| Nevada                                                                                       | 88-0300760               |
|----------------------------------------------------------------------------------------------|--------------------------|
| (State      or Other Jurisdiction of                                                         | (I.R.S.      Employer    |
| Incorporation      or Organization)                                                          | Identification      No.) |
|                                                                                         |                     |
| 3800      S. Virginia Street                                                                 |                     |
| Reno,      Nevada                                                                            | 89502                    |
| (Address      of Principal Executive Offices)                                                | (ZIP      Code)          |
|                                                                                         |                     |
|                                                                                         |
| (Former      Name, Former Address and Former Fiscal Year, if Changed Since Last      Report) |

|                | 2007   | 2006   |
|---------------------|--------|--------|
| High                | Low    | High   | Low |
| First      quarter  | $27.32 | $23.18 | $29.85 | $22.44 |
| Second      quarter | $28.93 | $24.59 | $32.97 | $25.14 |
| Third      quarter  | $31.20 | $22.00 | $28.50 | $17.50 |
| Fourth      quarter | $31.39 | $23.50 | $25.74 | $19.45 |

|                                            |                 |               | (c)                      | (d)                      |
|-------------------------------------------------|----------------------|--------------------|--------------------------|--------------------------|
|                                            |                 |               | Total      number of     | Maximum      number of   |
|                                            | (a)                  | (b)                | shares      purchased as | shares      that may yet |
|                                            | Total      number of | Average      price | part      of publicly    | be      purchased under  |
| Period                                          | shares purchased     | paid per share     | announced plans          | the plans                |
| October      1, 2007 through October 31, 2007   | -                    | -                  | -                        | -                        |
| November      1, 2007 through November 30, 2007 | -                    | -                  | -                        | -                        |
| December      3, 2007 through December 31, 2007 | 523,396(1)           | $25.03             | 523,396                  | 444,492                  |
|                                            |                 |               |                     |                     |
|                                            |                 |               |                     |                     |

|   | 32.1 | Certification      pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section      906 of the Sarbanes-Oxley Act of2002. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

| 32.2                                      | Certification      pursuant to 18 U.S.C. Section 1350, as adopted      pursuant to |
|------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------|

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| 1.   | I      have reviewed this annual report on Form 10-K/A of Monarch Casino &      Resort, Inc. a Nevada Corporation; |
|----------------|------------------------------------------------------------------------------------------------------------------------|

| 2.   | Based      on my knowledge, this report does not contain any untrue statement of a      material fact or omit to state a material fact necessary to make the      statements made, in light of the circumstances under which such statements      were made, not misleading with respect to the period covered by this      report; |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Based      on my knowledge, the financial statements, and other financial information      included in this report, fairly present in all material respects the      financial condition, results of operations and cash flows of the      registrant as of, and for, the periods presented in this      report; |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The      registrant’s other certifying officer and I are responsible for      establishing and maintaining disclosure controls and procedures (as      defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal      control over financial reporting (as defined in Exchange Act Rules      13a-15(f) and 15d-15(f), for the registrant and  have: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | Designed      such disclosure controls and procedures, or caused such disclosure      controls and procedures to be designed under our supervision, to ensure      that material information relating to the registrant, including its      consolidated subsidiaries, is made known to us by others within those      entities, particularly during the period in which this report is being      prepared; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Designed      such internal control over financial reporting, or caused such internal      control over financial reporting to be designed under our supervision, to      provide reasonable assurance regarding the reliability of financial      reporting and the preparation of financial statements for external      purposes in accordance with generally accepted accounting      principles; |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c.   | Evaluated      the effectiveness of the registrant’s disclosure controls and procedures      and presented in this report our conclusions about the effectiveness of      the disclosure controls and procedures, as of the end of the period      covered by this report based on such evaluation;  and |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d.   | Disclosed      in this report any change in the registrant’s internal control over      financial reporting that occurred during the registrant’s most recent      fiscal quarter that has materially affected or is reasonably likely to      materially affect the registrant’s internal control over financial      reporting; and |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | The      registrant’s other certifying officer and I have disclosed, based on our      most recent evaluation of internal control over financial reporting, to      the registrant’s auditors and the audit committee of the registrant’s      board of directors (or persons performing the equivalent      functions): |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | All      significant deficiencies and material weaknesses in the design or      operation of internal control over financial reporting which are      reasonably likely to adversely affect the registrant’s ability to record,      process, summarize and report financial information;  and |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Any      fraud, whether or not material, that involves management or other      employees who have a significant role in the registrant’s internal      controls over financial reporting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 1.   | I      have reviewed this annual report on Form 10-K/A of Monarch Casino &      Resort, Inc. a Nevada Corporation; |
|----------------|------------------------------------------------------------------------------------------------------------------------|

| 2.   | Based      on my knowledge, this report does not contain any untrue statement of a      material fact or omit to state a material fact necessary to make the      statements made, in light of the circumstances under which such statements      were made, not misleading with respect to the period covered by this      report; |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Based      on my knowledge, the financial statements, and other financial information      included in this report, fairly present in all material respects the      financial condition, results of operations and cash flows of the      registrant as of, and for, the periods presented in this      report; |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The      registrant’s other certifying officer and I are responsible for      establishing and maintaining disclosure controls and procedures (as      defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal      control over financial reporting (as defined in Exchange Act Rules      13a-15(f) and 15d-15(f), for the registrant and  have: |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | Designed      such disclosure controls and procedures, or caused such disclosure      controls and procedures to be designed under our supervision, to ensure      that material information relating to the registrant, including its      consolidated subsidiaries, is made known to us by others within those      entities, particularly during the period in which this report is being      prepared; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Designed      such internal control over financial reporting, or caused such internal      control over financial reporting to be designed under our supervision, to      provide reasonable assurance regarding the reliability of financial      reporting and the preparation of financial statements for external      purposes in accordance with generally accepted accounting      principles; |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c.   | Evaluated      the effectiveness of the registrant’s disclosure controls and procedures      and presented in this report our conclusions about the effectiveness of      the disclosure controls and procedures, as of the end of the period      covered by this report based on such evaluation;  and |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d.   | Disclosed      in this report any change in the registrant’s internal control over      financial reporting that occurred during the registrant’s most recent      fiscal quarter that has materially affected or is reasonably likely to      materially affect the registrant’s internal control over financial      reporting; and |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | The      registrant’s other certifying officer and I have disclosed, based on our      most recent evaluation of internal control over financial reporting, to      the registrant’s auditors and the audit committee of the registrant’s      board of directors (or persons performing the equivalent      functions): |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| a.   | All      significant deficiencies and material weaknesses in the design or      operation of internal control over financial reporting which are      reasonably likely to adversely affect the registrant’s ability to record,      process, summarize and report financial information;  and |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | Any      fraud, whether or not material, that involves management or other      employees who have a significant role in the registrant’s internal      controls over financial reporting. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 1.   | The      Annual Report on Form 10-K/A of the Company for the annual period ended      December 31, 2007 (the “Report”) fully complies with the requirements of      Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m);      and |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | The      information contained in the Report fairly presents, in all material      respects, the financial condition and results of operations of the      Company. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 3.   | The      Annual Report on Form 10-K/A of the Company for the annual period ended      December 31, 2007 (the “Report”) fully complies with the requirements of      Section 13(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78m);      and |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The      information contained in the Report fairly presents, in all material      respects, the financial condition and results of operations of the      Company. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|