BLI Rejects Monarch Offer to Purchase Shopping Center
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
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):
October 16, 2006
 
Monarch Casino & Resort, Inc.
(Exact name of registrant as specified in its charter)

 
Nevada
 
0-22088
 
88-0300760
 
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)

 
3800 South Virginia Street, Reno, Nevada
 
89502
(Address of principal executive offices)
(Zip Code)
   
Registrant’s telephone number, including area code:
(775) 335-4600
 
Not applicable.
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 
 

Item 8.01 Other Events.

On July 26, 2006, Monarch Casino & Resort, Inc. (the “Company”) made a formal offer to purchase the 18.95 acre shopping center (the “Shopping Center”) located adjacent to its Atlantis Casino Resort Spa. The Shopping Center is owned by Biggest Little Investments L.P. (“BLI”). The Company’s offer was formulated and delivered by the Company’s Committee of the Independent Directors. This event was previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC on July 27, 2006.

On October 16, 2006, the Committee of the Independent Directors received a letter from counsel to BLI advising the Company that BLI, through its general partner, Maxum, L.L.C., had “decided that such offer is not in the best interest of the Partnership’s limited partners and, therefore, will not be entering into negotiations with Monarch.”

The Committee of the Independent Directors will consider this response and determine what action, if any should be taken.


 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
Monarch Casino and Resort, Inc.
 
(Registrant)
   
Date:  October 18, 2006
 
  
 
 
/s/ John Farahi
 
John Farahi
Co-Chairman of the Board, Chief Executive Officer and Chief Operating Officer