RENO, Nev., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) ('Monarch' or 'the Company') provided the following comment on disagreements with its general contractor in Black Hawk, PCL Construction Services, Inc. ('PCL'), which have resulted in PCL filing a preemptory lawsuit on August 30, 2019 against Monarch and its Colorado subsidiaries.
Monarch Comment
COVID-19: What Black Hawk Casinos Are Like After Reopening Table Tennis Most Popular Sport With Colorado Bettors in May And that meant more hardship for Gilpin County, which gets 85 percent of.
- Denver-based sportsbook operator officially launches platform in Colorado Denver Business Journal; Barstool Opening First Retail Sportsbook in Colorado Westword; Phase I of Monarch Casino Resort Spa Black Hawk Expansion to Debut November 19 StreetInsider.com; Monarch to Open Long-Awaited Expansion of Black Hawk Casino Casino News.
- Black Hawk, CO – August 28, 2019. The City of Black Hawk was pleased to host Colorado Senator Cory Gardner on August 28th for a tour of the City's Maryland Mountain Recreational Park, a new mountain trail development situated in the beautiful hills and valleys above the City.
- The expansion at the Monarch Casino in Black Hawk is huge. 'Three new restaurants and expanding gaming floor, sports book, desk. Next Wednesday we'll open the first half of our hotel and shortly.
'Since engaging PCL as general contractor at Monarch Casino Black Hawk, we have worked tirelessly to move the construction project forward. While Monarch has been frustrated with PCL's numerous construction delays and cost increases, we have remained focused on the transformation of Monarch Casino Black Hawk.
'Monarch believes that PCL's lawsuit is principally an effort to deflect attention from their failures to deliver the completed project in a timely and cost appropriate manner. Unfortunately, we must now respond to PCL's lawsuit with our affirmative defenses as well as counterclaims against PCL which will detail their numerous contract and performance breaches. That said, we will continue to work with PCL to complete our new Monarch Casino Resort Spa Black Hawk.
'Given this lawsuit, the increasingly adversarial tone of communication from PCL, and our understanding of recent discussions regarding project delivery, we now believe that our expansion project – the new Monarch Casino Resort Spa Black Hawk – including the expanded casino, restaurants and certain public areas – should be fully open in the first quarter of 2020. The remaining remodeling of some areas of the existing casino is expected to be completed in the second quarter of 2020.
'Our disappointment with the ongoing construction delays at the expanded Monarch Casino Black Hawk is palpable. Importantly, other than a delay of the finished project, the customer experience should not be impacted at the property, now or in the future. Given the terrific guest response to the property's enhancements introduced to date, our entire team knows that the fully transformed Monarch Casino Resort Spa Black Hawk will be a game changer for this exciting and vibrant market. While PCL's performance has delayed our opening from our earlier announced dates, it will only increase the excitement of our team to deliver Black Hawk's best-in-class resort and hospitality destination for visitors from across the Denver metropolitan area.'
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements relating to (i) our plans, objectives, near- and long-term outlook, opportunities, expectations, growth prospects and future operations with respect to Monarch Casino Black Hawk and the regional market; (ii) our plans, construction, completion and opening timelines of upgraded, redesigned and/or expanded facilities at Monarch Casino Black Hawk; and (iii) our expectations regarding our future position in the market and the quality of service we provide to our guests. Actual results and future events and conditions may differ materially from those described in any forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation:
- construction factors, including delays, disruptions, increased costs of labor and materials, contractor disagreements, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters, building permit issues and other regulatory approvals or issues;
- we have not yet entered into a guaranteed maximum price ('GMP') construction contract with our Monarch Casino Black Hawk general contractor and negotiation of the GMP may involve disagreements between the parties, including potential disagreements over costs of and responsibility for delays and other construction related matters;
- components of our Monarch Casino Black Hawk construction project will be outside the scope of any GMP contract;
- risks related to development and construction activities (including disputes with and defaults by contractors and subcontractors; construction, equipment or staffing problems and delays; shortages of materials or skilled labor; environmental, health and safety issues; weather and other hazards, site access matters, and unanticipated cost increases);
- the cost, distraction and delays caused by litigation;
- the effects of local and national economic, credit and capital market conditions on the economy in general and on the gaming industry and our business in particular;
- guest acceptance of our expanded facilities once completed and the resulting impact on our market position, growth and future financial results; and
- competition in our target market areas.
