SBM becomes the most starred resort in the world
Whilst gaming revenue was down over the year for Monte Carlo operator Société des Bains de Mer, overall revenue grew by nine per cent to €768m, driven by strong activity in the resort during the summer season and the end-of-year festive period, by the opening of the Amazónico restaurant on April 4, 2024 and the reopening of the Café de Paris Monte-Carlo brasserie in November 2023.
The year was notable for SBM as it became the most starred resort in the world, with 10 Michelin stars in total. Gross Gaming Revenue came in at €215.5m, down three per cent, as a result of a lower risk than the previous year, while the volume of gaming increased slightly despite the rigorous application of the new compliance rules. Hotel revenues were up 16 per cent to €399.9m, driven by the opening of the Amazónico Monte-Carlo restaurant on April 4, 2024 and the reopening of the Café de Paris Monte-Carlo brasserie in November 2023, but also by an increase in occupancy rate and average hotel prices over the summer season, as well as in the second half of the year
Stéphane Valeri, Chairman and Deputy of the Société des Bains de Mer, said: “The entire 2024/2025 financial year was very dynamic and confirmed the relevance of our strategy, the coherence and complementarity of our offer, as well as the overall attractiveness of our Resort. The hotel business was particularly successful in both volume and average daily rate. Catering also grew strongly, driven by the enthusiasm generated by the first financial year of the summer for Amazónico Monte-Carlo, and by the continued success of the Café de Paris. These performances for the 2024/2025 financial year reinforce our conviction that we must continue to implement our development strategy in all sectors.
“As such, the S.B.M. Group is continuing its investments and innovations with the opening of Marlow, Jondal at the Vigie Monte-Carlo, the Cédric Grolet boutique at the Hôtel de Paris Monte-Carlo and the Monte-Carlo Cigar Club in 2025. In addition, the excellence of our catering offers was recognised again this year with three new Michelin stars, two for the Abysse Monte-Carlo and one for Elsa at the Monte-Carlo Beach. The S.B.M. thus becomes the most starred resort in the world, with 10 Michelin stars in total.”
