Implosion at Monarch Casino Black Hawk sparks renaissance of historic gold mining town

Renowned implosion expert tapped to clear way for 23-story world-class resort

The second golden era of Black Hawk has begun, with the city and casinos making hundreds of millions of dollars in improvements to attract more visitors. On Wednesday, December 21, Monarch Casino Black Hawk will implode most of its old parking garage to clear space for a world-class 23-story hotel and spa as part of its $400 million dollar, four-diamond resort development plan. A small portion of the garage attached to the casino will be manually demolished at a later time, but the majority of the structure will be destroyed in the implosion.

Mark Loizeaux of Controlled Demolition, Inc. is overseeing the implosion. Loizeaux is a leading global expert in demolition whose family has been in the business more than six decades. Notable demolition projects they’ve managed include the iconic Dunes Casino and the Landmark Tower in Las Vegas. Loizeaux is available for interviews before and after the implosion.

Special precautions are being taken to ensure nearby Clear Creek will be protected. The creek will be covered to limit the amount of dust and debris that could travel from the implosion site. Chris Formanek of Colorado Cleanup Corporation is managing this part of the project.

The demolition is closed to the public, but people will be able to watch the event live on multiple local media outlets, as well as a Facebook Live event on Monarch Casino Black Hawk’s Facebook page.

Monarch Casino Black Hawk is auctioning off the ceremonial button push to begin the implosion. The auction will be held on the Monarch Casino Black Hawk Facebook page Tuesday, December 20th from 11a.m. to 1 p.m. with proceeds from the highest bid benefiting the Gilpin County Food Bank.

Implosion Details:

WHEN:     Wednesday, December 21, 2016 at 8:30 a.m. (MEDIA MUST BE IN PLACE BY 7:30 a.m.)

WHERE:     Corner of Mill St. and Hwy 119

WHO:    

  • David Farahi, COO, Monarch Casino Black Hawk - addressing Monarch plans for world class spa and resort
  • Mark Loizeaux, President, Controlled Demolition, Inc. - addressing implosion questions
  • Matt Meunier, PCL Construction - addressing hotel construction plans
  • Chris Formanek, Colorado Cleanup Corporation - addressing demolition clean up and protection of Clear Creek
  • David D. Spellman, Black Hawk Mayor - addressing Black Hawk renaissance
  • Linda Isenhart, Gilpin County Commissioner - addressing needs of Gilpin County Food Bank

Additional Details:

  • 4:00 a.m.     Main Street closes
  • 7:30 a.m.     Highway 119 north closes through Black Hawk
  • 8:15 a.m.     Highway 119 south closes in demolition area
  • 8:45 a.m.     Highway 119 north and south are reopened
  • 9:00 a.m.    Drone video made available to news outlets
  • 9:30 a.m.    Casino and Deli reopen
  • 11:00 a.m.    New parking garage reopens. Buffet reopens with Chef’s Special “Colorado Demolition Hash” (Roasted potatoes with tomatoes, onions and pork sausage topped with eggs cooked sunny side up and smothered in tomatillo salsa)

 

Video elements including: hotel renderings, historical photos, Gilpin County Food Bank photos and more are stored in Dropbox and will be made available to the media on Monday, December 19.

 

Forward-Looking Statements

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, including, but not limited to, comments relating to (i) future operating performance; (ii) economic and market conditions and outlooks; (iii) plans, objectives and expectations regarding Monarch Black Hawk; and (iv) plans, costs, financing, construction, completion and opening timelines of redesigned and expanded facilities at Monarch Black Hawk. Actual results and future events and conditions may differ materially from those described in any forward-looking statements. With respect to the Monarch Black Hawk redesign and expansion projects, 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, increased costs of labor and materials, availability of labor and materials, zoning issues, environmental restrictions, soil and water conditions, weather and other hazards, site access matters and building permit issues;

  • Access to available and reasonable financing on a timely basis, including the ability of the Company to restructure its credit facility on acceptable terms;

  • Changes in laws and regulations permitting expanded and other forms of gaming in our key markets; and

  • The effects of local and national economic, credit and capital market conditions on the economy, in general, and on the gaming industry, in particular.

Additional information concerning potential factors that could affect all forward looking statements, including the Company's financial results is included in the Company's Securities and Exchange Commission filings, which are available on the Company's website at www.MonarchCasino.com.

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About Monarch Casino Resort Spa

Monarch Casino & Resort, Inc. acquired the Monarch Casino Black Hawk, the first casino encountered by visitors arriving from Denver on Highway 119, in April 2012. The property features approximately 32,000 square feet of casino space, approximately 700 slot machines, 14 table games, a 250 seat buffet-style restaurant, a snack bar and a parking structure with approximately 1,350 spaces. Once completed, the Monarch Casino Resort Spa expansion 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, four restaurants (bringing the total to five restaurants), additional bars, a new parking structure and associated support facilities.


About Monarch Casino & Resort, Inc.

Monarch Casino & Resort, Inc. (NASDAQ: MCRI), was incorporated in 1993 and through its wholly-owned subsidiaries, owns and operates the four diamond Atlantis Casino Resort Spa in Reno, Nevada, and the Monarch Casino Black Hawk (formerly the Riviera Black Hawk Casino) in Black Hawk, Colorado, approximately 40 miles west of Denver. For additional information, visit MonarchCasino.com.

Monarch Casino Resort Spa
488 Main Street
Black Hawk, CO 80422