795,000	19,410,000	18,575,000	14,936,000	13,790,000	12,358,000	11,655,000	11,282,000	6,591,000	6,579,000	17,037,000	11,149,000	11,501,000	9,522,000	11,182,000	8,875,000	7,411,000	8,718,000	8,184,000	8,242,000	7,177,000	7,496,000	8,720,000	7,358,000	8,002,000	8,000,000	6,747,000	8,134,000	6,434,000	6,259,000	7,933,000	7,871,000	7,922,000	7,363,000	8,665,570	8,065,819	8,068,523	8,351,876	8,061,570	9,108,497	10,474,620	7,091,171	8,693,395	7,919,016	8,238,242	7,696,287	10,216,495	6,972,541	6,958,118	7,641,845	8,984,010	7,140,764	7,615,778	6,317,908	10,213,418	11,045,878	12,788,488	9,617,595	10,840,318	8,053,256	8,617,963	8,051,155	8,590,669	7,082,667	7,082,667	5,354,980
construction accounts payable	48,184,000	50,209,000	47,642,000	50,614,000	54,888,000	51,101,000	48,983,000	47,827,000	47,256,000	47,566,000	47,403,000	47,449,000	49,543,000	49,957,000	49,648,000	50,222,000	51,625,000	58,891,000	55,080,000	50,056,000	50,268,000	49,771,000	1,393,000	3,100,000	4,652,000	7,528,000	12,804,000	18,802,000	19,236,000	17,152,000	25,001,000	19,385,000	11,217,000	5,823,000	4,749,000	2,501,000	2,695,000	2,605,000	1,213,000	1,406,000	1,873,000	1,407,000	3,693,000	2,232,000	2,201,000	1,790,000	766,000	119,000	1,204,000																									1,971,022
accrued expenses	51,052,000	54,049,000	50,945,000	48,718,000	50,469,000	53,198,000	49,853,000	46,904,000	50,509,000	51,812,000	48,729,000	43,356,000	44,235,000	46,037,000	47,622,000	43,077,000	42,710,000	42,967,000	44,815,000	41,902,000	37,167,000	34,705,000	34,634,000	25,528,000	28,208,000	34,109,000	32,740,000	31,038,000	29,574,000	31,111,000	29,929,000	28,872,000	27,797,000	25,406,000	23,113,000	21,053,000	21,521,000	23,795,000	21,298,000	20,591,000	20,478,000	21,873,000	19,992,000	18,497,000	18,672,000	19,327,000	18,005,000	16,971,000	17,661,000	18,177,386	17,489,171	16,644,425	18,541,466	17,836,194	17,372,276	15,087,187	14,382,328	13,829,540	13,202,003	12,115,470	13,615,684	14,077,344	12,740,776	10,713,355	11,627,067	11,056,079	10,180,192	8,591,667	9,292,872	8,940,110	9,214,424	9,193,030	9,460,340	9,230,157	8,770,601	9,938,770	8,562,964	9,878,851	8,199,026	8,199,026	9,082,770
income taxes payable	4,939,000		52,000		4,247,000				4,536,000				3,651,000										1,454,000				4,136,000	2,223,000	1,427,000		91,000						2,312,000				1,830,000				1,070,000			162,000	1,160,000			13,211	2,431,217	274,401
short-term lease liability	986,000	1,019,000	1,015,000	1,011,000	890,000	921,000	945,000	938,000	919,000	897,000	883,000	660,000	649,000	639,000	538,000	604,000	669,000	745,000	571,000	654,000	737,000	813,000	800,000	788,000	788,000	791,000	797,000	802,000	796,000
total current liabilities	150,567,000	150,201,000	140,237,000	139,520,000	149,297,000	146,463,000	120,099,000	136,067,000	130,168,000	123,367,000	116,551,000	106,499,000	113,325,000	117,744,000	140,555,000	130,698,000	134,414,000	141,178,000	135,402,000	123,902,000	115,530,000	109,444,000	59,563,000	61,007,000	62,727,000	79,465,000	61,626,000	64,366,000	60,555,000	59,445,000	63,896,000	55,668,000	47,732,000	39,413,000	36,104,000	30,731,000	34,024,000	35,120,000	29,869,000	29,999,000	67,581,000	70,927,000	31,819,000	27,163,000	28,202,000	29,050,000	26,642,000	25,174,000	27,388,000	26,842,956	25,554,990	24,726,159	29,324,559	26,172,165	26,480,773	26,524,386	23,124,389	23,291,575	21,121,019	37,899,181	44,041,540	24,293,839	19,713,317	17,671,473	20,380,458	21,086,635	17,320,956	17,165,906	18,369,543	27,291,636	65,391,622	59,362,844	23,032,988	22,041,497	19,721,591	21,271,399		18,485,977			14,437,750
deferred income taxes	11,626,000	11,626,000	13,348,000	13,348,000	13,348,000	13,348,000	23,084,000	23,084,000	23,084,000	23,084,000	23,016,000	23,016,000	23,016,000	23,016,000	19,617,000	19,617,000	19,617,000		130,000	130,000	130,000	130,000	2,683,000	2,683,000	2,683,000	2,683,000	4,027,000	4,027,000	4,027,000	4,027,000	3,543,000	3,544,000	3,544,000	3,544,000	7,354,000	7,354,000	7,354,000	7,354,000	7,415,000	7,415,000	7,415,000		1,626,000	1,626,000	1,626,000	1,626,000	5,909,000	5,909,000	5,909,000	5,908,600	5,425,848	5,425,848	5,425,848	5,425,848	554,612	554,612	615,912	615,912	999,908	1,384,443	1,384,443	1,384,443	780,550	1,090,063	1,090,063	1,090,063	429,300	429,300	429,300	429,300	325,221	582,407	582,407	1,084,284	1,547,144	1,340,232	1,139,985	965,025	1,919,043	1,919,043	1,721,883
long-term lease liability	12,059,000	12,279,000	12,542,000	12,790,000	12,925,000	13,143,000	13,356,000	13,537,000	13,779,000	14,021,000	14,251,000	12,894,000	13,062,000	13,228,000	13,123,000	13,247,000	13,373,000	13,498,000	13,618,000	13,738,000	13,858,000	13,984,000	14,189,000	14,392,000	14,595,000	14,797,000	14,989,000	15,180,000	15,382,000
other long-term liability	1,073,000	1,073,000	881,000	881,000	881,000	881,000	1,321,000	1,321,000	1,321,000	1,761,000
total liabilities	175,325,000	175,179,000	167,008,000	166,539,000	176,451,000	173,835,000	157,860,000	174,009,000	168,352,000	167,733,000	161,818,000	183,409,000	200,403,000	153,988,000	173,295,000	207,399,000	225,915,000	242,445,000	248,033,000	265,761,000	285,064,000	303,810,000	245,616,000	257,083,000	250,371,000	269,677,000	232,465,000	212,056,000	186,457,000	153,945,000	133,166,000	92,638,000	73,932,000	65,613,000	62,304,000	56,931,000	60,224,000	61,320,000	59,769,000	64,999,000	67,581,000	70,927,000	69,719,000	69,363,000	70,202,000	75,350,000	70,042,000	74,074,000	76,288,000	80,642,956	81,854,990	89,526,159	101,124,559	107,272,165	108,580,773	114,524,386	43,216,438	49,083,624	41,219,653	42,157,271	48,299,630	57,151,929	56,420,911	60,167,130	66,076,115	73,282,292	70,580,987	71,381,277	75,484,914	76,907,007	68,217,055	62,188,277	25,858,421	24,866,930	23,430,205	25,155,013	23,848,784
stockholders’ equity
preferred stock, .01 par value...
