Monte-Carlo Société des Bains de Mer closed 2025 with a bumper festive season, driven by surging attendance across its resort and a dramatic shift in client demographics. The period from 22nd December to 4th January saw record numbers converge on Monaco, with Casino Square alone hosting more than 30,000 visitors on New Year’s Eve.
CEO Stéphane Valeri detailed the results during his New Year address to the press on Wednesday 7th January, revealing that attendance on Casino Square has doubled in just two years — from barely 15,000 visitors on 31st December 2023 to 23,000 in 2024 and exceeding 30,000 in 2025, all while respecting the maximum simultaneous capacity of 5,500 people.
The surge reflects the success of SBM’s Christmas decorations and animations, which generated more than 18 million views on social media compared to 15 million the previous year. A single post documenting the Princely Family’s inauguration of Casino Square illuminations garnered one million views alone.
French and Italian clients dominate
The festive period revealed a clear picture of SBM’s evolving clientele. France and Italy emerged tied for the top spot, each representing 16% of market share by revenue during the 22nd December to 4th January period.
The United States and Canada showed particularly strong momentum, posting 37% growth to capture 9% of revenue. Eastern European countries held fourth position with 7% market share, while Switzerland rounded out the top five at 6%.
The client mix reflects SBM’s strategic focus on Ultra High Net Worth Individuals, with the company increasingly catering to this demographic through expanded suite offerings and ultra-private clubs like the Monte-Carlo Cigar Club and Cercle des Caves.
Casino and restaurant surge
SBM’s two casinos recorded 60,000 entries during the festive period, benefiting from the increased foot traffic around Casino Square. The gaming floors continue to attract high-end table game players, with Monaco maintaining its position as a premier destination for luxury gaming.
Restaurants posted particularly impressive gains, led by establishments on Casino Square that capitalised on the Christmas decoration draw. The group’s starred restaurants served 2,810 covers compared to 2,375 the previous year, an 18% increase.
But the standout performer was Café de Paris, which saw covers surge from 7,531 to 12,415—a 65% jump year-on-year. The iconic brasserie benefited directly from its prime Casino Square location and the unprecedented visitor numbers.
Cédric Grolet’s patisserie also exceeded all internal forecasts, though Valeri declined to specify exact cake sales volumes, describing them only as “impressive” and noting the thousands sold during the holiday period.
The family of late Formula 1 driver Jules Bianchi is reeling after thieves stole nine karts from his father Philippe’s home earlier this week, including the final kart Jules raced before progressing to single-seater racing.
Among the stolen karts was the machine Jules drove before embarking on a career that saw him win the 2009 F3 Euro Series and eventually compete in Formula 1 for two years with Marussia. The Nice-born driver died in July 2015 from injuries sustained in a horrific crash at the 2014 Japanese Grand Prix at Suzuka, aged just 25.
The Bianchi family issued a statement lamenting an act that “reopens an immense wound” and condemned what they called “a symbolic, intimate and deeply distressing offence”. They appealed to the thieves’ sense of responsibility, hoping the karts can be retrieved and Jules’ legacy protected.
“You stole a legacy”
Dominique Guillien, Jules’ former mechanic and close family friend, issued a pointed message to the perpetrators that highlighted both the practical and emotional dimensions of the theft.
“You didn’t pick the wrong door… but the wrong life,” Guillien wrote in a social media post. “What you took isn’t mere equipment. It has little to no commercial value, for an obvious reason: you’ll never be able to use it. It is identified, traceable and unusable on a karting track.”
Guillien emphasised the significance of the Jules Bianchi name within motorsport. “Most importantly, it belonged to Jules Bianchi. A man, a driver, a child from the karting community. A name that all enthusiasts know, respect and keep close to their hearts. Jules left such a mark that even a five-year-old would know his story, his bravery, his humanity.”
The stolen karts include Baby Karts, which Guillien noted can only be used with special exemption on very few tracks. “Their value is low, but the emotional weight of the theft is huge,” he explained. “The day you attempt to use them, you’ll immediately be recognised, exposed… and your children too will understand what you did.”
Appeal for return
Guillien’s message concluded with an appeal for the thieves to return the equipment anonymously.
“When you stole this equipment, you didn’t just take items. You reopened a wound. You stole a legacy. You hurt Jules’ parents and loved ones again,” he wrote.
“Being a thief, in itself, is a downfall. But persisting would be a choice. It is not too late to set things right. Drop this equipment in a location where it can be returned to his family. Do it. For them. For you. Some things can’t be bought, can’t be resold… and should never be stolen.”
