United States
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                  Form 10-K/A
(Amendment No.1)

(MARK ONE)

[X]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2005

                                      or

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______TO______

                         Commission File No. 0-22088

                        MONARCH CASINO & RESORT, INC.
            (Exact name of registrant as specified in its charter)
                          -------------------------

                NEVADA                                88-0300760
     (State or other jurisdiction                  (I.R.S. Employer
   of incorporation or organization)              Identification No.)

     1175 W. MOANA LANE, SUITE 200
             RENO, NEVADA                               89509
        (Address of principal                         (Zip code)
          executive offices)

     Registrant's telephone number, including area code:  (775) 825-3355
                          -------------------------

         SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

                                                Name of each exchange
         Title of each class                     on which registered
         -------------------                     -------------------
                 None                                    None

         SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                        COMMON STOCK, $0.01 PAR VALUE
                              (Title of Class)

     Indicate by check mark if the registrant is a well-known seasoned issuer,
as defined in Rule 405 of the Securities Act. YES [ ]  NO [X]

     Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act. YES [ ]  NO [X]

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.  YES [X]  NO [ ]




     Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ]

     Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, or a non-accelerated filer. See definition of
"accelerated filer and large accelerated filer" in Rule 12b-2 of the
Exchange Act. (Check one):

Large accelerated filer [ ]  Accelerated Filer [X]   Non-accelerated Filer [ ]

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Act). YES [ ]  NO [X]


     The aggregate market value of voting and non-voting common equity held by
nonaffiliates as of June 30, 2005, based on the closing price as reported on
The Nasdaq Stock Market(SM) of $22.04 per share, was approximately
$205,664,409.


     As of March 8, 2006, Registrant had 18,886,442 shares of Common Stock
outstanding.

EXPLANATORY NOTE
         We are filing this Amendment No. 1 on Form 10-K/A to Monarch Casino &
Resort, Inc.'s Annual Report on Form 10-K for the fiscal year ended
December 31, 2005, originally filed on March 16, 2006, for the sole purpose of
refiling the certifications of the Chief Executive Officer and Chief Financial
Officer, as required pursuant to Section 302 of the Sarbanes-Oxley Act of
2002. These certifications are included in this filing as Exhibits 31.1 and
31.2, respectively. Pursuant to Rule 12b-15 of the Securities Exchange Act of
1934, the certifications of the Chief Executive Officer and Chief Financial
Officer, as required pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, are also included in this filing as Exhibit 32.1 and 32.2, respectively.
This Form 10-K/A does not otherwise modify or update any of the disclosures
contained in the original filing on Form 10-K to reflect any events that
occurred at a later date.



                                  SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                       MONARCH CASINO & RESORT, INC.
                                               (Registrant)

<TABLE>
<S>                                    <C>
Date: April 25, 2006                   By: /s/ BEN FARAHI
                                       ------------------------------------
                                       Ben Farahi, Co-Chairman of the Board,
                                       Secretary, Treasurer and Chief
                                       Financial Officer (Principal Financial
                                       Officer and Duly Authorized Officer)
</TABLE>

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
     Signature          Title                                   Date
     ------------------ --------------------------------------  --------------
     <S>                <C>                                     <C>
     /S/ JOHN FARAHI    Co-Chairman of the Board of Directors,  April 25, 2006
     ------------------ Chief Executive Officer (Principal
         John Farahi    Executive Officer) and Director

     /S/ BOB FARAHI     Co-Chairman of the Board of Directors,  April 25, 2006
     ------------------ President, and Director
         Bob Farahi

     /S/ BEN FARAHI     Co-Chairman of the Board of Directors,  April 25, 2006
     ------------------ Secretary, Treasurer, Chief Financial
         Ben Farahi     Officer (Principal Financial Officer
                        and Principal Accounting Officer) and
                        Director

     /S/ CRAIG. F.
         SULLIVAN       Director                                April 25, 2006
     ------------------
     Craig F. Sullivan

     /S/ RONALD R.
         ZIDECK         Director                                April 25, 2006
     ------------------
     Ronald R. Zideck

     /S/ CHARLES W.
         SCHARER        Director                                April 25, 2006
     ------------------
     Charles W. Scharer
</TABLE>




                                                                  EXHIBIT 31.1

CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ben Farahi, Chief Financial Officer of Monarch Casino & Resort, Inc.,
certify that:

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

2. Based on my knowledge, this annual 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 annual 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)) 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
        fourth 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 and reporting, to the
   registrant's auditors and the audit committee of 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
        control over financial reporting.

Date: April 25, 2006

By: /s/ Ben Farahi
    ---------------
        Ben Farahi
        Chief Financial Officer, Secretary and Treasurer



                                                                  EXHIBIT 31.2

I, John Farahi, Chief Executive Officer of Monarch Casino & Resort, Inc.,
certify that:

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

2. Based on my knowledge, this annual 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 annual 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)) 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
        fourth 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 and reporting, to the
   registrant's auditors and the audit committee of 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
        control over financial reporting.

Date: April 25, 2006

By: /s/ John Farahi
    ---------------
        John Farahi
        Chief Executive Officer


EXHIBIT 32.1

                       CERTIFICATION PURSUANT TO
                        18 U.S.C. SECTION 1350,
                         AS ADOPTED PURSUANT TO
             SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


     In connection with the Annual Report on Form 10-K, as amended, of Monarch
Casino & Resort, Inc., (the "Company") for the year ended December 31, 2005 as
filed with the Securities and Exchange Commission (the "Report"), I, John
Farahi, Chief Executive Officer of the Company, certify, pursuant to and for
purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that:

         1. To the best of my knowledge, the Report fully complies with the
            requirements of section 13(a) or 15(d) of the Securities Exchange
            Act of 1934; and

         2. To the best of my knowledge, the information contained in the
            Report fairly presents, in all material respects, the financial
            condition of the Company as of the dates indicated and results of
            operations of the Company for the periods indicated.




                                    /S/ JOHN FARAHI
                                    ---------------
                                        John Farahi
                                        Chief Executive Officer

                                        April 25, 2006





























EXHIBIT 32.2

                        18 U.S.C. SECTION 1350,
                         AS ADOPTED PURSUANT TO
              SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


     In connection with the Annual Report on Form 10-K, as amended, of Monarch
Casino & Resort, Inc., (the "Company") for the year ended December 31, 2005 as
filed with the Securities and Exchange Commission (the "Report"), I, Ben
Farahi, Chief Financial Officer, Secretary and Treasurer of the Company,
certify, pursuant to and for purposes of 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

      1. To the best of my knowledge, the Report fully complies with the
         requirements of section 13(a) or 15(d) of the Securities Exchange Act
         of 1934; and

      2. To the best of my knowledge, the information contained in the Report
         fairly presents, in all material respects, the financial condition of
         the Company as of the dates indicated and results of operations of
         the Company for the periods indicated.




                                    /S/ BEN FARAHI
                                    --------------
                                        BEN FARAHI
                                        Chief Financial Officer, Secretary and
                                        Treasurer

                                        April 25, 2006