common stock, .01 par value...	196,000	195,000	195,000	194,000	194,000	193,000	193,000	192,000	192,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	191,000	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963	190,963		190,963	190,963	190,963
additional paid-in capital	83,717,000	76,038,000	72,925,000	68,570,000	66,451,000	62,891,000	57,174,000	54,674,000	51,568,000	48,821,000	46,886,000	44,670,000	42,998,000	40,716,000	47,254,000	45,802,000	44,263,000	41,426,000	39,423,000	38,843,000	36,921,000	34,498,000	37,466,000	36,089,000	35,660,000	35,215,000	33,728,000	32,411,000	31,267,000	30,111,000	29,188,000	28,280,000	27,541,000	26,890,000	26,231,000	24,798,000	24,299,000	23,834,000	22,965,000			22,728,000				22,985,000	22,706,000	22,456,000		30,926,126	30,495,639	32,822,167	34,599,550	34,363,690	34,044,230	33,691,331	33,446,831	33,178,345	32,797,664	32,436,533	32,023,574	31,558,693	31,034,509	30,821,256	30,485,040	30,041,083	29,588,261	29,104,546	28,571,314	28,051,009	27,510,467	26,891,871	26,307,043	25,741,972	25,285,175	24,705,731	23,998,824	23,205,045	22,723,844	22,723,844	22,121,537
treasury stock	-154,142,000	-136,411,000	-95,006,000	-83,700,000	-63,686,000	-63,686,000	-63,749,000	-54,073,000	-23,292,000	-3,718,000			-62,000	-170,000	-7,859,000	-7,948,000	-8,121,000	-4,341,000	-6,086,000	-6,500,000	-7,606,000	-8,872,000	-11,117,000	-12,103,000	-12,349,000	-12,777,000	-13,602,000	-14,527,000	-15,072,000	-15,876,000	-16,224,000	-16,501,000	-17,658,000	-18,123,000	-19,356,000	-20,958,000	-21,661,000	-22,158,000	-23,557,000																													-48,943,359	-48,943,359		-48,943,359	-48,943,359	-25,176,059								-73,052
retained earnings	620,078,000	597,848,000	580,262,000	554,183,000	532,676,000	518,350,000	519,662,000	497,574,000	480,445,000	467,846,000	455,370,000	436,951,000	420,279,000	498,217,000	475,784,000	448,291,000	428,856,000	410,738,000	390,867,000	368,553,000	350,404,000	342,250,000	326,990,000	316,245,000	320,592,000	318,572,000	312,376,000	303,050,000	293,771,000	286,756,000	279,497,000	268,638,000	259,399,000	257,516,000	253,119,000	244,089,000	236,850,000	231,978,000	225,508,000	217,674,000	211,979,000	207,404,000	202,281,000	195,887,000	190,788,000	186,745,000	182,934,000	178,860,000	175,836,000	172,560,005	170,500,932	164,981,423	158,861,185	154,599,183	153,259,540	149,122,460	147,329,702	145,688,335	145,121,042	145,109,763	141,551,627	139,373,616	138,905,769	136,239,832	133,579,501	131,137,355	131,053,812	129,015,954	127,218,036	126,295,876	125,885,537	121,859,842	119,056,939	116,754,908	112,706,260	104,670,252	97,769,802	92,274,690	87,155,690	87,155,690	79,784,649
total stockholders’ equity	549,849,000	537,670,000	558,376,000	539,247,000	535,635,000	517,748,000	513,280,000	498,367,000	508,913,000	513,140,000	502,447,000	481,812,000	463,406,000	538,954,000	515,370,000	486,336,000	465,189,000	448,014,000	424,395,000	401,087,000	379,910,000	368,067,000	353,530,000	340,422,000	344,094,000	341,201,000	332,693,000	321,125,000	310,157,000	301,182,000	292,652,000	280,608,000	269,473,000	266,474,000	260,185,000	248,120,000	239,679,000	233,845,000	225,107,000	216,168,000	208,997,000	203,919,000	195,410,000	188,641,000	181,582,000	176,951,000	172,702,000	168,298,000	165,989,000	163,880,286	160,685,592	153,059,603	145,345,652	140,847,790	139,038,773	134,548,794	132,425,833	130,515,980	129,568,006	129,195,596	125,224,501	122,581,609	121,589,578	118,553,585	115,390,525	112,504,422	111,968,057	109,368,104	107,036,954	105,594,489											102,023,860
total liabilities and stockholders’ equity	725,174,000	712,849,000	725,384,000	705,786,000	712,086,000	691,583,000	671,140,000	672,376,000	677,265,000	680,873,000	664,265,000	665,221,000	663,809,000	692,942,000	688,665,000	693,735,000	691,104,000	690,459,000	672,428,000	666,848,000	664,974,000	671,877,000	599,146,000	597,505,000	594,465,000	610,878,000	565,158,000	533,181,000	496,614,000	455,127,000	425,818,000	373,246,000	343,405,000	332,087,000	322,489,000	305,051,000	299,903,000	295,165,000	284,876,000	281,167,000	276,578,000	274,846,000	265,129,000	258,004,000	251,784,000	252,301,000	242,744,000	242,372,000	242,277,000		242,540,582																												132,047,208	132,047,208	122,029,806
intangible assets			1,727,000	1,792,000	1,614,000	345,000	177,000	218,000	258,000	299,000	340,000	382,000	321,000	352,000	383,000	414,000	446,000	477,000	508,000	539,000	651,000	973,000	663,000	955,000	1,246,000	1,538,000	1,829,000	2,121,000	2,412,000	2,704,000	2,995,000	3,286,000	3,578,000	3,869,000	4,160,000	4,452,000	4,743,000	5,035,000	5,326,000	5,617,000	5,909,000	6,200,000	6,491,000	6,783,000	7,074,000	7,366,000	7,657,000	7,948,000	8,240,000	8,531,219	8,787,238	9,078,627	9,515,803	10,204,691	10,893,580	11,582,469
other assets			289,000	321,000																					908,000	908,000	1,877,000	2,011,000	2,146,000	2,280,000	2,415,000	2,549,000	2,683,000	2,818,000	2,952,000	3,087,000	3,221,000	3,355,000	3,490,000	1,027,000	1,103,000	1,179,000	380,000	457,000	533,000	609,000	685,000	762,000	838,000	914,461	990,740	1,067,020	1,143,300	1,219,579	1,295,859	1,372,138	1,416,371	1,524,050	359,278	183,254	247,649	312,043	376,438	440,833	505,228	569,622	3,369,450	3,433,845	3,498,240	2,797,949	2,817,842	2,817,842	2,817,842	2,817,842	84,822	87,235	89,648	231,247	254,122	254,122	269,524
other long-term assets					354,000	418,000
long-term debt										5,500,000	8,000,000	41,000,000	51,000,000			43,837,000	58,511,000	68,152,000	85,792,000	114,900,000	142,455,000	167,162,000	171,864,000	181,684,000	173,049,000	175,415,000	155,850,000	132,510,000	110,520,000	94,500,000	69,270,000	36,970,000	26,200,000	26,200,000	26,200,000	26,200,000	26,200,000	26,200,000	29,900,000	35,000,000			37,900,000	42,200,000	42,000,000				48,900,000	53,800,000	56,300,000	64,800,000	71,800,000	81,100,000	82,100,000	88,000,000	18,980,000	24,680,000	16,000,000
prepaid expenses							9,354,000	7,908,000	9,347,000	10,995,000	7,928,000	7,008,000	7,650,000	8,537,000	7,749,000	6,291,000	7,031,000	7,552,000	6,672,000	7,083,000	7,322,000	8,393,000	7,109,000	4,323,000	5,393,000	6,238,000	5,588,000	4,449,000	4,691,000	5,508,000	4,611,000	4,178,000	4,513,000	4,612,000	4,599,000	3,875,000	4,113,000	4,487,000	4,281,000	3,769,000	3,696,000	3,402,000	4,705,000	4,064,000	4,336,000	4,021,000	3,496,000	3,288,000	3,768,000	2,830,212	2,899,528	2,484,506	3,365,919		2,805,293	2,742,518				3,240,292	3,042,519	2,553,341	2,450,672	3,105,286	3,166,543	2,623,650	3,062,464	2,841,640	2,969,024	2,851,872	3,544,082	3,040,123	3,054,637	3,144,374	3,572,182	3,007,904	3,017,152	2,833,126	3,054,855	3,054,855