Remembering Jules Bianchi
Jules Bianchi came from racing royalty—his great-uncle Lucien Bianchi was a Le Mans 24 Hours winner, while his godfather is three-time world champion Jean Alesi. He rose through karting to become one of motorsport’s brightest young talents.
The Nice-born driver was a familiar face in Monaco, racing in the same karting circles as Charles Leclerc and effectively growing up alongside many of the famous names in Formula 1 today. His connection to the Principality ran deep, making him a beloved figure in the local motorsport community.
After winning the 2009 F3 Euro Series, Bianchi served as Ferrari’s test driver before making his Formula 1 debut with Marussia in 2013. His finest moment came at the 2014 Monaco Grand Prix, where he scored the team’s only championship points with a ninth-place finish.
Four months later, Bianchi suffered catastrophic head injuries when his car struck a recovery vehicle during the rain-affected Japanese Grand Prix at Suzuka. He never regained consciousness and died nine months later, prompting widespread grief across the motorsport community and leading to significant safety reforms in Formula 1.
Following a successful debut last year, Monaco’s Electro Winter Party is scheduled to return on February 6th with a fresh line up of electronic music acts.
The all-night event will take place at the Grimaldi Forum’s Ravel Hall, running from 9pm until 3am. Parisian duo Ofenbach, described as the world’s most-streamed French electronic act, will top the bill alongside Nice-based producer Feder.
Now, the February edition shifts the focus towards more mainstream electronic dance music. Ofenbach have built a substantial following since they formed, reaching billions of streams across platforms. Their 2022 debut album topped French charts and became one of the country’s most successful exports in recent years. The pair have performed hundreds of shows internationally.
Feder, on the other hand, gained attention nearly a decade ago when his debut track reached the top spot on iTunes in multiple countries. He’s since become recognised for his production work, including tracks used as sporting anthems.
Belgian artist Nathalie Duchene, whose work draws from disco and techno traditions, will also perform, with Monaco-based DJ Baloo closing out the night.
Tickets for general admission cost €70 and include a drink. Meanwhile, the venue also offers VIP table packages for groups of eight or 12, priced between €1,500 and €4,200 depending on the package tier.
Entry is restricted to adults aged 18 and over, with identification checks at the doors, which open at 9pm.
Chris Aire, an internationally renowned jeweler whose creations have adorned celebrities from Naomi Campbell to LeBron James, has reported a major burglary at his rented accommodation in Villefranche-sur-Mer. The Nigerian-American designer claims jewelry worth more than €1 million was stolen from a furnished tourist rental on Tuesday 6th January.
Police were called to the property on Boulevard Lazare-Settimelli around 8:30pm after Aire reported discovering the alleged theft. According to the complaint, €6,000 in cash was also taken. Investigators found no signs of forced entry at the scene.
Nice prosecutor Damien Martinelli confirmed to AFP that an investigation has been opened. “These are facts of burglary without violence,” Martinelli told AFP, adding that “the alleged damage exceeds €1 million.” The case has been assigned to Nice’s police judiciaire as a criminal investigation for aggravated theft.
Chris Aire has reported a €1 million theft from his Villefrance sur Mer holiday rental
“King of Bling” to the stars
Chris Aire, dubbed “The King of Bling” by the Los Angeles Times and “The Emperor of Ice” by Rolling Stone, has built a global reputation over nearly three decades in the luxury jewelry industry. Born in Nigeria in 1964, Aire moved to the United States as a teenager, initially working night shifts at fast-food restaurants while attending college in California and sleeping in his car.
After six years of apprenticeship at a Los Angeles jewelry workshop, Aire launched his eponymous brand in 1996 with just $5,000 in savings. His breakthrough came when he approached NBA star Gary Payton at a hotel, securing a $50,000 order that transformed his fledgling business.
Aire made fashion history in 2004 as the first jeweler to stage a runway show at New York Fashion Week, where supermodel Naomi Campbell closed the show wearing a $10 million diamond halter. The event cemented his reputation as a luxury designer who merges high fashion with urban culture.
A-list clientele
Aire’s client list reads like a Hollywood roll call. His creations have been worn by Angelina Jolie, Halle Berry, Will Smith, Clint Eastwood, 50 Cent, and Shaquille O’Neal, among numerous other celebrities from film, music and sports. He has partnerships with basketball stars including LeBron James and has designed pieces for major events including the Grammys.