Additional information concerning potential factors that could adversely affect all forward-looking statements, including the Company's financial results, is included in our Securities and Exchange Commission filings, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on our website at www.monarchcasino.com.
About Monarch Casino & Resort, Inc.
Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Casino Black Hawk in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information on Monarch, visit Monarch's website at www.monarchcasino.com.
Black Hawk Casino News
The Atlantis features approximately 61,000 square feet of casino space; 824 guest rooms; eight food outlets; two espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed year-round pool; two retail outlets offering clothing and traditional gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting room space. The casino features approximately 1,450 slot and video poker machines; approximately 38 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room.
The Monarch Casino Black Hawk features approximately 30,000 square feet of casino space; approximately 740 slot machines; 14 table games; a 250-seat buffet-style restaurant; a snack bar and a new nine-story parking structure with approximately 1,350 spaces, plus additional existing valet parking bringing total parking capacity to 1,500 spaces. Once completed, the Monarch Casino Resort Spa Black Hawk will nearly double the casino space and will add a 23-story hotel tower with approximately 500 guest rooms and suites, an upscale spa and pool facility, three restaurants (bringing the total to four restaurants), additional bars, and associated support facilities.
Contacts:
David Farahi
Chief Operating Officer
775/825-4700 or dfarahi@monarchcasino.com
Joseph Jaffoni, Richard Land, James Leahy
JCIR
212/835-8500 or mcri@jcir.com
RENO, Nev., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) ('Monarch' or 'the Company') provided the following comment on disagreements with its general contractor in Black Hawk, PCL Construction Services, Inc. ('PCL'), which have resulted in PCL filing a preemptory lawsuit on August 30, 2019 against Monarch and its Colorado subsidiaries.
Monarch Comment
COVID-19: What Black Hawk Casinos Are Like After Reopening Table Tennis Most Popular Sport With Colorado Bettors in May And that meant more hardship for Gilpin County, which gets 85 percent of.
- Denver-based sportsbook operator officially launches platform in Colorado Denver Business Journal; Barstool Opening First Retail Sportsbook in Colorado Westword; Phase I of Monarch Casino Resort Spa Black Hawk Expansion to Debut November 19 StreetInsider.com; Monarch to Open Long-Awaited Expansion of Black Hawk Casino Casino News.
- Black Hawk, CO – August 28, 2019. The City of Black Hawk was pleased to host Colorado Senator Cory Gardner on August 28th for a tour of the City's Maryland Mountain Recreational Park, a new mountain trail development situated in the beautiful hills and valleys above the City.
- The expansion at the Monarch Casino in Black Hawk is huge. 'Three new restaurants and expanding gaming floor, sports book, desk. Next Wednesday we'll open the first half of our hotel and shortly.
'Since engaging PCL as general contractor at Monarch Casino Black Hawk, we have worked tirelessly to move the construction project forward. While Monarch has been frustrated with PCL's numerous construction delays and cost increases, we have remained focused on the transformation of Monarch Casino Black Hawk.
'Monarch believes that PCL's lawsuit is principally an effort to deflect attention from their failures to deliver the completed project in a timely and cost appropriate manner. Unfortunately, we must now respond to PCL's lawsuit with our affirmative defenses as well as counterclaims against PCL which will detail their numerous contract and performance breaches. That said, we will continue to work with PCL to complete our new Monarch Casino Resort Spa Black Hawk.