current maturities of long-term debt							7,000,000	23,000,000	5,500,000					6,693,000	26,237,000																																																							2,500,000
receivables								9,861,000	10,265,000	11,990,000	10,967,000	8,060,000	8,004,000	9,566,000	9,920,000	7,428,000	7,487,000	8,881,000	8,628,000	8,672,000	7,722,000	3,736,000	5,283,000	5,751,000	4,194,000	5,458,000	6,763,000	6,404,000	5,388,000	6,740,000	6,933,000	5,003,000	5,574,000	6,925,000	6,817,000	4,071,000	4,407,000	5,036,000	4,618,000	3,803,000	3,480,000	3,729,000	3,670,000	3,095,000	2,888,000	3,047,000	3,518,000	3,339,000	2,380,000	2,628,460	2,231,677	2,295,188	2,240,069	2,456,883	2,367,304	2,794,221	2,563,049	2,299,847	2,481,418	2,505,230	2,307,110	3,269,250	3,606,120	2,805,313	3,040,612	2,294,703	2,699,250	3,007,001	3,488,296	3,344,441	3,445,614	3,679,824	3,487,954	4,134,099	4,590,222	3,625,668	3,182,040	3,268,970	3,470,359	3,470,359	3,334,252
current portion of long-term debt																20,000,000	20,000,000	20,000,000	20,000,000	17,500,000	15,000,000	12,500,000	10,000,000	25,000,000	22,500,000	20,000,000															35,400,000	40,900,000
land																						32,986,000	30,769,000	30,769,000	30,769,000	30,769,000	30,769,000	30,034,000	30,034,000	30,034,000	30,034,000	30,034,000	30,034,000	30,034,000	30,034,000	29,549,000	29,549,000	29,549,000	29,549,000	29,549,000	29,549,000	29,549,000	29,415,000	29,415,000	29,415,000	29,415,000	28,680,000	28,680,000	28,680,000	28,680,347	27,914,847	27,914,847	27,914,847	27,914,847	27,914,847	27,914,847	19,214,847	19,214,847	13,172,522	13,172,522	13,172,522	13,172,522	13,172,522	13,172,522	13,172,522	13,172,522	12,712,522	12,162,522	12,162,522	12,162,522	12,162,522	12,162,522	12,162,522	10,339,530	10,339,530	10,339,530	10,339,530	10,339,530	10,339,530	10,339,530	10,339,530
land improvements																						9,847,000	7,856,000	7,842,000	7,842,000	7,842,000	7,742,000	7,719,000	7,645,000	7,645,000	7,281,000	7,281,000	7,281,000	7,249,000	6,946,000	6,914,000	6,914,000	6,914,000	6,701,000	6,701,000	6,701,000	6,701,000	6,701,000	6,701,000	6,701,000	6,701,000	6,701,000	6,562,000	6,562,000	6,561,729	6,561,729	6,561,729	6,561,729	6,561,729	6,389,279	6,389,279	6,359,279	6,359,279	4,026,175	4,026,175	3,981,329	3,891,990	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,511,484	3,166,107	3,166,107	3,166,107	3,166,107	3,166,107	3,166,107	3,166,107	3,166,107
buildings																						471,819,000	193,235,000	193,235,000	193,235,000	193,235,000	193,235,000	193,235,000	193,235,000	193,235,000	193,286,000	193,286,000	193,286,000	193,286,000	193,252,000	191,412,000	191,370,000	191,370,000	152,284,000	152,246,000	150,860,000	150,966,000	150,771,000	150,771,000	150,771,000	150,821,000	150,828,000	150,828,000	150,828,000	150,828,230	150,843,298	150,843,298	150,843,298	150,843,298	150,843,298	150,843,298	135,643,298	135,643,298	135,643,299	139,843,299	139,843,299	139,843,299	140,522,106	140,522,106	140,522,106	140,522,106	136,374,918	133,674,917	133,674,917	133,332,232	113,655,538	80,655,538	80,655,538	78,955,538	78,955,538	78,955,538	78,955,538	78,955,538	78,955,538	78,955,538	78,955,538
buildings improvements																						33,681,000	32,000,000	31,984,000	31,986,000	31,986,000	26,291,000	26,019,000	25,995,000	25,995,000	25,460,000	25,461,000	24,781,000	24,745,000	24,511,000	24,511,000	24,511,000	24,511,000	24,503,000	24,503,000	23,250,000	23,255,000	20,027,000	20,027,000	19,858,000	18,142,000	20,013,000	15,897,000	15,897,000
furniture and equipment																						229,052,000	149,412,000	149,718,000	153,661,000	152,461,000	150,249,000	148,699,000	145,245,000	139,772,000	143,726,000	141,915,000	141,483,000	140,404,000	138,257,000	136,500,000	136,059,000	134,603,000	133,395,000	134,063,000	136,432,000	134,704,000	129,026,000	127,285,000	126,694,000	125,671,000	136,610,000	135,566,000	135,456,000	134,424,884	140,401,470	137,523,457	135,341,915	132,946,374	130,874,200	128,022,083	118,744,444	117,300,741	116,313,681	114,948,175	114,133,821	112,847,107	111,238,662	110,070,823	109,462,469	107,655,784	105,808,017	104,763,183	102,377,493	96,767,076	92,373,657	73,328,364	72,895,692	72,511,165	71,746,192	71,637,884	74,936,335				70,285,434
construction in progress																						6,257,000	314,888,000	304,448,000	295,429,000	285,789,000	275,120,000	246,670,000	213,263,000	180,518,000	146,315,000	101,370,000	65,909,000	48,834,000	39,300,000	27,326,000	20,486,000	9,767,000	50,210,000	46,249,000	41,870,000	37,424,000	35,614,000	26,040,000	20,189,000	15,672,000	9,582,000	11,677,000	8,118,000	4,891,372																				4,026,536	15,508,180	53,494,393	31,997,407	17,236,062	10,968,149	6,131,220
right of use assets																						14,784,000	14,977,000	15,167,000	15,369,000	15,574,000	15,776,000	15,975,000	16,175,000
leasehold improvements																						3,848,000	3,848,000	3,848,000	3,848,000	3,848,000	3,848,000	3,782,000	3,782,000	3,782,000	3,782,000	3,782,000	3,782,000	3,800,000	2,688,000	2,688,000	2,688,000	2,688,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,347,000	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965	1,346,965
property and equipment - sum																						802,274,000	746,985,000	737,011,000																394,658,000	390,009,000	383,946,000	372,901,000	361,586,000	354,975,000	347,769,000	353,761,000	350,557,000	346,888,000	342,630,217	338,749,409	335,871,396	333,689,854	331,294,313	328,933,439	326,092,355	292,884,716	291,441,013	281,476,163	284,310,657	283,244,350	281,868,297	280,389,437	279,034,670	278,426,316	276,619,631	270,188,968	265,894,133	263,508,443	257,555,341	233,485,228	181,439,935	181,007,263	176,754,367	175,989,394	175,881,086	179,179,537	176,951,263	175,500,144		174,492,388
