Casino News Blackhawk Colorado
RENO, Nev., Sept. 03, 2019 (GLOBE NEWSWIRE) -- Monarch Casino & Resort, Inc. (Nasdaq: MCRI) (“Monarch” or “the Company”) provided the following comment on disagreements with its general contractor in Black Hawk, PCL Construction Services, Inc. (“PCL”), which have resulted in PCL filing a preemptory lawsuit on August 30, 2019 against Monarch and its Colorado subsidiaries.
Jan 28, 2021 Casinos in Black Hawk and Central City will have to shut down blackjack, poker and other table games at 8 a.m. Friday when Gilpin County moves to a more restrictive COVID-19 status with the state. Black Hawk Police Reports, December 2020. On 12/1/20, Black Hawk officers responded to the Isle Casino Hotel on a report of 911 Investigation. On scene, a male was contacted that was currently. Nov 16, 2020 New restrictions. Two counties in Colorado are implementing restrictions on commercial casinos as a result of rising numbers of COVID-19 cases. Teller and Gilpin Counties, the two areas of the state with the most casinos, are taking mitigation steps that will make things difficult for gambling venues in the short term.
Monarch Comment
“Since engaging PCL as general contractor at Monarch Casino Black Hawk, we have worked tirelessly to move the construction project forward. While Monarch has been frustrated with PCL’s numerous construction delays and cost increases, we have remained focused on the transformation of Monarch Casino Black Hawk.
“Monarch believes that PCL’s lawsuit is principally an effort to deflect attention from their failures to deliver the completed project in a timely and cost appropriate manner. Unfortunately, we must now respond to PCL’s lawsuit with our affirmative defenses as well as counterclaims against PCL which will detail their numerous contract and performance breaches. That said, we will continue to work with PCL to complete our new Monarch Casino Resort Spa Black Hawk.
Colorado Casinos News
“Given this lawsuit, the increasingly adversarial tone of communication from PCL, and our understanding of recent discussions regarding project delivery, we now believe that our expansion project – the new Monarch Casino Resort Spa Black Hawk – including the expanded casino, restaurants and certain public areas – should be fully open in the first quarter of 2020. The remaining remodeling of some areas of the existing casino is expected to be completed in the second quarter of 2020.
“Our disappointment with the ongoing construction delays at the expanded Monarch Casino Black Hawk is palpable. Importantly, other than a delay of the finished project, the customer experience should not be impacted at the property, now or in the future. Given the terrific guest response to the property’s enhancements introduced to date, our entire team knows that the fully transformed Monarch Casino Resort Spa Black Hawk will be a game changer for this exciting and vibrant market. While PCL’s performance has delayed our opening from our earlier announced dates, it will only increase the excitement of our team to deliver Black Hawk’s best-in-class resort and hospitality destination for visitors from across the Denver metropolitan area.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements relating to (i) our plans, objectives, near- and long-term outlook, opportunities, expectations, growth prospects and future operations with respect to Monarch Casino Black Hawk and the regional market; (ii) our plans, construction, completion and opening timelines of upgraded, redesigned and/or expanded facilities at Monarch Casino Black Hawk; and (iii) our expectations regarding our future position in the market and the quality of service we provide to our guests. Actual results and future events and conditions may differ materially from those described in any forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, without limitation:
- construction factors, including delays, disruptions, increased costs of labor and materials, contractor disagreements, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters, building permit issues and other regulatory approvals or issues;
- we have not yet entered into a guaranteed maximum price (“GMP”) construction contract with our Monarch Casino Black Hawk general contractor and negotiation of the GMP may involve disagreements between the parties, including potential disagreements over costs of and responsibility for delays and other construction related matters;
- components of our Monarch Casino Black Hawk construction project will be outside the scope of any GMP contract;
- risks related to development and construction activities (including disputes with and defaults by contractors and subcontractors; construction, equipment or staffing problems and delays; shortages of materials or skilled labor; environmental, health and safety issues; weather and other hazards, site access matters, and unanticipated cost increases);
- the cost, distraction and delays caused by litigation;
- the effects of local and national economic, credit and capital market conditions on the economy in general and on the gaming industry and our business in particular;
- guest acceptance of our expanded facilities once completed and the resulting impact on our market position, growth and future financial results; and
- competition in our target market areas.
Additional information concerning potential factors that could adversely affect all forward-looking statements, including the Company's financial results, is included in our Securities and Exchange Commission filings, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on our website at www.monarchcasino.com.
About Monarch Casino & Resort, Inc.
