The Monte-Carlo Société des Bains de Mer Group reported record revenues of €861.6 million for the financial year 2025/2026 — a 12% increase on the previous year — with growth across every sector of its business and a shifting clientele that points to a broader transformation in who is coming to Monaco.
Presenting the results at a press conference on Wednesday 10th June, SBM president-delegate Stéphane Valeri described the year as a historic record for the group, driven by strong summer activity, exceptional casino performance and the continued expansion of the hotel and restaurant portfolio.
The American effect
One of the most striking observations from Valeri’s presentation concerned the changing profile of SBM’s clientele. North Americans and visitors from the Middle East are now the leading customer groups at the casinos, overtaking the French, British, Irish and Swiss in the hotels. The average age of guests is also falling — down by nearly a year over three years to around 45 in accommodation, and from 49 to 46 at the Monte-Carlo Beach.
The Formula 1 Grand Prix is playing a significant role in that shift. While stock exchange rules prevented Valeri from discussing the most recent Grand Prix weekend in detail — the 83rd edition having just taken place — he did not hold back entirely. “What I can say is that it was an excellent vintage across all our activities, with results well above forecasts,” he said. “It is a very important period for us, where it is possible to multiply normal daily turnover by six or seven. In particular because more and more wealthy Americans are following Formula 1. This is an effect of Liberty Media’s work in the sport, which has brought about a very significant renewal.”
The numbers
Consolidated revenue for the year ended 31 March 2026 reached €861.6 million, up €93.5 million on the prior year. Hotel revenues rose 11% to €443.1 million, with accommodation up 8% on the back of higher average room rates — boosted in part by newly renovated rooms at the Hôtel Hermitage and the Monte-Carlo Bay Hotel & Resort — and food and beverage up 11%, driven by the opening of the Cédric Grolet Monte-Carlo tea room and boutique and the first full year of Marlow at Mareterra.
Casino revenues were the standout, rising 20% to €259.6 million — a combination of higher table game volumes, a particularly favourable run of results, and growth in slot machine activity. Rental income grew 4% to €156.5 million, with residential occupancy close to 100%.
Operating profit reached €86.6 million, up 16% or €12.1 million on the prior year. Net profit came in at €112.9 million against €110.1 million the previous year. The group ended the year with net positive cash of €158.8 million and equity of €1.678 billion.
Investment continuing
SBM invested €176.8 million during the year, covering ongoing renovation programmes at the Hôtel Hermitage and Monte-Carlo Bay Hotel & Resort, and works on Monte-Carlo One in Courchevel. In 2026, the group is opening Gustave — the new bar at the Hôtel Hermitage — and the restaurant La Vigie with chef Simone Zanoni, alongside a newly renovated La Rascasse.
Valeri said the results reinforced the group’s conviction that its development strategy was the right one. “All our sectors are growing, which strengthens our belief that we must continue to implement our development strategy across all areas.”
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Photo source: MCSBM