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Tag Archives: SBM

Monaco – Gaming falls three per cent at SBM but hotel sector drives overall increase

Despite its overall revenues increasing by three per cent to €445.6m, Société des Bains de Mer saw its gaming revenues fall by the same amount to €127.8m due to ‘increased player selectivity in connection with enhanced compliance rules and an unfavorable risk in table games, mainly in the first quarter of the year.’ Hotel revenues…

Monaco – SBM reports increase of 26 per cent in 2022 with gaming up seven per cent

Société des Bains de Mer and its subsidiaries generated revenue of €667m for the full 2022/2023 financial year compared to €530.5m in 2021/2022, an improvement of 26 per cent over the full year. The €136.5m increase in revenue was the result of improved revenues across all business segments. In the first quarter of the previous…

Monaco – Albert Manzone named as the Managing Director of SBM

Albert Manzone has been unveiled as the new Managing Director of Société des Bains de Mer (SBM) in Monte-Carlo. The 59-year-old Monegasque will take office on April 12. He will support the president-delegate Stéphane Valéri who wished, with this appointment, ‘to strengthen the efficiency of the governance of the SBM.’ Presented as a ‘specialist in…

Monaco – SBM bounces back with strong summer period

During the 2021/2022 financial year, Monte Carlo casino group Société des Bains de Mer achieved a turnover of €530.5m for the entire 2021/2022 financial year compared to €336.9m in 2020/2021, an increase of 57 per cent over the full year. This €193.6m increase in revenue illustrates the recovery in activity despite a still unfavourable health…

Monaco – SBM says casino revenues are now 12 per cent higher than before the pandemic

During the first quarter, Société des Bains de Mer and its subsidiaries achieved a sharp increase in sales compared to the same period last year. The consolidated revenue of the S.B.M. Group stood at €207.8m compared to €110.9m previously, an increase of €96.9m. This achievement is also 18 per cent higher than revenue in the…

Monaco – SBM’s casinos still off the pre-pandemic pace by 27 per cent

With all of its casinos closed for the first two months of the first quarter, Monaco operator Société des Bains de Mer saw its gaming division operating at 27 per cent less of its pre-pandemic level. Gaming recorded a turnover of €45.1m for the past quarter against €9.6m last year, all establishments having been closed…

Monaco – Société des Bains de Mer de Monaco confirms cost reduction plan

The Société des Bains de Mer de Monaco has finalised its cost reduction plan due to the coronavirus pandemic with savings expected to reach €18m a year. “As announced a few months ago, the health crisis linked to the Covid-19 epidemic and the economic shock caused has forced Société des Bains de Mer to accelerate…

Monaco – Société des Bains de Mer down 23 per cent in Q3

Société des Bains de Mer and its subsidiaries recorded a 23 per cent decline in consolidated sales during the third quarter of fiscal year 2020/2021. In the period from October 1 to December 31 2020, the revenue generated by the SBM Group came in at €95.8m against €124.3m the previous year. The operator stated: “The…

Monaco – SBM looking to accelerate restructuring plan

The health crisis linked to the Covid-19 epidemic and the economic shock caused by the latter are forcing the Société des Bains de Mer to accelerate the implementation of a global restructuring plan, particularly in social matters. Faced with a very worrying economic situation, and as announced at the last General Meeting of Shareholders, the…