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4-Traders Homepage  >  Equities  >  Nasdaq  >  Monarch Casino & Resort, Inc.    MCRI

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Monarch Casino & Resort : PCL Construction Awarded Monarch Hotel and Casino Expansion in Black Hawk

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12/09/2016 | 02:10pm CET

Release date- 08122016 - Denver, CO - PCL Construction Services, Inc. has been awarded the Monarch Hotel and Casino Expansion in Black Hawk, Colorado.

The 23-story hotel tower will include five lower levels of casino gaming, restaurants, hotel administration and lounges. Levels six and higher will include hotel rooms and suites, and the top level will be an amenity deck with a spa, pools, and recreation space. Work includes a demolition of an existing parking structure to create the site for the new hotel tower in December.

Black Hawk, Colorado, is home to the state's largest number of casinos. This will be PCL's fourth hotel and casino in the area, including the Lodge Hotel and Casino, Black Hawk Casino by Hyatt, and the Gilpin Hotel Casino remodel. Reno-based Monarch Casino & Resort, Inc. bought what used to be the Riviera Black Hawk casino in 2012.

'We are proud to continue our relationship with Monarch Casino & Resort, and in the process adding needed hotel capacity to the town of Black Hawk,' said Mike Harms, Denver's vice president and district manager. 'We've had several successful projects in Black Hawk and are eager to start this new project.'

The project commenced in November 2016 with a completion date in the 2nd quarter of 2019.

ABOUT PCL CONSTRUCTION

PCL is a group of independent construction companies that carries out work across the United States, Canada, the Caribbean, and in Australia. The Denver office has over 40 years' experience of building successful commercial, residential, hospitality, and educational facilities along with site infrastructure projects throughout Colorado. PCL's diverse operations in the civil infrastructure, heavy industrial, and buildings markets are supported by a strategic presence in 31 major centers with US Headquarters in Denver. Together, these companies have an annual construction volume of more than $7 billion, making PCL one of the largest contracting organizations in North America. Watch us build at PCL.com.

Contact:

Stephanie McCay

Manager

PCL Construction

Tel: (303)365-6428

Email: SMcCay@pcl.com

(c) 2016 Electronic News Publishing -, source ENP Newswire

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Financials ($)
Sales 2016 216 M
EBIT 2016 37,6 M
Net income 2016 23,6 M
Debt 2016 37,7 M
Yield 2016 -
P/E ratio 2016 17,62
P/E ratio 2017 16,92
EV / Sales 2016 2,07x
EV / Sales 2017 2,31x
Capitalization 410 M
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Number of Analysts 5
Average target price 29,0 $
Spread / Average Target 23%
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John Farahi Co-Chairman & Chief Executive Officer
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David-Jacques Farahi Chief Operating Officer
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