less accumulated depreciation and amortization																						-229,767,000	-226,562,000	-224,871,000	-223,550,000	-220,021,000	-216,695,000	-213,301,000	-209,969,000	-206,657,000	-207,692,000	-204,447,000	-201,038,000	-197,638,000	-194,282,000	-190,851,000	-188,065,000	-184,503,000	-186,132,000																													-107,313,004	-104,218,052		-98,500,079	-96,011,025	-94,139,876	-92,215,149	-90,245,245		-86,401,024	-84,325,578	-82,299,289	-82,299,289	-80,228,943
net property and equipment																						572,507,000	520,423,000	512,140,000	508,589,000	501,483,000	486,335,000	458,832,000	425,405,000	374,324,000	342,192,000	298,682,000	265,518,000	250,714,000	240,706,000	228,049,000	223,512,000	214,899,000	211,857,000	210,392,000	208,617,000	203,154,000	195,559,000	187,813,000	184,210,000	180,271,000	175,692,000	176,073,000	176,194,000	175,637,463	175,490,655	175,870,358	176,866,589	178,425,594	179,730,711	180,844,628	151,281,764	153,213,145	146,687,142	152,066,234	154,412,506	156,430,839	157,101,905	159,141,395	161,576,835	163,081,486	159,841,290	158,581,129	159,290,391	159,756,687	150,493,329	138,923,303	118,864,794	101,775,280	96,712,298	93,749,246		92,625,685			94,263,445
total other assets																						26,214,000	28,457,000	28,749,000	29,948,000	30,240,000	32,844,000	33,270,000	33,696,000	34,122,000	34,064,000	34,490,000	34,916,000	35,342,000	39,577,000	40,004,000	40,429,000	40,855,000	41,342,000	39,170,000	39,538,000	39,905,000	36,665,000	37,033,000	37,400,000	37,768,000	33,803,000	34,171,000	34,539,000	34,906,051	36,102,901	36,470,570	36,984,026	37,749,193	42,730,445	43,495,613
commitments and contingencies
additional paid - in capital																																								22,630,000	22,673,000		23,148,000	22,853,000	23,071,000				25,339,000
long - term debt																																														46,300,000	43,400,000	48,900,000
building improvements																																																		15,896,690	11,681,100	11,681,100	11,681,100	11,681,100	11,564,850	11,575,883	11,575,883	11,575,883	10,973,521	10,973,521	10,766,414	10,766,414	10,597,698	10,410,770	10,410,770	10,410,770	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,435,062	10,398,814	10,398,814	10,398,814
total liabilities and stockholder’s equity																																																		244,523,242			246,470,211			249,073,180								178,720,715	181,466,640				182,521,868
total liability and stockholder’s equity																																																				242,585,762		248,119,955	247,619,546		175,642,271	179,599,604	170,787,659	171,352,867	173,524,131	179,733,538	178,010,489			185,786,714	182,549,044	180,749,381		182,501,496
prepaid expenses and other current assets																																																						2,636,422			6,624,273	6,198,882	6,652,113
federal income tax receivable																																																							282,472				799,681			99,202	1,050,849	436,399
deferred tax asset																																																							3,965,414	3,965,414
federal income taxes payable																																																								962,579	1,650,890	768,640		545,469	729,569				1,111,546	46,546		958,461	390,311	233,736	190,074	51,100			1,371,747	947,056	3,187,051	16,457	1,338,218	1,338,218
other long-term liabilities																																																														873,872
other long term liabilities																																																											873,872	873,872	873,872
borrowings under credit facility																																																												17,000,000	22,000,000					1,000,000			900,000		42,500,000	34,000,000
long-term debt, less current maturities																																																														28,600,000	32,000,000	37,800,000	41,000,000	47,500,000	48,650,000	52,100,000	55,000,000	47,500,000
construction payable																																																																					1,468,452	5,404,372	2,441,246	3,330,226	3,955,053		1,525,987	1,767,610
federal income tax refund receivable																																																																			446,372						280,000	998,123							266,252
cash																																																																						11,756,900				38,835,820				36,985,187	28,658,340	28,658,340	18,086,552
16,122,048 outstanding at 12/31/08
18,566,540 outstanding at 12/31/07																																																																						190,963
529,760 shares at 12/31/07, at cost
liabilities and stockholders' equity
stockholders' equity
total stockholders' equity																																																																							104,643,608	99,999,317	120,378,886	129,418,938	137,504,359	129,566,932		115,646,316
total liability and stockholder's equity																																																																							172,860,663
total liabilities and stockholder's equity																																																																								162,187,594	146,237,307	154,285,868	160,934,564	154,721,945	145,808,274	138,380,907
shares authorized; none issued
shares authorized; 19,096,300 shares issued;
18,566,540 outstanding at 12/31/07 and
19,065,968 outstanding at 12/31/06																																																																										190,963	190,963	190,949	190,864
6,582 shares at 12/31/06, at cost																																																																										-13,268,905	-678,039
commitments and contingencies stockholders' equity
authorized; 19,096,300 shares issued;
19,067,518 outstanding at 9/30/07
authorized; 19,094,900 shares issued;
19,094,900 outstanding at 6/30/07
authorized; 19,086,434 shares issued;
19,086,434 outstanding at 3/31/07
furniture & equipment																																																																														72,708,061	71,293,190	71,293,190
shares authorized; 19,072,550 shares issued;
18,879,310 outstanding at 12/31/05																																																																														190,726	190,726	190,726
193,240 shares at 12/31/05, at cost																																																																														-24,145	-46,156	-46,156
authorized; none issued
authorized; 19,072,550 shares issued;
19,059,968 outstanding at 9/30/06
prepaid expense																																																																																	2,620,561
leasehold improvement																																																																																	1,346,965
preferred stock, 0.01 par value...
