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Atlantis Casino Resort Spa

Hotel and casino in Nevada, United States

The Atlantis Casino Resort Spa (formerly Golden Road Motor Inn, Travelodge, Quality Inn and Clarion) is a hotel and casino located in Reno, Nevada, United States. It is owned and operated by Monarch Casino & Resort, Inc.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1972Founded1

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  • TickerMCRI on Nasdaq1
  • IndustryHotels & Motels1
  • HeadquartersNV1
  • Websitewww.atlantiscasino.com
  • Incorporated inNV4
  • Business address3800 S Virginia Street, Executive Offices, Reno, Nv 895024
  • Filer categoryLarge accelerated filer4
Atlantiscasino
Photo: Lvtalon at English Wikipedia, Public domain, via Wikimedia Commons6

The Atlantis Casino Resort Spa (formerly Golden Road Motor Inn, Travelodge, Quality Inn and Clarion) is a hotel and casino located in Reno, Nevada, United States. It is owned and operated by Monarch Casino & Resort, Inc. Its three hotel towers have a combined 824 guest rooms and suites. The casino floor spans 64,814 sq ft. Often known simply as "Atlantis," it is one of Reno's most profitable properties, competing directly with other non-downtown resorts such as Peppermill Hotel Casino and Grand Sierra Resort for customers. Nearly $150 million has been spent on upgrading the facility.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.4%Gross margin7
18.6%Net margin7
4.4%Revenue growth, 20257
18.9%Return on equity7
$128.4MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Casino brought in 58% of the revenue Atlantis Casino Resort Spa broke down this way in fiscal 2025.

  1. Casino$313.8M758%up 7% from 2024
  2. Food and Beverage$130.2M724%up 2% from 2024
  3. Occupancy$76.2M714%down 0% from 2024
  4. Hotel, Other$24.9M75%up 2% from 2024
Products and services by year
Products and services202320242025
Casino$282.3M$293.8M$313.8M
Food and Beverage$126.6M$127.5M$130.2M
Occupancy$71.0M$76.4M$76.2M
Hotel, Other$21.6M$24.5M$24.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin20¢$109.4M
  • Other costs56¢$306.3M
  • Income tax5¢$28.0M
  • Profit19¢$101.4M

Out of $545.1M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending22¢$36.3M
  • Dividends paid13¢$21.9M
  • Share buybacks44¢$72.7M
  • Kept or used elsewhere21¢$33.8M

Out of $164.7M of cash from operations.7

Financial statements

Revenue8910117$545.1M in 2025+119% since 2019
0$200.0M$400.0M$600.0M2019: $249.2M$249.2M20192020: $184.4M$184.4M2020−26%2021: $395.4M$395.4M2021+114%2022: $477.9M$477.9M2022+21%2023: $501.5M$501.5M2023+5%2024: $522.2M$522.2M2024+4%2025: $545.1M$545.1M2025+4%
Gross profit12910117$127.5M in 2025+222% since 2019
0$50.0M$100.0M$150.0M2019: $39.6M$39.6M20192020: $15.3M$15.3M2020−61%2021: $89.9M$89.9M2021+489%2022: $111.4M$111.4M2022+24%2023: $110.2M$110.2M2023−1%2024: $92.5M$92.5M2024−16%2025: $127.5M$127.5M2025+38%
Net income12910117$101.4M in 2025+219% since 2019
0$50.0M$100.0M$150.0M2019: $31.8M$31.8M20192020: $23.7M$23.7M2020−26%2021: $68.5M$68.5M2021+189%2022: $87.5M$87.5M2022+28%2023: $82.4M$82.4M2023−6%2024: $72.8M$72.8M2024−12%2025: $101.4M$101.4M2025+39%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-312023-12-31
Net revenues$545.1M$522.2M$501.5M
Selling, general and administrative$109.4M$108.3M$105.8M
Depreciation and amortization$54.0M$51.4M$47.3M
Other operating items, net$9.2M$28.7M$5.9M
Total operating expenses$417.6M$429.7M$391.3M
Income from operations$127.5M$92.5M$110.2M
Interest income (expense), net$1.9M-$104.0K-$1.6M
Income before income taxes$129.4M$92.4M$108.5M
Income tax expense-$28.0M-$19.6M-$26.1M
Net income$101.4M$72.8M$82.4M
Basic (in dollars per share)$5.55$3.91$4.28
Diluted (in dollars per share)$5.43$3.84$4.20
Basic (in shares)18.3M shares18.6M shares19.2M shares
Diluted (in shares)18.7M shares19.0M shares19.6M shares

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The story

Golden Road Motor Inn (1972–1979)

Prior to 1972, the present-day Atlantis was home to the Golden Road Motor Inn, a 142-room motel. In that year, the property was purchased by the Farahi family. The purchase included with it a restaurant on the site known as the Copper Kettle.

