-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J3ScpRAwUvKjbX+Brs0DbIUlCK/H9T7uqxnLIEnj9ggeevQWSiidy1GAQVy4csiH umpGGyrniafYIW2hvR66Ow== 0000907242-06-000077.txt : 20060929 0000907242-06-000077.hdr.sgml : 20060929 20060929142007 ACCESSION NUMBER: 0000907242-06-000077 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060928 ITEM INFORMATION: Other Events FILED AS OF DATE: 20060929 DATE AS OF CHANGE: 20060929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONARCH CASINO & RESORT INC CENTRAL INDEX KEY: 0000907242 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 880300760 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22088 FILM NUMBER: 061116768 BUSINESS ADDRESS: STREET 1: 3800 S VIRGINIA STREET STREET 2: EXECUTIVE OFFICES CITY: RENO STATE: NV ZIP: 89502 BUSINESS PHONE: 775-335-4600 MAIL ADDRESS: STREET 1: 3800 S VIRGINIA STREET STREET 2: EXECUTIVE OFFICES CITY: RENO STATE: NV ZIP: 89502 8-K 1 sharebuybackapproval.htm APPROVAL TO BUY BACK COMMON STOCK - SEPTEMBER 28, 2006 Approval to buy back common stock - September 28, 2006
MONARCH ANNOUNCES STOCK REPURCHASE PROGRAM
 
RENO, Nevada -- September 28, 2006 - Monarch Casino & Resort, Inc. (MCRI: Nasdaq) (the Company) announced today that its Board of Directors has authorized a program to repurchase shares of the Company’s common stock. The Board approved the repurchase of up to 1,000,000 shares of the Company’s common stock.
 
These repurchases will be made in open market or in privately negotiated transactions from time to time in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, subject to market conditions, applicable legal requirements and other factors. This plan does not obligate the Company to acquire any particular amount of common stock and the plan may be suspended at any time at the Company’s discretion.
 
Monarch’s CEO and Co-Chairman, John Farahi, stated that, “The Board and management are confident in the future of Monarch and in light of the state of our balance sheet believe this repurchase program to be an effective use of the Company’s growing cash balance.”
 
Monarch Casino & Resort, Inc., through its wholly-owned subsidiary, owns and operates the tropically-themed Atlantis Casino Resort Spa in Reno, Nevada (the “Atlantis”). The Atlantis is the closest hotel-casino to, and is directly across the street from, the Reno-Sparks Convention Center. The Atlantis is recognizable due to its Sky Terrace, a unique structure rising approximately 55 feet above street level and spanning 160 feet across Virginia Street with no intermediate support pillars. The Sky Terrace connects the Atlantis to a 16-acre parcel of land owned by the Company that is compliant with all casino zoning requirements and is suitable and available for future expansion or growth. Currently, the Company uses it as additional paved parking for the Atlantis. The existing Atlantis site offers almost 1,000 guest rooms in three contiguous high-rise hotel towers and a motor lodge. The tropically-themed Atlantis features approximately 51,000 square feet of high-energy casino space with 38 table games and approximately 1,450 slot and video poker machines, a sports book, Keno and a poker room, and offers a variety of dining choices in the form of nine high-quality food outlets.
 
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 which are subject to change. The actual results may differ materially from those described in any forward-looking statements. Additional information concerning potential factors that could affect the Company’s activities and financial results is included in the Company’s Securities and Exchange Commission filings, which are available on the Company's web site.
 

 
Contacts:
 
Ron Rowan, CFO at 775-825-4700 or RRowan@monarchcasino.com
 
John Farahi, CEO and Co-Chairman at 775-825-4700 or JohnFarahi@monarchcasino.com
 
For additional information visit Monarch’s website at monarchcasino.com
 
 -----END PRIVACY-ENHANCED MESSAGE-----