Operator News
Monaco – SBM shows growth of 28 per cent in Q3 with casinos up 14 per cent
By Phil - 11 February 2020
Monte Carlo casino operator Société des Bains de Mer recorded consolidated sales growth of 28 per cent in the third quarter of the 2019/2020 financial year.
The Monegasque group said: “Over the period from October 1 to December 31, 2019, the turnover achieved by the S.B.M. amounts to €124.3m compared to €97.2m Revenues from the games sector amounted to €54.745m for the past quarter, up 14 per cent compared to the same period of the previous year. This was due to a significant improvement in revenues from table games and slot machines.
The hotel sector recorded “a 19 per cent increase in turnover, which came to €45.7m compared to 38.2 million euros previously. The sector benefits from the full opening of the Hôtel de Paris, and benefits from the opening of the new Mada One restaurant. The other establishments of the S.B.M. as a whole recorded an increase in their turnover compared to the same period of the previous financial year. ”
After the first nine months of the financial year, the group’s consolidated turnover came in at €532.9m compared to €437.3m for the same period of the previous year. The increase of €95.6m came mainly from the hotel and rental sectors, amounting to almost €36m, the casino sector showing growth of €23.6m. ”