common stock, 0.01 par value...																																																																																	190,726

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30

cash flows from operating activities:
net income	27,592,000	22,944,000	31,576,000	27,008,000	19,864,000	4,211,000	27,601,000	22,682,000	18,275,000	18,202,000	24,163,000	22,413,000	17,670,000	22,433,000	27,493,000	19,435,000	18,118,000	19,871,000	22,314,000	18,149,000	8,154,000	15,260,000	10,745,000	-4,347,000	2,020,000	6,196,000	9,326,000	9,279,000	7,015,000	7,259,000	10,859,000	9,239,000	6,741,000	4,397,000	9,030,000	7,239,000	4,872,000	6,470,000	7,834,000	5,695,000	4,575,000	5,123,000	15,526,858	5,099	4,043	14,174,626	4,074	3,024	3,276	2,059,073	5,519,509	6,120,238	4,262,002	1,339,643	4,137,080	1,792,758	1,641,367	567,293	11,279	3,558,136	1,539,146	467,847	2,665,937	2,660,331	2,442,146	83,543	2,037,858	1,797,918	922,160	410,339	4,025,695	2,802,903	2,302,031	4,048,648	8,036,008	6,900,450	5,495,112	5,119,000	7,371,041
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	10,467,000	13,180,000	14,056,000	13,571,000	13,215,000	13,365,000	13,103,000	12,404,000	12,487,000	12,142,000	12,197,000	11,618,000	11,337,000	11,188,000	11,183,000	10,546,000	10,516,000	10,120,000	9,434,000	9,360,000	9,514,000	5,780,000	3,891,000	3,833,000	3,820,000	3,891,000	3,686,000	3,695,000	3,603,000	3,536,000	3,651,000	3,738,000	3,692,000	3,735,000	3,722,000	3,769,000	3,906,000	3,701,000	3,644,000	3,790,000	3,700,000	3,776,000	12,148,761	4,108	4,131	17,810,496	4,180	4,630	4,694	4,065,518	3,549,106	4,379,873	4,643,435	4,368,313	4,647,002	4,260,205	3,375,084	3,234,539	3,314,598	3,436,015	3,394,386	3,361,412	3,394,258	3,214,390	3,311,336	3,190,468	3,034,674	3,094,951	3,180,955	3,502,955	2,489,054	1,893,237	2,006,557
amortization of deferred loan costs	32,000	32,000	33,000	33,000	64,000					0	0	0	307,000	456,000	400,000	326,000	359,000	360,000	392,000	-55,000	293,000	298,000	197,000	135,000	134,000	135,000	134,000	135,000	134,000	135,000	134,000	134,000	135,000	135,000	134,000	135,000	134,000	135,000	122,000	77,000	76,000	109,000	228,848	76	76	304,771	77	76	76	76,279	76,280	76,280	76,279	76,280	76,279	44,233	107,679	65,679	64,394	64,396	64,394	64,395	64,395	64,395	64,394	64,395	64,395	64,394	72,446
stock-based compensation - stock options	1,953,000	2,316,000	2,078,000	1,875,000	2,127,000	2,275,000	2,038,000	1,773,000	1,778,000
provision for bad debts	48,000	154,000	-18,000	39,000	9,000	0	102,000	88,000	44,000	49,000	101,000	31,000	13,000	41,000	90,000	-8,000	32,000	201,000	20,000	-15,000	39,000	84,000								66,000				-49,000	115,000	-11,000	48,000	-18,000	66,000	8,000	18,000		79,965	28	7										-239,331	231,073	93,171					34,937	335,587			71,707	215,142	518,288	315,196	406,449	210,975	171,302	436,419
loss on disposition of assets	-79,000	92,000	21,000	6,000	-4,000	-19,000	205,000	100,000	-37,000	71,000	30,000			-77,000				-2,000	152,000			58,000	0							0	8,000			0	0	-14,000	18,000	9,000	5,000	607,000	56,000
non-cash operating lease expense	2,000	-451,000	2,000	-15,000	-2,000	1,000	7,000	8,000	8,000	9,000	20,000	5,000	5,000	10,000			-1,000
changes in operating assets and liabilities:
receivables	1,316,000	-2,271,000	3,101,000	-48,000	-1,776,000	1,635,000	-2,133,000	316,000	1,681,000	-1,072,000	-3,008,000	-87,000	1,549,000	313,000	-2,582,000	67,000	1,362,000	-454,000	24,000	-935,000	-4,025,000	1,463,000	439,000	-1,527,000	1,188,000	1,160,000	-379,000	-1,066,000	1,378,000	127,000	-1,976,000	558,000	1,383,000	-59,000	-2,861,000	347,000	581,000	-400,000			231,000				152				219	-240,332	53,766	-5,286	250,597					15,178	23,360	-165,903	1,011,970							-36,993	-459,051	-305,276	23,235	-83,172	927,849
income taxes receivable	7,952,000	-2,432,000	2,971,000	-7,166,000	5,770,000	-1,474,000	1,531,000	-6,116,000	5,542,000	1,685,000				-343,000	3,623,000	-3,904,000	2,581,000	-5,623,000														-188,000	1,736,000	-1,149,000								368,000
inventories	752,000	-610,000	-112,000	-103,000	1,032,000	-1,637,000	440,000	-733,000	248,000	-430,000	-18,000	-233,000	625,000	-1,024,000	1,161,000	-723,000	187,000	-1,042,000	-40,000	891,000	855,000	-475,000	-354,000	-105,000	-154,000	-2,195,000			75,000	-368,000	-24,000	-56,000	91,000	-225,000	81,000	-287,000	193,000	-290,000			43,000		157,742				-190	-32	281			94,392	17,936				197,061				9,177			-143,391	158,624		-84,159	-11,613	145,973		-120,229	-59,751	84,451
prepaid expenses and other	992,000	-540,000	-1,319,000	305,000	1,332,000
accounts payable	482,000	4,341,000	1,406,000	374,000	-2,440,000	27,925,000	-4,080,000	-4,050,000	-1,644,000	3,556,000	4,502,000	-213,000	829,000	-2,092,000	-285,000	-2,615,000	835,000	3,639,000	1,146,000	1,432,000	703,000	373,000	4,691,000	12,000	-10,458,000	5,888,000	-352,000	1,979,000	-1,660,000	2,307,000	1,464,000	-1,307,000	534,000	-58,000	1,066,000	-215,000	-1,224,000	1,362,000	-644,000	2,000	1,253,000									599,751	-2,704	-283,353	290,306		-1,366,131													1,297,870	-3,895,510		-1,742,610	3,170,893	-1,222,723
accrued expenses	-2,997,000	3,104,000	2,227,000	-1,751,000	-2,729,000	2,905,000	2,949,000	-3,605,000	-1,743,000	4,844,000	5,373,000	-879,000	-1,802,000	-1,585,000	4,545,000	367,000	-257,000	-1,848,000	2,913,000	4,735,000	2,462,000	71,000	9,106,000	-2,680,000	-5,901,000	1,369,000	1,702,000	1,464,000	-1,537,000	1,182,000	1,057,000	1,075,000	-2,467,000	2,293,000	2,060,000	-455,000	-2,274,000	2,497,000				1,881,000											705,272				552,789				177,205	1,336,566			570,988	875,885	1,588,526	-701,205	352,762		21,394	-267,310	230,183
