Litigation Initiated Against Monarch Casino - Thursday 2nd of February 2006

RENO, Nevada – Monarch Casino & Resort, Inc. (Nasdaq: MCRI), owner of the Atlantis Casino Resort in Reno, Nevada, announced today that Kerzner International Limited, the owner of the Atlantis, Paradise Island, Bahamas, and an affiliate have initiated litigation against Monarch in the United States District Court, District of Nevada seeking the court's declaratory judgment prohibiting Monarch from using the name "Atlantis" in connection with offering casino services other than at Monarch's Atlantis Casino Resort in Reno, Nevada, and particularly prohibiting Monarch from using the "Atlantis" name in connection with casino services in Las Vegas, Nevada; injunctive relief enforcing the same; unspecified compensatory and punitive damages; and other relief.

Monarch believes this law suit to be entirely without merit, intends to defend against it vigorously, and holds legal and contractual rights which it believes will lead to its successful defense against the claims.

Monarch Casino & Resort, Inc., through its wholly-owned subsidiary, owns and operates the tropically-themed Atlantis Casino Resort in Reno, Nevada. 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 from 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 is compliant with all casino zoning requirements and is suitable and available for future expansion of the Atlantis facilities and is currently being used by the Company 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 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.

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