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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000907242-06-000077.txt : 20060929
<SEC-HEADER>0000907242-06-000077.hdr.sgml : 20060929
<ACCEPTANCE-DATETIME>20060929142007
ACCESSION NUMBER:		0000907242-06-000077
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060928
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20060929
DATE AS OF CHANGE:		20060929

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONARCH CASINO & RESORT INC
		CENTRAL INDEX KEY:			0000907242
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				880300760
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22088
		FILM NUMBER:		061116768

	BUSINESS ADDRESS:	
		STREET 1:		3800 S VIRGINIA STREET
		STREET 2:		EXECUTIVE OFFICES
		CITY:			RENO
		STATE:			NV
		ZIP:			89502
		BUSINESS PHONE:		775-335-4600

	MAIL ADDRESS:	
		STREET 1:		3800 S VIRGINIA STREET
		STREET 2:		EXECUTIVE OFFICES
		CITY:			RENO
		STATE:			NV
		ZIP:			89502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>sharebuybackapproval.htm
<DESCRIPTION>APPROVAL TO BUY BACK COMMON STOCK - SEPTEMBER 28, 2006
<TEXT>
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  <head>
    <title>
      Approval to buy back common stock - September 28, 2006
</title>
<!-- Licensed to: Monarch Casino Resort-->
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  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>MONARCH
      ANNOUNCES STOCK REPURCHASE PROGRAM</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">RENO,
      Nevada -- September 28, 2006 - Monarch Casino &amp; Resort, Inc. (MCRI: Nasdaq)
      (the Company) announced today that its Board of Directors has authorized a
      program to repurchase shares of the Company&#8217;s common stock. The Board approved
      the repurchase of up to 1,000,000 shares of the Company&#8217;s common
      stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
      repurchases will be made in open market or in privately negotiated transactions
      from time to time in compliance with Rule 10b-18 of the Securities Exchange
      Act
      of 1934, subject to market conditions, applicable legal requirements and other
      factors. This plan does not obligate the Company to acquire any particular
      amount of common stock and the plan may be suspended at any time at the
      Company&#8217;s discretion.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Monarch&#8217;s
      CEO and Co-Chairman, John Farahi, stated that, &#8220;The Board and management are
      confident in the future of Monarch and in light of the state of our balance
      sheet believe this repurchase program to be an effective use of the Company&#8217;s
      growing cash balance.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Monarch
      Casino &amp; Resort, Inc., through its wholly-owned subsidiary, owns and
      operates the tropically-themed Atlantis Casino Resort Spa in Reno, Nevada (the
      &#8220;Atlantis&#8221;). The Atlantis is the closest hotel-casino to, and is directly across
      the street from, the Reno-Sparks Convention Center. The Atlantis is recognizable
      due to its Sky Terrace, a unique structure rising approximately 55 feet above
      street level and spanning 160 feet across Virginia Street with no intermediate
      support pillars. The Sky Terrace connects the Atlantis to a 16-acre parcel
      of
      land owned by the Company that </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">is
      compliant with all casino zoning requirements and is suitable and available
      for
      future expansion or growth. C</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">urrently,
      the Company uses it as additional paved parking for the Atlantis. The existing
      Atlantis site offers almost 1,000 guest rooms in three contiguous high-rise
      hotel towers and a motor lodge. The tropically-themed Atlantis features
      approximately 51,000 square feet of high-energy casino space with 38 table
      games
      and approximately 1,450 slot and video poker </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">machines,
      a sports book, Keno and a poker room, and offers a variety of dining choices
      in
      the form of nine high-quality food outlets.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
      press release contains forward-looking statements within the meaning of Section
      21E of the Securities Exchange Act of 1934 which are subject to change. The
      actual results may differ materially from those described in any forward-looking
      statements. Additional information concerning potential factors that could
      affect the Company&#8217;s activities and financial results is included in the
      Company&#8217;s Securities and Exchange Commission filings, which are available on the
      Company's web site.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>Contacts</u></em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>:</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Ron
      Rowan, CFO at 775-825-4700 or </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>RRowan@monarchcasino.com</u></em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>John
      Farahi, CEO and Co-Chairman at 775-825-4700 or </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>JohnFarahi@monarchcasino.com</u></em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>For
      additional information visit Monarch&#8217;s website at
      monarchcasino.com</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  </body>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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