Exhibit 5.1
June 29, 2007
3800 S. Virginia St.
Reno, Nevada 89502
Re: Monarch Casino & Resort, Inc. 1993 Executive Long Term Incentive Plan
Registration Statement on Form S-8
Ladies and Gentlemen:
As counsel to Monarch Casino & Resort, Inc., a Nevada corporation (the “Company”), we are rendering this opinion in connection with the registration by the Company of 1,000,000 shares (the “Shares”) of common stock, $0.01 par value, of the Company and the proposed sale thereof. The Shares are to be issued and sold in connection with the Company’s 1993 Executive Long Term Incentive Plan.
We have examined all instruments, documents and records which we deemed relevant and necessary for the basis of our opinion hereinafter expressed. In such examination, we have assumed the genuineness of all signatures and the authenticity of all documents submitted to us as originals and the conformity to the originals of all documents submitted to us as copies.
Based on such examination and subject to the limitations hereinabove provided, we are of the opinion that the Company has the full power and authority under the laws of the State of Nevada, and under the Company’s Articles of Incorporation and Bylaws, as amended, to issue the Shares and that such Shares are validly authorized shares of common stock of the Company, and when issued, upon receipt of payment therefor, will be legally issued, fully paid and nonassessable and not subject to any preemptive or similar rights.
We hereby consent to the filing of the foregoing opinion as an exhibit to the above-referenced registration statement filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended, and to the use of our name in such registration statement.
Sincerely, /s/ Kummer Kaempfer Bonner Renshaw & Ferrario |
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