Atlantis Reno / slot
First quarter net revenue and adjusted EBITDA growth of 4.
We expect the general contractor to provide us with the final phasing and opening dates for the expanded facilities in the second quarter of 2019.
In addition, we expect to complete the upgraded atlantis casino reno keno results in the existing casino in the fourth quarter of 2019, leading to a first full year of expanded operations in 2020.
We are building a first-class team which is preparing for the grand opening later this year.
Casino revenues declined 3.
The increase in hotel atlantis casino reno keno results is primarily due to an increase in ADR, article source attributable to the Safari group in January.
The decline in casino revenue is a result of an increase in promotional allowances primarily hotelrecognized at the stand alone selling price and recorded as casino contra revenue.
Casino operating expense as a percentage of casino revenue increased to 37.
Food and beverage operating expense as a percentage of food and beverage revenue increased to 79.
Hotel operating expense as a percentage of hotel revenue decreased to 36.
In addition, the Company expects to complete the upgraded amenities in the existing casino in the fourth atlantis casino reno keno results of 2019.
Monarch Casino Resorts anticipates receiving the final phasing and opening dates for the expanded facilities from the general contractor in the second quarter of 2019.
Actual results and future events and conditions may differ materially from those described in any forward-looking statements.
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.
For additional atlantis casino reno keno results on Monarch, visit Monarch's website at.
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 Black Hawk expansion will nearly double the casino space and will add a 23-story hotel tower with approximately 500 more info rooms and suites, an upscale spa and pool atlantis casino reno keno results, three restaurants bringing the total to four restaurantsadditional bars, and associated support facilities.
Adjusted EBITDA should not be construed as an alternative to operating income as determined in accordance with US Generally Accepted Accounting Principlesas an indicator of the Company's operating performance, as an alternative to cash flows from operating activities as determined in accordance with US GAAP or as a measure of liquidity.
This measure enables comparison of the Company's performance over multiple periods, as well as against the performance of other companies in our industry that report Adjusted EBITDA, although some companies do not calculate this measure in the same manner and, atlantis casino reno keno results, the measure as presented may not be comparable to similarly titled measures presented by other companies.
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