Monarch Casino & Resort Inc., owners of the Atlantis Casino Resort Spa in Reno, Nevada, announced a 5 million expansion at Monarch Casino Black Hawk in Colorado. Expected to be completed by late 2017, the project will include a new30-story, 500-room hotel, three restaurants, a parking structure and a gaming floor twice the size of the current one.
Monarch Co-Chairman/Chief Executive Officer John Farahi said, “We believe that adding new hotel rooms and other resort amenities will address pent-up demand, particularly with higher end players, expand the overall Black Hawk gaming market and be a substantial driver of Monarch Black Hawk’s future financial performance.”
Farahi said the company’s 824-room Atlantis resort is “favorably positioned” to benefit from the greater Reno area’s ongoing economic rebound, in particular Tesla Motor’s coming $5 billion battery gigafactory. Farahi stated, “Throughout the year, Reno saw a number of significant developments that we believe have positioned the region’s economy for sustainable, long-term growth. We believe the city is in the midst of a major renaissance, led by Tesla’s decision to invest billions in the local economy. This marquee development has served to further highlight the significant economic and lifestyle benefits that Reno has to offer to businesses.”
