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Monarch Casino & Resort , Inc. (NASDAQ:MCRI) announced the outcomes of its Annual Meeting of Stockholders held on Thursday, June 6, 2025. The company reported a strong turnout with 88.1% of the outstanding shares represented at the meeting.
During the meeting, two key proposals were put to vote. The first proposal involved the election of two directors to the board. Bob Farahi and Yvette E. Landau were elected to serve as directors until the 2027 annual meeting or until their successors are appointed. Farahi received 12,153,534 votes for, 4,106,241 against, and 683 abstentions. Landau was elected with 13,126,260 votes for, 3,133,503 against, and 695 abstentions. There were no broker non-votes for either candidate.
The second proposal was a non-binding advisory vote on the executive compensation for the company’s named executive officers as disclosed in the 2024 proxy statement. The compensation was approved with 15,203,699 votes for, 901,929 against, and 154,830 abstentions. This proposal also did not have any broker non-votes.
The company’s press release confirms that the stockholders’ decisions on both proposals were made with a significant majority. The election of the directors and the approval of executive compensation reflect the stockholders’ support for the company’s leadership and compensation policies.
This information is based on the 8-K filing by Monarch Casino & Resort , Inc. with the Securities and Exchange Commission.
In other recent news, Monarch Casino & Resort reported first-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $1.05 compared to the forecasted $0.99. The company’s revenue rose by 3.1% year-over-year, totaling $125.4 million and surpassing the anticipated $123.1 million. Net income also saw an increase of 8.7%, reaching $19.9 million, while adjusted EBITDA grew by 6.7% to $41.1 million. Despite these strong results, Stifel analysts adjusted their outlook on Monarch Casino (EPA:CASP), reducing the stock price target from $90.00 to $81.00, though maintaining a Hold rating. This adjustment followed the company’s first-quarter performance and considered factors like labor efficiencies and market share gains, alongside challenges such as hotel room renovations and pricing pressures. Stifel noted the company’s stable balance sheet and market-leading assets as strengths amid macroeconomic uncertainties. Monarch Casino also declared a quarterly cash dividend of $0.30 per share, with plans to continue investing in its properties. The company ended the quarter with $75.1 million in cash and no borrowings, positioning it well for future opportunities.
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