FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

FARAHI BOB 		2. Issuer Name and Ticker or Trading Symbol

MONARCH CASINO & RESORT INC [ MCRI ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
President
(Last)          (First)          (Middle)

MONARCH CASINO & RESORT INC, 3800 S. VIRGINIA STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

8/9/2017
(Street)

RENO, NV 89502
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   8/9/2017     S    34000   D $34.43   482516   D    
Common Stock   8/9/2017     M    33334   (1) A $29   482516   D    
Common Stock   8/9/2017     F    29231   (1) D $34.91   482516   D    
Common Stock                  482516   D    
Common Stock                  435000   I   by trust  
Common Stock                  434626   I   by trust  
Common Stock                  100000   I   by trust  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options / Right to Buy   $29   8/9/2017     M         33334    10/21/2010   10/21/2017   Common Stock   33334   $0   200003   D    
Options / Right to Buy   $23.08                    11/1/2019   11/1/2026   Common Stock   33333     200003   D    
Options / Right to Buy   $17.62                    10/21/2018   10/21/2025   Common Stock   33334     200003   D    
Options / Right to Buy   $12.32                    10/21/2017   10/21/2024   Common Stock   33334     200003   D    
Options / Right to Buy   $21.71                    10/21/2016   10/21/2023   Common Stock   33334     200003   D    
Options / Right to Buy   $8.56                    10/9/2015   10/9/2022   Common Stock   33334     200003   D    
Options / Right to Buy   $9.33                    10/21/2014   10/21/2021   Common Stock   33334     200003   D    

Explanation of Responses:
(1)  On August 9, 2017, Mr. Farahi completed "net" stock option exercise whereby he exercised 33,334 stock options with an expiration date 10/21/2017. The exercise price of the stock option and the required tax withholding were paid in the form of stock totaling 29,231 shares. As a result of this "net" stock exercise Mr. Farahi beneficial ownership increased by the balance of 4,103.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
FARAHI BOB
MONARCH CASINO & RESORT INC
3800 S. VIRGINIA STREET
RENO, NV 89502 		X
President

Signatures
Bob Farahi 8/10/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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