net cash from operating activities	48,512,000	38,137,000	56,022,000	34,128,000	36,462,000	37,801,000	40,317,000	24,306,000	38,287,000	38,637,000	46,494,000	26,381,000	61,534,000	33,584,000	45,573,000	25,173,000	35,438,000	31,826,000	41,074,000	33,349,000	21,854,000	12,159,000	29,302,000	-2,551,000	-7,466,000	15,277,000	16,317,000	18,184,000	13,468,000	13,765,000	16,522,000	15,442,000	13,027,000	14,709,000	16,443,000	7,992,000	10,310,000	14,553,000							8,239	31,222,218	8,676	6,258	7,848	7,718,383	9,330,795	7,183,480	11,854,615	5,366,207	9,385,805	6,563,569	4,733,898	4,992,875	7,299,119	5,840,559	4,430,714	9,226,553	7,939,365	3,387,603	5,425,478	10,586,949	7,885,445				5,418,311	8,276,344	5,913,452
capital expenditures	-5,551,000	-5,925,000	-2,476,000	-8,104,000	-19,819,000	-11,560,000	-4,898,000	-13,352,000	-17,622,000	-16,841,000	-8,962,000	-8,425,000	-14,777,000	-8,052,000	-4,731,000	-11,880,000	-14,814,000	-19,936,000	-14,787,000	-5,778,000	-6,427,000	-58,430,000	-12,073,000	-7,325,000	-10,839,000	-19,022,000	-31,097,000	-37,031,000	-38,217,000	-35,378,000	-46,877,000	-36,615,000	-18,204,000	-13,453,000	-16,088,000	-8,203,000	-12,246,000	-6,475,000							0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0				-14,059,079	-21,951,745	-19,096,073
free cash flows	42,961,000	32,212,000	53,546,000	26,024,000	16,643,000	26,241,000	35,419,000	10,954,000	20,665,000	21,796,000	37,532,000	17,956,000	46,757,000	25,532,000	40,842,000	13,293,000	20,624,000	11,890,000	26,287,000	27,571,000	15,427,000	-46,271,000	17,229,000	-9,876,000	-18,305,000	-3,745,000	-14,780,000	-18,847,000	-24,749,000	-21,613,000	-30,355,000	-21,173,000	-5,177,000	1,256,000	355,000	-211,000	-1,936,000	8,078,000							8,239	31,222,218	8,676	6,258	7,848	7,718,383	9,330,795	7,183,480	11,854,615	5,366,207	9,385,805	6,563,569	4,733,898	4,992,875	7,299,119	5,840,559	4,430,714	9,226,553	7,939,365	3,387,603	5,425,478	10,586,949	7,885,445				-8,640,768	-13,675,401	-13,182,621
cash flows from investing activities:
proceeds from sale of assets	87,000	16,000	0	21,000	4,000	37,000	24,000	0	49,000	73,000	6,000			302,000	7,000	104,000	27,000	2,000	7,000			6,000	1,000											0	0	85,000	1,000	13,000	-4,000			11,000	22,977	3	20	83,916	9					1,592	20,608	2,400	0			0	0			0	0			0	0	0	83,425	32,200	0	2,200	8,000	0	1,199	5,300	470	0	21,575
change in construction accounts payable	-2,025,000	2,567,000	-2,972,000	-4,274,000	3,787,000	2,118,000	1,156,000	571,000	-310,000	163,000	-46,000	-2,094,000	-414,000	309,000	-574,000	-1,403,000	-7,266,000	3,811,000
acquisition of property and equipment	-5,551,000	-5,925,000	-2,476,000	-8,104,000	-19,819,000	-11,560,000	-4,898,000	-13,352,000	-17,622,000	-16,841,000	-8,962,000	-8,425,000	-14,777,000	-8,052,000	-4,731,000	-11,880,000	-14,814,000	-19,936,000	-14,787,000	-5,778,000	-6,427,000	-58,430,000	-12,073,000	-7,325,000	-10,839,000	-19,022,000	-31,097,000	-37,031,000	-38,217,000	-35,378,000	-46,877,000	-36,615,000	-18,204,000	-13,453,000	-16,088,000	-8,203,000	-12,246,000	-6,475,000																														-2,385,689	-2,734,136		-14,059,079	-21,951,745	-19,096,073	-7,078,269	-4,945,237	-3,035,703	-2,228,274	-1,559,227	-1,106,939
net cash from investing activities	-7,489,000	-3,342,000	-5,448,000	-12,357,000	-16,028,000	-9,405,000	-3,718,000	-12,781,000	-17,883,000	-16,605,000	-9,002,000	-10,428,000	-15,191,000	-7,441,000	-5,298,000	-13,179,000	-22,053,000	-16,123,000	-9,756,000	-5,977,000	-5,930,000	-10,046,000	-13,779,000	-8,853,000	-13,715,000	-24,226,000	-37,095,000	-37,465,000	-36,133,000	-43,227,000	-41,261,000	-28,447,000	-12,810,000	-12,379,000	-13,840,000	-8,312,000	-12,155,000	-5,070,000																														-3,854,141	-6,586,631		-14,948,059	-22,574,372	-17,104,042
cash flows from financing activities:
proceeds from exercise of stock options	5,727,000	797,000	4,581,000	244,000	1,434,000	3,444,000	2,437,000	1,333,000	1,007,000	921,000	179,000	458,000	1,015,000	3,914,000	284,000	437,000	5,206,000	2,787,000	749,000	2,184,000	2,409,000	2,599,000																												318,674	1,812,099				0							0	49,349			0								261,954	29,329	80,615	230,738	72,227	113,881
payment of dividends	-5,362,000	-5,358,000	-5,497,000	-5,501,000	-5,538,000	-5,523,000	-5,513,000	-5,553,000	-5,676,000
purchase of company common stock	-17,731,000	-41,405,000	-11,306,000			63,000	-9,676,000	-30,781,000	-19,574,000					0	0	0	-6,500,000
net cash from financing activities	-17,366,000	-45,966,000	-14,525,000	-25,271,000	-4,104,000	-9,016,000	-30,727,000	-17,501,000	-24,281,000	-12,589,000	-38,674,000	-15,283,000	-50,692,000	-20,503,000	-37,716,000	-14,563,000	-13,762,000	-15,213,000	-26,578,000	-23,219,000	-20,091,000	-4,329,000	-23,317,000			40,400,000	23,340,000	21,990,000	16,020,000	25,230,000	32,300,000							-2,554,000																	-5,900,000													-3,800,000	5,900,000	7,500,000	8,500,000	10,232,699	-11,907,153
change in cash and cash equivalents	23,657,000	-11,171,000	36,049,000	-3,500,000	16,330,000	19,380,000	5,872,000	-5,976,000	-3,877,000	9,443,000	-1,182,000	670,000	-4,349,000	5,640,000	2,559,000	-2,569,000	-377,000	490,000	4,740,000	4,153,000	-4,167,000	-2,216,000	-7,794,000	-1,038,000	-21,181,000	31,451,000
cash and cash equivalents at beginning of period	96,468,000	0	0	0	58,760,000	0	0	0	43,361,000	0	0	0	38,779,000	0	0	0	33,526,000	0	0	0	28,310,000	0	0	0	60,539,000	0	0	0	30,462,000	0	0	0	29,151,000	0	0	0	26,383,000	0	0	0	21,164,000		21,561,417	0	21,583		0	0	19,330		0	0	19,043,213		0	0	13,582,659	0	0	0	13,800,604		0	0	14,420,323		0	0	11,756,900		0	0	38,835,820		0	0	36,985,187
