SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of breakout of expenses used by the CODM to monitor and assess the financial performance


	Nine Months Ended September 30,
		2025		2024
Net revenues	$	405,122	$	387,673
Operating Expenses
Labor expense		117,708		118,083
Cost of sales		33,167		33,233
Tax and license expense [a]		60,078		56,631
Other operating expense [b]		52,981		52,201
Depreciation and amortization		40,842		37,994
Other operating items, net [c]		1,956		931
Interest income, net		(1,283)		349
Income tax expense		21,225		19,693
Total expenses	$	326,674	$	319,115

Net income	$	78,448	$	68,558

[a] Tax and license includes gaming taxes and licenses, commerce taxes, use taxes and property taxes.

[b] Operating expenses includes expenses for casino, food and beverage, hotel, other, selling general and administrative expenses labor expense, cost of sales, tax and license expense.

[c] Other operating items, net includes construction litigation expenses, lobbying expenses, and (gain) loss on disposition of assets.

Schedule of property and Equipment, net

Property and equipment, net consists of the following (in thousands):


	September 30, 2025		December 31, 2024
Land	$	34,688	$	34,688
Land improvements		11,470		11,263
Buildings		474,462		474,469
Building improvements		139,541		122,059
Furniture and equipment		265,217		251,605
Construction in progress		11,831		17,722
Right of use assets		13,504		13,995
Leasehold improvements		4,498		4,498
		955,211		930,299
Less accumulated depreciation and amortization		(390,969)		(355,012)
Property and equipment, net	$	564,242	$	575,287

Schedule of property and equipment, estimated useful lives


Land improvements	15	-	40	years
Buildings	30	-	40	years
Building improvements	5	-	40	years
Leasehold improvements	5	-	40	years
Furniture	5	-	10	years
Equipment	3	-	20	years

MONARCH CASINO & RESORT INC 10-Q