SBM’s losing streak continues, group remains optimistic

SBM's CEO Jean-Luc Biamonti
SBM’s CEO Jean-Luc Biamonti

The Société des Bains de Mer, the controller of Monaco’s casinos and the dominant hotel operator in the Principality, has announced its annual results showing a continuation of previous trends.

CEO Jean-Luc Biamonti delivered the figures at a press conference at the Salle de Belle Epoque at the Hotel Hermitage Tuesday afternoon.

Overall, turnover fell from €461.4 million in the previous year to €458.8 million from April 1, 2016, until March 31, 2017. Once again, it was gambling revenues that dented SBM’s results, down six percent, largely due to a fall in profits for traditional gaming tables such as roulette. Electronic gaming machine income fell by a lesser amount.

On the other hand, the hotel sector has performed better, despite the reduced capacity of the Hotel de Paris as renovation work continues.

Rental income showed a nine percent increase over the year, largely offsetting the gambling losses. The increase in rental revenue was partly due to more space being available and including boutiques, the Monte-Carlo Bay residences and the new villas at the Sporting.

The operating deficit for the period was €32.8 million, up from €31 million in the previous 12 months. The consolidated net deficit was €36.4 million, up from €29.1 million. The Betclic Everest Group lost €4.2 million compared to a profit of €2 million in the previous 12 months, a further disappointment for the company.

Announcing the financial results on Tuesday, June 13, SBM said that preliminary results since April 1 this year show a slight improvement, and did not discount the impact of the events of July 14 in Nice last year.

French (21%), Russians and Eastern Europeans (13%), Americans (13%) and Italians (11%) are the most popular markets for SBM, which is hoping to further develop their Asian client base.

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New service from La Poste

laposteMonaco’s postal service is offering a new service to both individuals and businesses that could save time waiting to be served when visiting a post office in person.

Customers can order postage stamps and prepaid Chronopost envelopes for delivery at home one day later either by calling +377 99 99 80 20, or by visiting the website lapostemonaco.mc. The service is being launched in response to public demand, La Poste says.

In related news, Post Offices in Monaco will be closed on Thursday, June 15, for the celebration of Corpus Christi, otherwise known as Fete Dieu. Friday, June 16, is not a public holiday, but some businesses will not be open as personnel “make the bridge” to the weekend and benefit from four days off.

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Carabinieri history on display at Palace

Photo: ©Charly Gallo/Department  Communication
Photo: ©Charly Gallo/Department Communication

The celebration of the Bicentennial of the Prince’s Carabinieri continues with a temporary exhibition in the library of the Prince’s Palace, highlighting the company’s two hundred years of history.

Uniforms, archival documents, paintings, portraits and audiovisual presentation will evoke the different missions of the Carabinieri and their role in Princely ceremonials.

This exhibition, the result of collaboration between the Compagnie des Carabiniers du Prince, the Historical Archives Service of the Palais, under the direction of Thomas Fouilleron, and scenographer Cécile Degos highlights the Company’s place in Monegasque life.

Included in the tour of the Palace, the exhibition will be open until October 15.

The Compagnie des Carabiniers du Prince was founded on December 8, 1817, in the reign of Prince Honore IV by his son Honore Grimaldi, Duke of Valentinois, administrator and future Honoré V, for the protection of the Principality.

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Stars’n’Bars leave the 90s behind

Photo: Facebook Stars'n'Bars
Photo: Facebook Stars’n’Bars

On Tuesday, June 13, Monaco’s most recognised sports bar revealed its new logo, which co-founder Kate Powers described as a “necessary modernisation” to more effectively meet its customers’ needs in the 21st century.

No more American and Monaco flags, no more blue and red. It’s a complete 90s makeover: a single star with white and green – to represent the earth and sea – plus a more sophisticated font.

A real tribute to the co-owners’ eco-responsible vision: “We only have one planet, so it is our duty to protect it. We need to leave our children a nice place,” explained Kate, adding, “It’s important for us to have this community here. Some of our clients came when they were kids. Now they come with their own kids. This is amazing.”

Designed by Nice Sustainable Design School (SDS) and Colibri Monaco, a communications consultancy agency, the new Stars’n’Bars trademark immediately won Kate over: “We liked it pretty much right off! We kept the star but now it looks lighter and cleaner.”

During the press conference at StarDeck, co-founder Didier Rubiolo pointed out that the logo had already been shown at Stars’n’Bars Courchevel, which opened in December 2016, and it will also be used in the other Stars’n’Bars locations in Abu Dhabi (opened 2010) and Punjab (opened 2013), as well as for merchandising and staff uniforms.

