Monarch Expands Company
The Atlantis has been Monarch Casino & Resort Incs only asset for over three decades and while previous attempts to diversify inside and out of the market have failed, it was announced Monarch's latest attempt to diversify has been a success. It was announced on September 30, 2011 that John Farahi, CEO/Chairman of Monarch had completed the purchase of the Riviera Black Hawk Casino outside of Denver for $75 million from Riviera Holdings, a Las Vegas based company. Pending approval from shareholders, the sale is expected to close in Spring 2012. Farahi said no immediate investment will take place at the property after the purchase is completed.
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