Travelodge (1979–1986)

Shortly after the purchase, a franchise agreement was signed with Travelodge.

Quality Inn (1986–1991)

In the late 1980s, a deal was struck with Choice Hotels. As a result, the hotel was renamed Quality Inn and the restaurant became the Purple Parrot.

Clarion (1991–1996)

In 1991, the hotel was renamed again; under the Choice Hotels lease agreement, they branded the hotel as a Clarion and through the Farahis, constructed a 12-story hotel tower that opened in 1991. The Farahis pledged it would be the first of many expansions to come. Clarion Reno had a tropical theme and when the first tower was built it added more casino and restaurant space.

In 1993, Monarch Casino & Resort, Inc, the Farahis' corporate firm, took over financial responsibility for the Clarion. With this came a public offering on the New York Stock Exchange. With the additional capital from the public offering, Clarion began its second major expansion, which included a second 18-story hotel tower with an additional 400+ rooms, more gaming space and another restaurant, a buffet.

Atlantis (1996–present)

Desiring to have an independent identity, in 1996, the Monarch Casino & Resort, Inc. Board of Directors made the decision to rename the resort Atlantis. With the new name came plans for yet another expansion. The phase III expansion included a third 27-story hotel tower with close to 650 rooms, an expanded casino, three new restaurants, and the addition of a 40,000 sq ft (3,700 m2) entertainment facility. Additionally, the expansion plans called for a "sky terrace" over Virginia Street that would be anchored by two Greco-Roman columns topped with flame shows that would be hourly. Ground was broken in June 1998, with completion just over a year later, in July 1999. The Sky Terrace opened first, before the new hotel tower and casino expansion. The latest expansion cost $60 million to construct, the most expensive and largest to date in the resort's history, and it redefined the resort entirely.

In 2002, Atlantis remodeled its original tower, built back in 1990, and renamed it the "Royal Dolphin Tower." Its rooms were furnished with mahogany accents and warm color tones. There was an extra per night charge for these rooms. The second tower, built in 1994, was remodeled in 2004 with similar furnishings. In 2005 the tower was renamed "Atrium Tower", because of the lobby atrium behind its signature glass elevators.

Since July 2021, the first two towers' (Royal Dolphin, Atrium) rooms are now sold as "Atlantis Tower" and offer the lowest rack rates. The "Luxury" tower rooms are located on floors 3-20 of the newest of the towers. Atlantis has two floors of exclusive VIP suites, which sit on the 26th and 27th floors of Atlantis' third tower and are not available to regular guests unless booked through a party. Atlantis is home to the region's only Concierge Tower, with a concierge lounge on the 25th floor. Atlantis kept in operation its two-story Motor Lodge rooms that was part of the original Golden Road/Travelodge/Quality Inn but closed it down on October 16, 2010, and demolished in the weeks following.

Read the full text

In 2003, Atlantis built a 3,000 sq ft (280 m2) spa and added "spa" under "Resort-Casino" below Atlantis' signature logo. That spa was expanded to 30,000 sq ft (2,800 m2) during the most recent expansion that was completed in January 2009. To match its new "Spa Atlantis" the hotel sequestered a set of rooms on the 3rd floor to be designated as "Spa Rooms" with yoga mats, soothing color tones, yoga channel and specialized bath products.

All rooms in Atlantis' Concierge/Luxury Tower have been completely remodeled; rooms in the Atlantis tower(s) are being updated with modern technology to match the newly remodeled Luxury/Concierge Towers.

From Wikipedia’s article on Atlantis Casino Resort Spa, shared under CC BY-SA 4.0.5

Timeline

  1. Aug 10, 1993Went public Listed on NASDAQ1
  2. 1972Founded Founded1

Recent filings

  1. Sep 21, 20264 PRIMARY DOCUMENT
  2. Sep 16, 2026144
  3. Jul 28, 202610-Q
  4. Jul 21, 20268-K
  5. Jul 7, 20264 PRIMARY DOCUMENT
  6. Jul 6, 20264 PRIMARY DOCUMENT
  7. Jul 6, 20264 PRIMARY DOCUMENT
  8. Jul 2, 20264 PRIMARY DOCUMENT
  9. May 29, 20268-K
  10. May 29, 20264 PRIMARY DOCUMENT
  11. May 28, 2026144
  12. Apr 30, 202610-Q
  13. Apr 30, 20264 PRIMARY DOCUMENT
  14. Apr 24, 20264 PRIMARY DOCUMENT
  15. Apr 22, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2