cash and cash equivalents at end of period	120,125,000	-11,171,000	36,049,000	-3,500,000	75,090,000	19,380,000	5,872,000	-5,976,000	39,484,000	9,443,000	-1,182,000	670,000	34,430,000	5,640,000	2,559,000	-2,569,000	33,149,000	490,000	4,740,000	4,153,000	24,143,000	-2,216,000	-7,794,000	-1,038,000	39,358,000	31,451,000	2,562,000	2,709,000	23,817,000	-4,232,000	7,561,000	-2,235,000	29,368,000	2,330,000	2,603,000	-320,000	24,538,000	6,929,000	158,000	887,000	18,409,000		19,217,152	1,378	18,470		344	73	17,093		-257,320	-1,454,076	19,222,894		633,692	5,202,961	11,172,854	2,681,883	893,194	-247,683	10,255,265		833,946	-529,324	10,539,116		160,293	-401,764	11,428,243		-1,029,748	-4,065,329	15,738,077		1,532,616	7,225,333	44,191,405
supplemental disclosure of cash flow information:
cash paid for interest	60,000	63,000	63,000	62,000	61,000	403,000	297,000	208,000	78,000	158,000																																								238,532	307,167	447,618	479,180	568,583	542,827	407,305	139,738	137,203	94,827	124,435	176,330	247,965	268,331	299,296	329,021		430,996	534,581	560,500				4,157	0	0	3,174	263
stock-based compensation - restricted stock
deferred income taxes																		6,526,000	0	0	1,000																																		0											-575,137					257,186	0	501,877
payroll taxes from net exercise of stock options		0				0	-1,975,000	0	-38,000	-256,000	-109,000	0	-99,000	-4,417,000	0	0	-2,468,000	0	-327,000
line-of-credit borrowings						0	0	36,000,000	9,500,000	3,500,000	7,000,000	0	61,000,000	0	0
line-of-credit payments						-7,000,000	-16,000,000	-18,500,000	-9,500,000	-6,000,000	-40,000,000	-10,000,000	-10,000,000	0	0
principal payments on long-term debt										0	0	0	-7,000,000	-20,000,000	-38,000,000	-12,000,000	-13,000,000	-18,000,000	-27,000,000	-25,000,000	-22,500,000	-4,563,000	-15,000,000															-3,700,000																																								0	0
cash paid for federal income tax
cash paid for colorado income tax
cash received - income taxes refunds
cash paid for income taxes			4,200,000			11,020,000	6,000,000			5,320,000	5,540,000			1,820,000	4,370,000			4,310,000	2,095,000							4,480,000	284,000			2,655,000	2,400,000			750,000	3,275,000			2,900,000	2,825,000			2,880,000	8,044,500			7,294,450	2,700			1,100,000	3,440,000	5,950,000	200,000	1,000,000	2,375,000			450,000	1,100,000			50,000	1,700,000	3,000,000	250,000	1,500,000	0	400,000	340,000	900,000	1,700,000			4,800,000	4,200,000	6,200,000	47,923	4,400,000
prepaid expenses							-1,446,000	1,439,000	1,648,000	-3,067,000	-920,000	642,000	887,000	-788,000	-1,458,000	740,000	521,000	-880,000	411,000	239,000	1,071,000	-1,284,000	-2,786,000	1,978,000	845,000	-650,000	-1,139,000	242,000	817,000	-897,000	-433,000	335,000	99,000	-13,000	-724,000	238,000	374,000	-206,000																168,871	-62,775							-102,669						127,384	-117,152	692,210	-503,959	14,514	89,737
stock-based compensation											2,146,000	1,276,000	1,474,000	1,653,000	1,257,000	1,025,000	1,160,000	961,000	572,000	1,247,000	1,280,000	1,104,000	569,000	1,309,000	873,000	2,311,000	2,243,000	1,689,000	1,960,000	1,271,000	1,185,000	1,897,000	1,115,000	1,892,000	3,036,000	1,201,000	962,000	698,000	433,000	423,000	127,000	606,000	937,380	329	291	1,225,123	301	313	263	403,709
payment of dividend											-5,744,000	-5,741,000	-95,608,000
income taxes receivable/payable												-8,250,000	28,640,000
cash paid for interest, net of amounts capitalized												820,000	522,000	311,000	474,000	372,000	293,000	362,000	500,000	879,000	1,328,000									0				191,000	26,000	71,000	138,000					66,000	307,753	105	142	852,393	160	205	242
long-term debt borrowings																	3,000,000					2,063,000	-7,250,000			44,150,000	23,340,000	21,990,000	16,020,000	25,230,000	32,300,000
write off of unamortized debt issuance costs																						0
loan issuance cost																						0																0
conversion of long-term deposit to short term deposit
stock based compensation - restricted stock															0	30,000	50,000
right of use asset																										4,000	3,000	4,000	3,000
gain on disposition of assets																-114,000	-25,000
conversion of long term deposit to short term deposit																						0
non cash operating lease expense																				-5,000	-4,000
income taxes																				-1,680,000	1,511,000	-26,348,000	2,682,000	-1,134,000	91,000	-4,321,000	1,913,000	796,000	1,706,000	-370,000						-3,955,000	2,720,000	109,000			2,441,000				2,209		-362	-998	1,768				2,156,816
change in construction payable																				-212,000	497,000	48,378,000	-1,707,000	-1,552,000	-2,876,000	-5,276,000	-5,998,000	-434,000	2,084,000	-7,849,000	5,616,000	8,168,000	5,394,000	1,074,000	2,248,000	-194,000	90,000	1,392,000			466,000		1,902,558	31	411	1,789,234	647	-1,085	1,204																								1,984,031	445,035
accrued expenses - adjustment to beginning retained earnings for accounting changes in accordance with the new revenue recognition standard
provision (recovery) for bad debts																								-30,000	76,000
net exercise of stock options																																						834,000	672,000	1,052,000	376,000	1,914,000	1,984,071	1,632	297
provisions for bad debts																										145,000
return of assets under capital lease:
provisions (recoveries) for bad debts
change in cash																												2,709,000	-6,645,000	-4,232,000
recoveries for bad debts																													-26,000
adjustment to beginning retained earnings for accounting changes in accordance with the new revenue recognition standard
