Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
FARAHI JOHN
   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 __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO
(Last)
(First)
(Middle)
MONARCH CASINO & RESORT INC, 1175 MOANA LANE SUITE 200		 3. Date of Earliest Transaction (Month/Day/Year)
03/03/2014
(Street)

RENO, NV 89509		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 03/03/2014   M   200,000 (1) A $ 11.685 1,987,392 D  
Common Stock 03/03/2014   F   157,007 (1) D $ 18.55 1,880,385 D  
Common Stock               1,880,385 D  
Common Stock               256,765 I by trust
Common Stock               261,467 I by trust
Common Stock               261,467 I by trust
Common Stock               261,467 I by trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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
Option/right to buy $ 11.685 03/03/2014   M     200,000 (1)   (2) 10/21/2014 Common Stock 200,000 $ 0 603,334 D  
Option/right to buy $ 18.06             10/21/2008 10/21/2015 Common Stock 70,000   603,334 D  
Option/right to buy $ 21.82             10/21/2009 10/21/2016 Common Stock 66,666   603,334 D  
Option/right to buy $ 29             10/21/2010 10/21/2017 Common Stock 66,668   603,334 D  
Option/right to buy $ 6.8             10/21/2011 10/21/2018 Common Stock 66,668   603,334 D  
Option/right to buy $ 10.43             10/21/2012 10/21/2019 Common Stock 66,666   603,334 D  
Option/right to buy $ 11.48             10/21/2013 10/21/2020 Common Stock 66,666   603,334 D  
Option/right to buy $ 8.56             10/09/2015 10/09/2022 Common Stock 66,666   603,334 D  
Option/right to buy $ 9.33             10/21/2014 10/21/2021 Common Stock 66,668   603,334 D  
Option/right to buy $ 21.71             10/21/2016 10/21/2023 Common Stock 66,666   603,334 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
FARAHI JOHN
MONARCH CASINO & RESORT INC
1175 MOANA LANE SUITE 200
RENO, NV 89509		   X   X   CEO  

Signatures

 John Farahi   03/05/2014
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) On March 3, 2014, Mr. Farahi completed a "net" stock option exercise whereby he exercised 200,000 stock options with an expiration date of October 21, 2014. The exercise price of the stock option, and the resultant required tax withholding, were paid in the form of stock totaling 157,007 shares. As a result of this "net" stock option exercise, Mr. Farahi's beneficial ownership increased by the balance, or 42,993 shares.
(2) On October 21, 2004, Mr. Farahi was granted an option pursuant to the Company's 1993 Executive Long Term Incentive Plan, as amended, to purchase 200,000 shares of the Company's commmon stock at $11.685 per share. The shares' vesting schedule is as follows: 66,666 vested on October 21, 2005; 66,666 vested on October 21, 2006 and 66,668 vested on October 21, 2007.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.