Weather
24 ° C
24°C
16°C
Sunny
Breaking News

0 Covid cases 26 Sep, 3 hospitalised, 2 in ICU, 10 home monitored, 3,242 recoveries, 35 deaths, 36 incidence rate, 77% eligible population vaccinated

SBM posts much healthier quarterly turnover

SBM posts much healthier quarterly turnover

By Staff Writer - August 16, 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.

Casino Monte Carlo at night
Casino Monte Carlo. @copy; Steve Masters.

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.

shares
SHARE
Previous articleAS Monaco offers range of perks to Premium supporters
Next articleNew rules for yachts at anchor in Monaco

daily

September 27, 2021 | Local News

SBM looks ahead after dismal financial year

Cassandra Tanti

Despite a 46% drop in turnover for the 2020/21 financial year, SBM Monte-Carlo has revealed an exciting new expansion plan for the famed Café de Paris in the Casino Square.

0
Stephanie Horsman

The Yacht Club was the final scene in a series of exclusive events last week that featured two NASA astronauts and showcased the world’s first commercial space station.

0
September 27, 2021 | Local News

Leclerc starts Russian GP in back of the pack

Cassandra Tanti

Leclerc had a rollercoaster race at the Russian GP, with pole position near the back end of beyond, treacherous rains, and an inability to change tyres during an early pit stop.

0
September 27, 2021 | Local News

ASM come from behind to win comfortably

Stephanie Horsman

Monaco overcame an early setback against the newly-promoted Clermont Foot to secure a fourth consecutive victory in all competitions.

0