excess tax benefit from stock-based compensation																																						-312,000	-710,000	215,000	70,000	579,000	285,725			1,078,605	0
(recoveries) provision for bad debts
net decrease in cash																																				-320,000	-1,845,000																															-401,764	-328,657
(recoveries) benefit from bad debts																																	-32,000
net increase in cash																																	217,000	2,330,000																			179,681	2,033,706	633,692																-1,029,748	-4,065,329	-23,097,743
revenues
casino																																	29,945,000
food and beverage																																	16,938,000
hotel																																	6,363,000
other																																	3,022,000
gross revenues																																	56,268,000
less promotional allowances
net revenues																																	56,268,000
operating expenses
selling, general and administrative																																	15,185,000
total operating expenses																																	47,711,000
earnings per share of common stock
basic																																	380
diluted																																	360
conversion of short term deposit to long term deposit
net cash provided by operating activities																																								6,367,000	10,761,000	9,810,000	28,416,102																										357,974
supplemental disclosure of cash flow information
supplemental disclosure of cash flow information cash paid for interest, net of amounts capitalized																																									9,000
provision (recoveries) for bad debts
net (decrease) increase in cash
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
adjustments to reconcile net income to net cash provided by operating activities:
changes in operating assets and liabilities, excluding the effect of monarch black hawk acquisition:
net cash paid for the monarch black hawk acquisition
borrowings under credit facility																																																										11,180,000								2,000,000	3,850,000	0	5,900,000		8,500,000
cash paid for federal tax settlement
provision (recoveries) of bad debts																																															45	5	29
loss on disposal of assets																																															0
loss on sale of assets
acquisition deposit
loan issuance costs
net cash (used in) provided by financing activities
non cash transaction - reduction of jackpot liability																																																										0	0	0	638,865
gain on disposal of assets																																																																				0	-63,948		0	-2,200	-8,000
net cash paid for the riviera black hawk acquisition
share based compensation																																																				286,395	235,860	429,716	352,899	316,867	268,485	380,680	361,132	412,959	464,881			456,706	443,957	452,822	542,412	533,232	520,305	540,542	618,596	584,828	565,071
changes in operating assets and liabilities, excluding the effect of riviera black hawk acquisition:
net proceeds from exercise of stock options
net cash provided (used) by financing activities
loss on disposal and demolition of assets
federal income taxes																																																								-688,311	882,250			-184,100	828,771
proceeds from line of credit																																																							2,200,000
loan commitment fees
net cash paid for riviera black hawk, inc.
prepaid expenses and other current assets
other assets																																																																				1	-772,737
tax benefit of stock option exercise																																																																		1								113,853	37,220	54,242	87,442	108,978	26,788
loss on demolition and disposal of assets
purchase of treasury stock																																																																							0	-23,767,301	-11,907,153	-13,117,734
stock based compensation
federal income taxes payable																																																																	1,065,000			568,150	156,575	43,662	138,974
cash paid for interest net of 0, 499,990 and 0 capitalized respectively
changes in operating assets and liabilities
changes in payable construction
changes in construction payable																																																																				-1,468,452	-3,935,920
deferred tax asset write-off
proceeds from long-term borrowings
cash paid for interest net of 499,990, 0 and 0 capitalized respectively
cash paid for interest net of 452,019 and 0 capitalized, respectively
cash paid for interest.																																																																														0
adjustments to reconcile net income to net
cash provided by operating activities:
share-based compensation
(gain) loss on disposal of assets
changes in assets and liabilities:
changes in assets and liabilities
cash at beginning of year
cash at end of year
supplemental schedule of non-cash investing and financing activities:
the company financed the purchase of property and
equipment in the following amounts
cash at beginning of period																																																																															0
cash at end of period																																																																															10,571,788
cash from operating activities:
land improvements
buildings
building improvements
furniture
equipment
adjustments to reconcile net income to net cash from operating activities
provision for bad debt
accrued expenses and federal income taxes payable

Monarch Casino & Resort, Inc(NASDAQ:MCRI)

Monarch Casino & Resort, Inc
(NASDAQ:MCRI)