Day: 16 August 2018

Monaco’s Société des Bains de Mer and its subsidiaries – the dominant casino and hotel operator in Monaco – posted higher sales in the first accounting quarter of 2018 than in the same period last year, the company said on Tuesday, August 14.

The Group’s consolidated sales amounted to 144.8 million euros compared with 127.5 million euros previously, an increase of 14 percent. The growth is mainly due to the favourable evolution of the gaming and hotels sectors, the company said.

With a turnover of 55.4 million euros for the quarter compared to 44.6 million euros last year, the gaming sector recorded a 24 percent improvement. The turnover of table games was up 66 percent for the first quarter of the 2018/2019 fiscal year, while that of automatic devices decreased by one percent.

Hotel revenue rose by nine percent to 76.6 million euros compared to 70.3 million euros for the same period last year. The sector benefits from the reopening of some rooms and the restaurant of the Grill at the Hotel de Paris for the full quarter, representing an increase in turnover of three million euros compared to the same period of the previous year.

Other hotels in the Group also reported higher revenues compared to the first quarter of 2018/2019. Similarly, the reopening of Louis XV – Alain Ducasse, Jimmy’z and the opening of the Coya restaurant have had a very positive impact on the hospitality sector, SBM said.

Although the trend observed since April 1, 2018, is more favourable for the gaming sector and hotel sectors, the random and seasonal nature of the business does not allow forecasts to be made for the full year, the company said.

The complete reopening of the Hotel de Paris is planned for the last quarter of the financial year.

AS Monaco is offering its Premium subscribers a number of new benefits. As part of the Premium package, which costs 195 euros for the year, supporters will receive a small gift from the club, ten in total, between August and May.

As an added incentive, Premium supporters will be given a scarf as a gift for UEFA Champions League matches.

The Premium option will include priority and preferential rates for UEFA Champions League, cup and league matches. Perhaps the biggest perk of all will be that Premium supporters will be able to attend training sessions and the annual gala evening.

Kylian Mbappe is a “once-in-a-lifetime” talent whose value has almost doubled since he starred in the World Cup, but Monaco vice president Vadim Vasilyev said he believes the club’s “production line” of young talent should offer more stars to “surprise the football world” in the coming years, Tom Hamilton of ESPN reports.

Mbappe arrived as a 17-year-old during Monaco’s run to the Champions League semifinals and the Ligue 1 title in 2017, before moving on to Paris Saint-Germain and the 2018 World Cup victory with France.

“He [Mbappe] is a phenomenon, he’s the future Ballon d’Or,” Vasilyev told ESPN. “I knew it before and before he left he was at my house and I had a copy of the Ballon d’Or and took a photo of it and sent it to him, saying soon it will be yours.

“Now there are very few people that will doubt that as sometime in the near future it will be his. It happened quickly, but we knew it all along. He would’ve made it at any club in the world but the fact he had an amazing season with Monaco, in 2016-17 with the title and semifinals of the Champions League and national team debut that helped him to be there and explode at the World Cup.

“We are proud that he’s a product of our academy, we are proud that we have contributed to a world champion. We are proud that 20 years ago, we had four academy players in the team that won the World Cup, imagine that, so we continued the tradition in this World Cup.”

When asked what price tag he would put on Mbappe now, Vasilyev replied: “I think his value is now €250-300 million.”

“The calibre of Mbappe is difficult as this happens once-in-a-lifetime of a club,” Vasilyev said. “We have some amazing talent and we will surprise the football world two or three years from now thanks to the continued backing of president Dmitry Rybolovlev. These boys need time to develop, to become men, to become professional players but I think we’ll have some good surprises.”

Four young French citizens were amongst those killed in the collapse of the motorway viaduct in Genoa on Tuesday, August 14, the France’s Ministry of Foreign Affairs announced on Wednesday.

The Ministry said it remains in contact with the Italian authorities to determine the possible presence of other French victims. The four were travelling in the same car and were identified by an earring and a bracelet.

The overall death toll rose to 39 on Wednesday, which was also a national holiday in Italy and France.

The 1.1 kilometre-long Morandi Bridge, a concrete structure built in the 1960s, experienced structural problems as soon as it was built and was subject to costly maintenance, particularly related to cracks and to the degradation of the concrete. Work was being carried out on the foundations to the bridge when the tragedy happened.

The French authorities have opened criminal investigation for unintentional injuries and involuntary homicide.

The investigation will be carried out by the Directorate General of the National Gendarmerie (DGGN).

Meanwhile, Italy’s Prime Minister, Giuseppe Conte, announced the introduction of a state of emergency for 12 months in Genoa.

Italy’s Minister of Transport, Danilo Toninelli, promised that light would be shed on the causes of the tragedy. “This kind of tragedy can not happen in a civilised country,” he said.