UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 24, 2002
MONARCH CASINO & RESORT, INC.
(Exact name of registrant as specified in its charter)
NEVADA 0-22088 88-0300760
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1175 W. Moana Lane, Suite 200
Reno, NEVADA 89509
(Address of Principal Executive Offices) (Zip Code)
(775)825-3355
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(Registrant's telephone number, including area code)
NOT APPLICABLE
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(Former name or former address, if changed since last report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a) Dismissal of previous independent accountants
(i) On May 24, 2002, Monarch Casino & Resort, Inc., or Monarch,
dismissed Arthur Andersen LLP, or Andersen, as its
independent public accountants. Monarch's Audit Committee
and Board of Directors participated in and approved the
decision to dismiss Andersen.
(ii) The reports of Andersen on the financial statements of
Monarch for the past two fiscal years contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or
accounting principle.
(iii) During the two most recent fiscal years and through May 24,
2002, there have been no disagreements between Monarch and
Andersen on any matter of accounting principles or
practices, financial statement disclosure, or auditing
scope or procedure, which disagreements, if not resolved to
the satisfaction of Andersen, would have caused Andersen to
make reference to the subject matter thereof in its report
on Monarch's financial statements for such periods.
(iv) During the two most recent fiscal years and through May 24,
2002, there have been no reportable events (as defined in
Item 304(a)(1)(v) of Regulation S-K).
(v) At the request of Monarch, Andersen furnished a letter
addressed to the SEC stating that it agrees with the above
statements. A copy of such letter, dated May 24, 2002, is
filed as Exhibit 16 to this Form 8-K.
(b) Engagement of new independent accountants.
(i) Monarch engaged Deloitte & Touche LLP as its new
independent accountants as of May 24, 2002. During the two
most recent fiscal years and through May 24, 2002, Monarch
has not consulted with Deloitte & Touche LLP regarding the
matters described in, and required to be disclosed pursuant
to, Item 304(a)(2)(i) or Item 304(a)(2)(ii) of Regulation
S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
16 (1) Arthur Andersen LLP Letter Dated May 24,
2002
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
MONARCH CASINO & RESORT, INC.
Date: May 24, 2002 By: /s/ Ben Farahi
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Name: Ben Farahi
Title: Chief Financial Officer,
Treasurer and Secretary
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