Casino Operator Stocks Q3 Teardown: Monarch (NASDAQ:MCRI) Vs The Rest

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the casino operator stocks, including Monarch (NASDAQ:MCRI) and its peers.

Casino (EPA:CASP) operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.

The 9 casino operator stocks we track reported a slower Q3. As a group, revenues were in line with analysts’ consensus estimates.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.3% since the latest earnings results.

Monarch (NASDAQ:MCRI)

Monarch reported revenues of $137.9 million, up 3.7% year on year. This print exceeded analysts’ expectations by 2.9%. Overall, it was a strong quarter for the company with a decent beat of analysts’ EPS and EBITDA estimates.

CEO Comment John Farahi, Co-Chairman and Chief Executive Officer of Monarch, commented: "Our 2024 third quarter results were strong, reflecting the strength and player appeal of our properties, amenities and service level. Third quarter net revenue and adjusted EBITDA were $137.9 million and $50.6 million, respectively, resulting in an EBITDA margin of 36.7%."

Interestingly, the stock is up 11.3% since reporting and currently trades at $81.99.

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Best Q3: Boyd Gaming (NYSE:BYD)

Boyd Gaming reported revenues of $961.2 million, up 6.4% year on year, outperforming analysts’ expectations by 4.8%. The business had a strong quarter with a decent beat of analysts’ EBITDA estimates.

Boyd Gaming achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 11.7% since reporting. It currently trades at $71.83.

Weakest Q3: Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts reported revenues of $1.69 billion, up 1.3% year on year, falling short of analysts’ expectations by 2%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income and EPS estimates.

As expected, the stock is down 14% since the results and currently trades at $82.24.

Golden Entertainment (NASDAQ:GDEN)

Golden Entertainment reported revenues of $161.2 million, down 37.4% year on year. This number lagged analysts' expectations by 1.1%. Aside from that, it was a mixed quarter as it also produced a solid beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.

Golden Entertainment had the slowest revenue growth among its peers. The stock is up 2% since reporting and currently trades at $31.42.

MGM Resorts (NYSE:NYSE:MGM)

MGM Resorts reported revenues of $4.18 billion, up 5.3% year on year. This print missed analysts’ expectations by 0.5%. It was a softer quarter as it also recorded a significant miss of analysts’ EBITDA and EPS estimates.

The stock is down 21.6% since reporting and currently trades at $32.45.

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This content was originally published on Stock Story