Monarch Casino & Resort Signs Material Agreement
Ticker: MCRI · Form: 8-K · Filed: Jan 3, 2025 · CIK: 907242
| Field | Detail |
|---|---|
| Company | Monarch Casino & Resort Inc (MCRI) |
| Form Type | 8-K |
| Filed Date | Jan 3, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $100.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-action
Related Tickers: MCRI
TL;DR
MCRI signed a big deal on Dec 31st, details TBD.
AI Summary
Monarch Casino & Resort, Inc. (MCRI) reported a material definitive agreement on December 31, 2024. The filing does not disclose specific details of the agreement, such as parties involved or financial terms, but indicates a significant event for the company.
Why It Matters
This filing indicates a significant business development for Monarch Casino & Resort, Inc., potentially impacting its future operations and financial standing.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material agreement.
Key Players & Entities
- Monarch Casino & Resort, Inc. (company) — Registrant
- December 31, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Reno (location) — Principal executive offices city
FAQ
What is the nature of the material definitive agreement entered into by Monarch Casino & Resort, Inc.?
The filing does not specify the nature of the material definitive agreement, only that one was entered into on December 31, 2024.
Who are the parties involved in this material definitive agreement?
The filing does not disclose the names of the other parties involved in the agreement.
What is the financial impact or value of this agreement?
The filing does not provide any financial details or the value associated with the material definitive agreement.
When was the material definitive agreement officially entered into?
The agreement was entered into on December 31, 2024.
Does this agreement represent an acquisition, merger, or other significant corporate action?
The filing does not specify the type of corporate action the agreement represents, only that it is a material definitive agreement.
Filing Stats: 703 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2025-01-03 16:14:47
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value MCRI The Nasdaq Stock Mar
- $100.0 million — ility amends and restates the Company's $100.0 million credit facility, dated as of February 1
Filing Documents
- mcri-20241231x8k.htm (8-K) — 33KB
- 0001558370-25-000019.txt ( ) — 148KB
- mcri-20241231.xsd (EX-101.SCH) — 3KB
- mcri-20241231_lab.xml (EX-101.LAB) — 15KB
- mcri-20241231_pre.xml (EX-101.PRE) — 10KB
- mcri-20241231x8k_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On December 31, 2024, Monarch Casino & Resort, Inc. (the "Company"), and certain of its subsidiaries, entered into the Sixth Amended and Restated Credit Agreement with Wells Fargo Bank, N.A., as administrative agent (the "Sixth Amended Credit Facility"). The Sixth Amended Credit Facility amends and restates the Company's $100.0 million credit facility, dated as of February 1, 2023 (filed as Exhibit 10.16 to the Company's Form 10-K filed on February 28, 2023) (the "Prior Facility"). The Sixth Amended Credit Facility extends the maturity date to January 1, 2028 and removes the lien on real property under the Prior Facility. Additionally, the interest rate under the Sixth Amended Credit Facility is either SOFR (the Secured Overnight Financing Rate) plus a margin of 1.25% or the Base Rate (as defined in the Sixth Amended Credit Facility) plus a margin of 0.25%. The Commitment Fee Percentage (as defined in the Sixth Amended Credit Facility) was revised to be 0.25% per annum, and the Sixth Amended Credit Facility provides that the Company is required to maintain a Total Leverage Ratio (as defined in the Sixth Amended Credit Facility) of no more than 1.50:1.00. The Company may use borrowings from the Sixth Amended Credit Facility to pay fees and expenses incurred in connection with the Sixth Amended Credit Facility, to refinance certain existing indebtedness, and to provide for working capital needs and for general corporate purposes. The Company's obligations under the Sixth Amended Credit Agreement are secured by substantially all of the Company's assets other than the real property released pursuant to the Sixth Amended Credit Facility. The Sixth Amended Credit Facility includes customary covenants and events of default. The foregoing summary of the Sixth Amended Credit Facility does not purport to be complete and is qualified in its entirety by reference to the Sixth Amended Credit Facility, copy of which wil
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 9 Monarch Casino and Resort, Inc. Date: January 3, 2025 /s/ Edwin S. Koenig Edwin S. Koenig, Chief Accounting Officer and Corporate Treasurer (Principal Financial and Accounting Officer and Duly Authorized Officer)