Operator News
Monaco – Mixed bag for SBM as revenues rise by three per cent
By Phil - 29 June 2018
Société des Bains de Mer and its subsidiaries generated sales of €474.6m for the whole of the 2017/2018 financial year, compared to €458.8m in 2016/2017, giving an improvement of three per cent.
The €15.8m increase is the result of improved revenues in the hotel sector with gaming generating a turnover of €200.7m against €201.7m in 2016/2017.
Slot gaming was up by seven per cent with table games at Casino Monte Carlo also up by 21 per cent, compensating for decline in table gaming at Casino Café de Paris and the Sun Casino .
The company reported an operating loss of €27.1m against an operating loss of €32.8m for the previous year due mainly to the renovation of the Hotel de Paris. The operator said the losses were in line with forecasts.
The company’s online gaming partnership with Betclic Everest Group, generated revenues of €12.5m up from a loss of €4.2m last year due to Betclic’s good performance on the French market with its new mobile applications.
SBM also revealed that since 1 April 2018 its revenues are slightly up on last year. It said: “The games sector last year had a difficult start to the year, with table games activity below expectation. The turnover of table games is therefore up for the first two months of the New Year, unlike the revenues of the automatic devices which have decreased slightly. The turnover of the hotel sector is also growing, due in particular to the evolution of the activity of the Hotel de Paris, which has more accommodation capacity than last year.”