His signature style blends precious metals—particularly his trademarked Red Gold—with diamonds and other gemstones in bold, oversized designs that helped popularize “bling” as mainstream luxury. Pieces include diamond-coated guitars, elaborate pendants, and custom commissions that can reach seven figures in value.
Aire operates boutiques in Beverly Hills and Abuja, Nigeria, and has been featured in Forbes, Wall Street Journal, Vogue, and Elle, among other publications. Despite his global success, he remains committed to ethical sourcing practices, working directly with African suppliers and insisting on conflict-free diamonds.
Investigation underway
Detectives must now verify the theft claim and determine whether the alleged burglary was opportunistic or whether perpetrators possessed specific information about Aire’s presence and the valuable jewelry he claims was stored in the apartment. The absence of forced entry raises questions about how access was gained, if the theft occurred as reported.
The alleged theft took place while the designer was staying on the Côte d’Azur during the holiday period. Villefranche-sur-Mer, located between Nice and Monaco, is a popular destination for affluent visitors drawn to its picturesque bay and proximity to the French Riviera’s luxury destinations.
Health and Social Affairs Minister Christophe Robino joined staff at Monaco’s Direction de l’Action et de l’Aide Sociales Thursday morning to mark the department’s 10th anniversary, revealing the scale of social support provided across the Principality.
The department, which employs 180 staff across 15 professions with an annual budget of €51.4 million, handles around 3,500 cases each year through its Social Protection Office alone.
Speaking at the celebration at the new Honore II premises, Robino revealed the range of services provided since the department’s creation, including support for 500 minors and adults with disabilities, 250 child protection cases annually, and 1,500 people in professional integration programmes.
“I want, above all this morning to salute the women and men who work within the DASO,” Mr. Robino said. “It is thanks to you, thanks to your commitment, thanks to your humanity, that the Prince’s Government can support these thousands of people.”
The Princess Charlene Children’s Home welcomes between 20 and 25 children each year, while the department has introduced significant new benefits including minimum income support, autonomy assistance, and subsidiary medical coverage.
Director Marie Thouvenin-Rapaire, addressing colleagues and partners, explained that behind every case, every file, lies a human story. “Behind each file, each procedure, each decision, there is a story, an expectation, sometimes a worry,” she said. “And our role, collectively, is to find that delicate balance between administrative rigour, fairness, and attention to the person.”
However, she also acknowledged the challenges ahead, describing increasing complex situations, and told staff: “Our work requires technical skill, but also personal commitment, discretion, and often great inner strength. As director and former social worker, I know what that represents. I see your investment. I measure your professionalism. And I want to tell you today: thank you.”
Government Disability Delegate – Technical Adviser Lionel Galfré was also present in the celebrations, showing his appreciation for the department’s instrumental role in implementing Monaco’s handipact strategy, as well as its continuous development of specialist services, including a specialised educational centre for children with disabilities.
The minister’s visit was then followed by a public open day running until 5pm, with staff celebrating the milestone with anniversary cake and drinks.
Monte-Carlo Société des Bains de Mer is charting an ambitious international expansion that could significantly boost revenues for both the company and the Principality. CEO Stéphane Valeri outlined the strategy during his New Year address to the press on Wednesday 7th January, detailing plans to export Monaco’s luxury hospitality model to destinations frequented by Ultra High Net Worth Individuals.
The expansion strategy draws direct inspiration from Bernard Arnault’s LVMH, where the luxury conglomerate chairman sits as an administrator on SBM’s board. However, the Princely Government remains SBM’s major shareholder, positioning any international success as a direct benefit to Monaco’s economy.
“I look, for example, at the model of one of our shareholders with whom I have been able to develop good personal relationships and for whom I have great esteem: Bernard Arnault, an administrator on our board of directors with LVMH,” Valeri said. “I find his Cheval Blanc model to be a beautiful example to follow. He started with one and now has seven, I believe. This is not by chance — Bernard Arnault understood that profit comes through international development.”
SBM CEO Stéphane Valeri at Wednesday’s press conference at Monte-Carlo Bay Hotel and Resort. Photo courtesy of SBM
Courchevel spearheads expansion
The centrepiece of SBM’s international push is Monte-Carlo One Courchevel, opening in December 2027 for the 2027-2028 winter season. Work has already begun on transforming the former Neiges Palace, with Swiss architects Herzog & de Meuron redesigning the property and creating three standalone chalets.
