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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001140361-08-015475.txt : 20080623
<SEC-HEADER>0001140361-08-015475.hdr.sgml : 20080623
<ACCEPTANCE-DATETIME>20080620200147
ACCESSION NUMBER:		0001140361-08-015475
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080618
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20080623
DATE AS OF CHANGE:		20080620

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:		08910945

	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
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<FILENAME>form8k.htm
<DESCRIPTION>MONARCH CASINO &AMP; RESORT, INC. 8-K 6-18-2008
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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8-K</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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      South Virginia Street, Reno, Nevada</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></div>
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></div>
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</font></div>
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5.02<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On June
18, 2008, the Compensation Committee of the board of directors (the &#8220;Board&#8221;) of
Monarch Casino &amp; Resort, Inc. (&#8220;Monarch&#8221;) recommended to the Board that for
performance for the year ended December 31, 2007, John Farahi, Monarch
Co-Chairman of the Board and Chief Executive Officer, be awarded a cash bonus of
$175,000 and that Bob Farahi, Monarch Co-Chairman of the Board, Secretary and
President, be awarded a cash bonus of $50,000.&#160;&#160;The Board approved the
recommendation.&#160;&#160;As a result, the total compensation awarded for 2007
for John Farahi and Bob Farahi as disclosed in the summary compensation table in
Monarch&#8217;s Schedule 14A filed with the SEC on April 29, 2008, and proxy statement
distributed to Monarch stockholders in connection with the annual meeting held
on June 18, 2008, is increased to $1,301,014 (consisting of $415,389 in salary,
$710,625 in option awards and $175,000 in cash bonus) for John Farahi and
$562,615 (consisting of $249,232 in salary, $263,383 in option awards and
$50,000 in cash bonus) for Bob Farahi.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
8.01<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Other
Events.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
previously reported, on September 28, 2006 the Board approved a stock repurchase
plan (the &#8220;Repurchase Plan&#8221;) and authorized the repurchase of up to 1 million
shares of Monarch&#8217;s common stock in the open market or in privately negotiated
transactions from time to time, in compliance with Rule 10b-18 of the Securities
and Exchange Act of 1934, subject to market conditions, applicable legal
requirements and other factors.&#160;&#160;Also as previously reported, on March
11, 2008, the Board increased the initial authorization by 1 million shares and
on April 22, 2008, the Board increased the authorization by another 1 million
shares, which increased the shares authorized to be repurchased to a total of 3
million shares.&#160;&#160;On June 19, 2008 Monarch completed the repurchase of
3 million shares under the Repurchase Plan at a weighted average purchase price
of $16.52.&#160;&#160;Through June 19, 2008, Monarch drew $31.5 million dollars
from its $50 million credit facility to pay for the share repurchases and to
fund ongoing capital projects.</font></div><br>
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</font></div>
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</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
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          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Monarch
      Casino and Resort, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      June 20, 2008</font></div>
            </td>
            <td valign="top" width="50%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Ronald Rowan</font></td>
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            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Ronald
      Rowan</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Financial Officer and Treasurer</font></div>
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