'Given this lawsuit, the increasingly adversarial tone of communication from PCL, and our understanding of recent discussions regarding project delivery, we now believe that our expansion project – the new Monarch Casino Resort Spa Black Hawk – including the expanded casino, restaurants and certain public areas – should be fully open in the first quarter of 2020. The remaining remodeling of some areas of the existing casino is expected to be completed in the second quarter of 2020.
'Our disappointment with the ongoing construction delays at the expanded Monarch Casino Black Hawk is palpable. Importantly, other than a delay of the finished project, the customer experience should not be impacted at the property, now or in the future. Given the terrific guest response to the property's enhancements introduced to date, our entire team knows that the fully transformed Monarch Casino Resort Spa Black Hawk will be a game changer for this exciting and vibrant market. While PCL's performance has delayed our opening from our earlier announced dates, it will only increase the excitement of our team to deliver Black Hawk's best-in-class resort and hospitality destination for visitors from across the Denver metropolitan area.'
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements relating to (i) our plans, objectives, near- and long-term outlook, opportunities, expectations, growth prospects and future operations with respect to Monarch Casino Black Hawk and the regional market; (ii) our plans, construction, completion and opening timelines of upgraded, redesigned and/or expanded facilities at Monarch Casino Black Hawk; and (iii) our expectations regarding our future position in the market and the quality of service we provide to our guests. Actual results and future events and conditions may differ materially from those described in any forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation:
- construction factors, including delays, disruptions, increased costs of labor and materials, contractor disagreements, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters, building permit issues and other regulatory approvals or issues;
- we have not yet entered into a guaranteed maximum price ('GMP') construction contract with our Monarch Casino Black Hawk general contractor and negotiation of the GMP may involve disagreements between the parties, including potential disagreements over costs of and responsibility for delays and other construction related matters;
- components of our Monarch Casino Black Hawk construction project will be outside the scope of any GMP contract;
- risks related to development and construction activities (including disputes with and defaults by contractors and subcontractors; construction, equipment or staffing problems and delays; shortages of materials or skilled labor; environmental, health and safety issues; weather and other hazards, site access matters, and unanticipated cost increases);
- the cost, distraction and delays caused by litigation;
- the effects of local and national economic, credit and capital market conditions on the economy in general and on the gaming industry and our business in particular;
- guest acceptance of our expanded facilities once completed and the resulting impact on our market position, growth and future financial results; and
- competition in our target market areas.
Additional information concerning potential factors that could adversely affect all forward-looking statements, including the Company's financial results, is included in our Securities and Exchange Commission filings, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on our website at www.monarchcasino.com.
About Monarch Casino & Resort, Inc.
Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Casino Black Hawk in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information on Monarch, visit Monarch's website at www.monarchcasino.com.
Black Hawk Casino News
The Atlantis features approximately 61,000 square feet of casino space; 824 guest rooms; eight food outlets; two espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed year-round pool; two retail outlets offering clothing and traditional gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting room space. The casino features approximately 1,450 slot and video poker machines; approximately 38 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room.
The Monarch Casino Black Hawk features approximately 30,000 square feet of casino space; approximately 740 slot machines; 14 table games; a 250-seat buffet-style restaurant; a snack bar and a new nine-story parking structure with approximately 1,350 spaces, plus additional existing valet parking bringing total parking capacity to 1,500 spaces. Once completed, the Monarch Casino Resort Spa Black Hawk will nearly double the casino space and will add a 23-story hotel tower with approximately 500 guest rooms and suites, an upscale spa and pool facility, three restaurants (bringing the total to four restaurants), additional bars, and associated support facilities.
Contacts:
David Farahi
Chief Operating Officer
775/825-4700 or dfarahi@monarchcasino.com
Joseph Jaffoni, Richard Land, James Leahy
JCIR
212/835-8500 or mcri@jcir.com
We are your complete source for information on Black Hawk casinos, hotels and lodging, history, tours, transportation casino maps, photos, dining, bed and breakfasts and more.. To get started select the casino of your choice from the Black Hawk casino map, use the menu above or view all casinos in Black Hawk. Our site covers your entire trip to Black Hawk – from your hotel to the casinos and games. We have the information you'll need right here.
