It is owned and operated by Monarch Casino & Resort, Inc. Its three hotel towers have a combined 824 guest rooms and suites.

The phase III expansion included a third 27-story hotel tower with close to 650 rooms, an expanded casino, three new restaurants, and the addition of a 40,000 sq ft (3,700 m2) entertainment facility.

Additionally, the expansion plans called for a "sky terrace" over Virginia Street that would be anchored by two Greco-Roman columns topped with flame shows that would be hourly.

Atlantis kept in operation its two-story Motor Lodge rooms that was part of the original Golden Road/Travelodge/Quality Inn but closed it down on October 16, 2010, and demolished in the weeks following.

[citation needed] Since 2006, the Atlantis has been on a constant improvement program, starting with a $50 million expansion project that was completed in the summer of 2008; that project saw the expansion of the casino floor to include a new Race and Sports Book, high end poker room, and a new bar-lounge.

In 2010, the property demolished its two-story motor lodge buildings on which the resort was founded to add more parking and make room for intended future expansion later.

In the summer of 2012, the Atlantis announced it had earned the AAA Four Diamond Award, a rating only 5.4% of hotels receive.

CEO John Farahi of resort owner Monarch Inc said the company has no plans to stop improving the facility.

It is likely they will announce plans to build a parking structure to hold some 1700 cars in the near future, also, the company is preparing a nightlife/entertainment district as well to complement the resort.