The project secured building permits for 5,000 additional square metres beyond the 7,700 existing square metres purchased. These additions will house exceptional luxury suites in Europe’s most prestigious ski resort, where the average price exceeds €30,000 per square metre.
“Courchevel is a true paradox,” Valeri explained. “There are more high-end clients than available rooms. The problem is not selling. The problem is creating luxury rooms and suites and managing them well to offer the very high level of service expected by these clients.”
The timing aligns fortuitously with the 2030 Winter Olympics, where Courchevel will host alpine skiing events.
Design rendering of Monte-Carlo One Courcheval
Management contracts over ownership
Following Courchevel, SBM plans to pursue management contracts rather than property acquisitions. The strategy targets owners seeking Monte-Carlo’s expertise in operating ultra-luxury hotels, with SBM providing management under the Monte-Carlo Société des Bains de Mer brand.
Valeri revealed the company receives two to three management proposals weekly, all currently declined while focus remains on successfully launching Courchevel. “Slowly but surely, first we will succeed in opening Courchevel, and then we will continue not to invest in real estate but to manage for other owners large luxury hotels,” he said.
Advanced discussions are underway with Saudi Arabia, which Valeri described as “very interested in Monte-Carlo’s expertise and excellence”. Other projects are in development in cities frequented by UHNWIs, though specific locations remain undisclosed.
“It is clear we will not go anywhere except where our very high purchasing power clients are located,” Valeri emphasised.
Dubai restaurant and franchise expansion
The Monte-Carlo Club 1863 restaurant concept, developed in partnership with Dream International, will launch in Dubai in 2027. The brand combines gourmet dining with a festive atmosphere inspired by Riviera cuisine from the Côte d’Azur and Italian Ligurian coast.
SBM is seeking a premium Dubai location after rejecting two previous sites. “I prefer to take an extra year but be certain that the location we have will be premium in Dubai,” Valeri said.
Beyond Dubai, Monte-Carlo Club 1863 will open at Courchevel and expand to other destinations where SBM’s clientele congregates.
The company is also developing a franchise model for Café de Paris Monte-Carlo, the iconic brasserie on Casino Square. While no launches are planned before 2027 or 2028, the franchise would allow SBM to monetise the brand and expertise without capital investment. This represents SBM’s first franchise venture for any of its brands.
Monte-Carlo Casino is now onboard the Crystal cruise ships
Cruise ships and Crystal partnership
SBM’s international footprint extends to the seas, where Monte-Carlo Casino roulette tables now operate on Crystal cruise ships. The Crystal Serenity has been recognised among the best cruise experiences by Condé Nast Traveler, and a third Monte-Carlo Casino will feature on a new Crystal vessel launching around 2030.
Targeting the ultra-wealthy
The entire strategy revolves around following SBM’s core market. “Our clientele are Ultra High Net Worth Individuals — people with very high purchasing power who want increasingly large rooms, or rather suites instead of rooms, and increasingly grand and beautiful suites,” Valeri explained.
This focus is already transforming SBM’s Monaco properties. Hôtel de Paris has more than doubled its revenue since its 2019 renovation, now reaching nearly €100 million annually. The ongoing Hôtel Hermitage renovation follows the same model, with newly renovated rooms commanding 25% premium pricing.
Hôtel Hermitage renovated suites now command 25% more from UHNW clients
Monaco remains priority
Despite the international ambitions, Valeri emphasised Monaco’s primacy. Major projects on the 2030 horizon include completing the Hôtel Hermitage renovation, expanding Monte-Carlo Beach with new facilities and suites, and celebrating Monte-Carlo Bay’s jubilee with additional floors — pending government permits – to add storeys to the current 11-floor structure for luxury residences.
“This remains my priority — it is the country of SBM’s foundation, the country where the state is the main shareholder. We employ a few thousand Monegasques and are very proud to be Monegasque. This will remain for us the most beautiful country in the world.”
However, he added: “But it is obvious that if SBM can have a global, international dimension, it must also know how to seek growth and profit relays abroad.”
The strategy positions SBM to capture revenue from the global UHNWI population while leveraging the Monte-Carlo brand built over 160 years. With the Princely Government as majority shareholder, international profits flow directly back to Monaco, potentially providing significant additional revenue for the Principality beyond SBM’s substantial domestic operations.
The company currently employs between 5,000 and 6,000 people at peak season and operates hotels, restaurants, casinos, spas and entertainment venues across Monaco, generating €542.5 million in revenue in the first half of the 2025-2026 fiscal year, up 10% year-on-year.