Both Kate and Didier still love what they do and do what they love for one reason: “To make a difference.”

It was in 1993 that the pair had the idea for Stars’n’Bars, after opening their first restaurant, The Texan. In fact, the name Stars’n’Bars originates from The Texan when bartender Jean-Pierre Baldwin (more affectionately known as “Coach”) said “we must always treat our customers as stars,” and because in the new restaurant there were three bars.

Now, 24 years later, Stars’n’Bars serves more than 240,000 customers a year, is 100 percent run on electricity provided by renewable energy sources, has its own urban vegetable garden, operates as an Eco-Hub and Kate and Didier drive an electric company car … which, of course, proudly displays a brand new Stars’n’Bars logo.

starsnbarslogo

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Father Dan steps in at St Paul’s Church

Father Dan Langdon-Griffiths. Photo: St Paul's Monte Carlo
Father Dan Langdon-Griffiths. Photo: St Paul’s Monte Carlo

Father Dan Langdon-Griffiths, who has been a frequent guest minister at St Paul’s Monte-Carlo over several years, will serve a long-term interregnum at the Anglican church beginning in August, following the retirement of Father Walter Raymond.

Father Dan – who served as a student placement with Father Walter in January 2014 before his ordination in July of the same year – may serve at St Paul’s until the end of January 2018 or until the arrival of the next Chaplain of Monaco, whichever comes first.

Since his ordination, Father Dan has served as Curate of St Helen’s in the Diocese of Liverpool and as a replacement minister for Father Walter on a few occasions. Last month, Father Dan earned his amateur pilot’s license.

The 35-year-old delivered the sermon at the memorial service for Sir Roger Moore on Saturday, June 10.

Monaco Life would like to join in wishing Father Walter a well-deserved retirement after many years of outstanding service to the Anglican community in Monaco.

A special fundraising event
Revd Peter Harris, co-founder of A Rocha International along with his wife Miranda, was the guest preacher at St Paul’s Church in Monte-Carlo on Sunday, and on Tuesday evening, the couple attended a fundraiser reception in the Church Library at which Revd Harris outlined the role of the organisation in modern Christianity.

He said that it’s important to understand that A Rocha, as a movement, is driven by biblical theology. It’s not a Christian attempt to “save the planet”. It’s a response to who God is.

Revd Harris told Christianity Today, “I don’t think there is any guarantee we will save the planet. I don’t think the Bible gives us much reassurance about that. But I do believe it gives God tremendous pleasure when his people do what they were created to do, which is care for what he made.”

A Rocha has research centres in 20 countries, including in Father Walter’s country of birth, Canada. “I can’t say enough about the quality of this movement and its lovely founders,” he told Monaco Life.

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Losing streak continues at SBM

hotel de paris, monaco, monte carlo, luxury
SBM's CEO Jean-Luc Biamonti
SBM’s CEO Jean-Luc Biamonti

The Société des Bains de Mer, the controller of Monaco’s casinos and the dominant hotel operator in the Principality, has announced its annual results showing a continuation of previous trends.

CEO Jean-Luc Biamonti delivered the figures at a press conference at the Salle de Belle Epoque at the Hotel Hermitage Tuesday afternoon.

Overall, turnover fell from €461.4 million in the previous year to €458.8 million from April 1, 2016, until March 31, 2017. Once again, it was gambling revenues that dented SBM’s results, down six percent, largely due to a fall in profits for traditional gaming tables such as roulette. Electronic gaming machine income fell by a lesser amount.

On the other hand, the hotel sector has performed better, despite the reduced capacity of the Hotel de Paris as renovation work continues.

Rental income showed a nine percent increase over the year, largely offsetting the gambling losses. The increase in rental revenue was partly due to more space being available and including boutiques, the Monte-Carlo Bay residences and the new villas at the Sporting.

The operating deficit for the period was €32.8 million, up from €31 million in the previous 12 months. The consolidated net deficit was €36.4 million, up from €29.1 million. The Betclic Everest Group lost €4.2 million compared to a profit of €2 million in the previous 12 months, a further disappointment for the company.

Announcing the financial results on Tuesday, June 13, SBM said that preliminary results since April 1 this year show a slight improvement, and did not discount the impact of the events of July 14 in Nice last year.

French (21%), Russians and Eastern Europeans (13%), Americans (13%) and Italians (11%) are the most popular markets for SBM, which is hoping to further develop their Asian client base.

SBM is due to report its next quarterly earnings on September 22, 2017.

Article first published June 13 2017.


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