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Day: 28 May 2021

Monaco's slow return to normal continues

by: Cassandra Tanti
28/05/2021

The joyful sounds of music are set to return to restaurants and cafés under a new easing of restrictions, while the curfew has also been pushed back an hour to 11pm.
The government released details of its new round of health measures on Friday, revealing that the nighttime curfew will kick in from 11pm and remain in force until 6am.
Evening service at restaurants remains at the 11pm closing time, while service also remains banned between the hours of 3pm and 7pm.
Cafés have had their opening hours extended to 8pm.
The announcement also marks the long-awaited return of music to establishments, however dancing is still not allowed and there is a sound limit of 74db, which, to put it into perspective, is about the same range as a vacuum cleaner.
Meanwhile, working from home remains mandatory until at least 13th June.
The number of people allowed in groups outside has grown from six to 10, while reception rooms and congress centres are now allowed to welcome 70% of their capacity audience, with a limit of 1,000 people.
The measures are effective on 31st May for a period of two weeks.
 
 
Photo of the Café de Paris dining terrace by SBM
 
 

Pandemic halves SBM revenue in 2020/21 fiscal year

by: Stephanie Horsman
28/05/2021

Monaco’s largest employer, Société des Bains de Mer, has reported revenues of €336.9 million in the year ending 1st March 2021 compared to €618.8 million the previous year, amid the company’s major restructuring and cost-saving plan.

The pandemic brought havoc to those in the hospitality industry, and the Société des Bains de Mer (SBM) was no exception. CEO Jean-Luc Biamonti announced the company’s financial statements to the press on Friday, after an annual Board of Directors meeting on 27th May.

Among the notable figures, SBM saw gaming revenues decrease by €115 million in the last financial year, equalling -48%. Meanwhile, hotel revenues reduced by €175 million, coming to a depressing -62%. The only bright spot was that rental revenues increased by a small but significant €10 million equalling a +11% gain.

The company also saw an operating loss of €103.3 million compared with a €22.6 million profit in the 2019/20 fiscal year. The consolidated loss was less severe, but still significant at -€79.1 million, as opposed to the previous year which saw a profit of €26.1 million.

Gaming and hotel losses are contributed directly to the forced closures that were periodicallynecessary as part of lockdown procedures throughout much of 2020 and into 2021.

The rental sector increase is being attributed mainly to new residential leases having been signed at One Monte-Carlo, though Monte-Carlo Bay, the Balmoral, the Villas du Sporting’s boutique and office lettings also contributed.

As a result, SBM has worked to reduce overhead in the form of operating and investment expenses, as well as accelerating their global restructuring plan. This led to employees going on furlough or paid leave throughout a good part of the year.

The restructuring plan, which was announced on 4th March, includes a voluntary redundancy plan for employees over 57-years-old, on the essential condition that these workers would not be replaced. Do date, 234 employees have signed up.

Additionally, a collective forced redundancy plan was put into effect. This is currently limited to just two people, with most of the staff departures targeted at certain departments for reasons of overstaffing or re-organisation to restore competitiveness. These individuals have been moved to alternative roles.

The restructuring has resulted in a net cost of €25.3 million.  

Looking forward, SBM anticipates, with the implementation of the restructuring plan, a net saving of €18 million this year. These savings, along with other measures to bring costs more into line with seasonal fluctuations in activity, should give SBM Group a return to profitability, says the company.

SBM has also put in place financial measures that mean they are completely solvent. According to Mr Biamonti, they have roughly €90 million in ready cash for the unexpected or the unforeseen.

 

Photo of the Casino de Monte-Carlo by Monaco Life
 
 
 

UK travellers not on Monaco's red list

by: Cassandra Tanti
28/05/2021

Monaco is not applying the same mandatory quarantine rule on travellers from the UK that France is set to impose from Monday 31st May.  
Just when things looked like they were getting back to normal, France put UK on its compulsory isolation list due to the spread of the Indian variant in that country. It means that anyone arriving to France from the UK must undertake self-isolation at a specific destination for a period of seven days, effective 31st May.
However, the rule doesn’t apply to Monegasque citizens and residents flying in to the French Riviera airport on route to the Principality. Nor does it apply to UK citizens entering the Principality.
So far, Monaco has not changed its list of ‘red’ countries. Therefore, only travellers coming from South Africa, Argentina, Brazil, Chile or India are required to self-isolate for seven days, and even this period can be shortened if they obtain a negative PCR test from a laboratory in the Principality.
For people travelling from the UK, only a negative PCR test carried out within 72 hours is required if they are stopped by Monegasque authorities.
The circulation of Covid throughout the Principality continues its downward trend. On 29th May, there were no new cases of the virus detected in the Principality and no patients were hospitalised at the Princess Grace Hospital. The incidence rate has fallen to a new low this year of 21, while over 43% of the population have now been vaccinated.
 