The Colorado cities of Black Hawk, Central City, and Cripple Creek started permitting legal gambling in 1991. While Black Hawk is now famous for its exciting casinos and gambling saloons, the town is rich in gold mining history, too. Here is a short video history of Black Hawk and some links to other sites with historic information regarding the City of Black Hawk.
Facts and rules for Black Hawk visitors and tourists:
Black Hawk is the largest gambling town you will find in Colorado and is home to 18 casinos, some operating 24 hours a day, seven days a week. Many of the casinos have hotels you can book online.
The legal gambling age in Colorado is 21 and the casinos in Black Hawk are really strict about this. Some casinos will allow your children in the dining areas and hotel areas, but as a general rule you won't be able to bring them on the gaming floor. Patron IDs are checked upon entering the casinos.
Once limited to $5 limited stakes gambling, Colorado voters raised the maximum bet in 2008 to a maximum bet of $100 on any single wager. Some slot machines have wagers as low as one penny. Click here for info on Black Hawk slots.
Black Hawk casinos have the following casino games: live blackjack, roulette, craps, and various forms of poker (including Texas Hold'em, Let it Ride, Omaha, 3 card and more). As for machine gaming, you'll find all the latest video slots, classic slots, and a wide variety of video poker terminals to choose from.
Black Hawk can really pack a party! But beware, Colorado DUI laws are strictly enforced here, so get a hotel for the night to properly enjoy the city. Other than that, come ready to gamble. A lot of casinos will comp your drinks if you're playing, or at the very least discount them. But be warned: if the casino thinks you're intoxicated, they'll cut you off from the bar.
Click here get started by seeing a list of casinos or view our guide containing information on Black Hawk's live poker tournaments. Visit this page to see the casino hotels available.
Poker in Black Hawk
Casino News Blackhawk Colorado Lodging
Tournament poker and cash games featuring Omaha and Hold'em are available within a few casinos, some having professional poker rooms with 20+ tables in each. Many of the smaller casinos have rooms or at least have Let it Ride and Three card poker available if tournaments are not.
Are Casinos In Blackhawk Open
The Ameristar Casino is a must-see. This casino has 22 poker tables in its poker room with some of the best action in town. But it's not the only place you want to check out. Golden Gates Casino has a beautiful poker room with about 20 tables also. The other heavy hitter in town is The Lodge Casino & Hotel also with over 20 tournament tables as well. For the complete poker and tournament breakdown please visit the Black Hawk Poker page.
Other things in and around Black Hawk
If you'd like a slightly slower pace and just a bit more history, make the trek to Central City (less than a mile away) while you are in Black Hawk. There are shuttle buses between the two towns. While there are some large casinos in Central City, the majority of the town is still in historic buildings and it's a very enjoyable place walk around.
Blackhawk Colorado Ski Resort
Black Hawk is enjoyable to walk through. There is always something new being built in town. Only a short distance from town and you are in the middle of the Rocky Mountains for hiking, sightseeing and much more. Highway 119 is known as the 'Peak-to-Peak Highway' and runs all the way to Rocky Mountain National Park with breath taking views the whole drive.
Black Hawk in summary and more Colorado gaming
The Casinos in Blackhawk, Colorado, are extraordinary! Where you thought they couldn't fit anything else, the operators have moved mountains and installed some of the most fantastic casinos anywhere. Casino operators go above and beyond to make you feel like a VIP here. Colorado gaming has grown a lot in the last 12 years and the casinos of Black Hawk have grown along with it. The Colorado Division of Gaming has multiple offices, there are nearly 40 casinos in the state of Colorado, gaming is now a 24-hour operation and bets can go as high as $100! Colorado also offers off-track betting, greyhound, and quarter horse tracks. (Arapahoe Park is one.) There is also a state lottery. So if you like gambling, Colorado has you covered.