Monarch Casino & Resort, Inc., through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel/casino facility in Reno, Nevada, and the Monarch Casino Black Hawk in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information on Monarch, visit Monarch's website at www.monarchcasino.com.
The Atlantis features approximately 61,000 square feet of casino space; 824 guest rooms; eight food outlets; two espresso and pastry bars; a 30,000 square-foot health spa and salon with an enclosed year-round pool; two retail outlets offering clothing and traditional gift shop merchandise; an 8,000 square-foot family entertainment center; and approximately 52,000 square feet of banquet, convention and meeting room space. The casino features approximately 1,450 slot and video poker machines; approximately 38 table games, including blackjack, craps, roulette, and others; a race and sports book; a 24-hour live keno lounge; and a poker room.
The Monarch Casino Black Hawk features approximately 30,000 square feet of casino space; approximately 740 slot machines; 14 table games; a 250-seat buffet-style restaurant; a snack bar and a new nine-story parking structure with approximately 1,350 spaces, plus additional existing valet parking bringing total parking capacity to 1,500 spaces. Once completed, the Monarch Casino Resort Spa Black Hawk will nearly double the casino space and will add a 23-story hotel tower with approximately 500 guest rooms and suites, an upscale spa and pool facility, three restaurants (bringing the total to four restaurants), additional bars, and associated support facilities.
Contacts:
David Farahi
Chief Operating Officer
775/825-4700 or dfarahi@monarchcasino.com
Joseph Jaffoni, Richard Land, James Leahy
Blackhawk Colorado Government
JCIR
212/835-8500 or mcri@jcir.com
New restrictions
Two counties in Colorado are implementing restrictions on commercial casinos as a result of rising numbers of COVID-19 cases. Teller and Gilpin Counties, the two areas of the state with the most casinos, are taking mitigation steps that will make things difficult for gambling venues in the short term.
seriously damaging to Teller County”
Officials in Teller County announced on Saturday that the region is going to the “Orange: High Risk” level of Colorado’s COVID-19 scale. As of 5pm local time on Monday, the state is requiring new restrictions to be put in place in the county, including the closing of all casinos. County officials labeled these new restrictions as “seriously damaging to Teller County” and believe that they are premature.
Gilpin County moved to “Level Yellow: Concern” on Friday. As a result, there will be no more table games permitted at the casinos in Central City and Black Hawk.
Teller County changes
As part of the new restrictions in Teller County, all casinos will be closed unless there is an exception granted by state health officials. As part of “Level Orange,” casinos are the only businesses that have to close. County commissioners want these gaming properties to remain open.
The Colorado Department of Public Health and Environment is considering the request to keep casinos open and will inform county officials of its decision by November 16. Table games have not been allowed at Cripple Creek casinos since the initial shutdown in March, despite the properties reopening on June 15.
Other new restrictions taking effect in the county include limits on different types of gatherings, as well as capacity reductions at restaurants and other commercial businesses. The state health department will monitor incidence rates in the county for a week or two before there is a reevaluation of these measures.
Curtailments in Gilpin County
A letter sent on Tuesday by the Colorado Department of Public Health to Gilpin County outlined that while incidence rates are in line with “Level Orange,” there will be a gradual introduction of restrictions found in “Level Yellow.”
concern about the impact of these curtailments on casino employees
These restrictions, which took effect on November 14, mean that casinos cannot offer any table games, will be limited to a maximum capacity of 100 people, and are prohibited from selling alcohol after 11pm. Video gaming machines such as slots will still be available at the casinos. Central City Mayor Jeremy Fey has expressed concern about the impact of these curtailments on casino employees.
Dealing with COVID-19
Casino News Blackhawk Colorado Lodging
Colorado has seen rising COVID-19 numbers in recent weeks. Its 14-day change in daily new cases is 118% and the average daily number of new cases has been 4,648 over the past week.
Other states are also restricting casinos as a result of rising COVID-19 cases. Michigan’s three commercial casinos are set to close for three weeks on Wednesday. There are curfews on the sale of beverages and food in New York and New Jersey casinos, while Massachusetts casinos have to close between 9:30pm and 5:30am daily.
Impact on Colorado casinos
These latest restrictions are a blow for casinos in Colorado. They originally had to shut down in mid-March before starting to reopen from June 15. Even after reopening, there were significant restrictions still in place. Many local communities rely on casino tax revenues, which have been hampered because of the shutdowns and restrictions.
On a positive note, voters in the state approved Amendment 77 on November 3. This gives residents in Cripple Creek, Central City, and Black Hawk the ability to decide for themselves if casinos could remove the $100 cap on table game bets. It also allows the gambling towns to add new game types to their casinos, such as baccarat.