 
 
Photo by the Government Communication Department
 
 
 

Roca team takes win in front of home crowd

by: Stephanie Horsman
28/05/2021

For the first time since October 2020, fans were allowed in to the Salle Gaston Médecin to support AS Monaco Basketball, where they handily won against Le Mans 75 to 52.

Smiles on faces, clapping hands and cheers for the teams punctuated the first night back for 800 fans of AS Monaco Basketball on Thursday night when they played against a determined Le Mans team, winning their fifth straight game. 

“A big thank you to the fans for the warmth and support they gave us,” Team Captain Dee Bost said after the game. “They gave us extra energy for the end of the season. We must not make a wrong step, but we have a group that can do it.”

Mathias Lessort scored the first points of the game, followed by a beautiful three-pointer by JJ O’Brien. It was a nice way to start, and it just got better from there.

There wasn’t a quarter where the Roca team didn’t outscore their opponents. The first quarter ended with 26 points to 20, the second they made 19 points to Le Mans’ 10, in the third, it was 19 to 15 and in the final quarter Monaco had 11 points and Le Mans seven.

The Roca cheerleading girls were also back, adding a bit more fun to the party atmosphere, and at the end of the first quarter, We are the Champions by Queen was played to celebrate the Roca team’s Euro Cup title.

“It was a great time to be able to find our fans,” said Coach Zvezdan Mitrovic. “They gave us energy. We needed to share with them. It was difficult for Le Mans tonight, with a small roster. We have to manage this end of the championship with very close matches and defend our first place. The team is behaving very well, the group is making every effort.”

AS Monaco made 28 shots out of 65, with six for 25 of those being three-pointers. The team had an enormous 42 rebounds, with Damien Inglis claiming 12 of his own. They recovered 16 stray balls, had 16 assists and stole the ball 18 times.

Captain Bost was high-scorer with 14 points on the night, followed by Lessort and Fall Faye who clocked up 11 each.

The Roca team are back on the court Tuesday 1st June where they travel to Chalons-Reims.

 
 
Monaco Life with AS Monaco Basketball press release, photo by Manuel Vitali, Government Communication Department 
 
 

Preview Olympic stars in Monaco this July

by: Stephanie Horsman
28/05/2021

The 2021 edition of the Herculis EBS, Monaco’s prestigious athletics event, will take place on 9th July, just two weeks before the start of the Olympic Games in Tokyo.
The high-profile sporting event will return to Monaco at the Stade Louis II, promising to give fans the best of athletics.
“The whole team is preparing to host this event, whether on the event side or on the athlete invitation side,” Monegasque Wanda Diamond League stage director Jean-Pierre Schoebel told Monaco Info. “The Herculis EBS 2021 meeting will be an opportunity for the public to see the stars who will be present at the Olympic Games in Tokyo.”
Some of the highlights will be the attendance of some of the brightest personalities in the athletics world, including Yulimar Rojas, the quadruple world triple jump champion, Gianmarco Tamberi, the reigning Italian champion of the high jump, and Djilali Bedrani, number five in the last world championships in Doha in the 3,000m steeplechase.
There will be a total of 14 events giving equal footing to both the men and women. These will be 200m, 800m, 1,500m, 3,000m steeplechase, pole vault, triple jump and javelin for women and 100m, 800m, 1,500m, 400m hurdles, 3,000m steeplechase, high jump and long jump for men.
“Parity will be the order of the day,” said Schoebel. “We have 14 events on the program, seven for men and seven for women.”
A new addition to the competition will be the ‘Final 3’ for the javelin, triple jump and long jump, created to give spectators a chance to follow the best of the best. After the regular competition, the three best athletes from each sport will go on to compete in the Final 3. They will each be given one final try and the result of this will determine the final ranking for the competition.
In compliance with health rules, a cap of 8,000 attendees is in place.
Tickets are on sale starting at just €10. The event will be broadcast on CANAL+ for those unable to attend. For more information and bookings, visit the website at www.herculis.com
 
 
Photo of Gianmarco Tamberi, Italian record holder for the high jump. by P.Fitte