Better times for Monaco’s SBM

SBM has revealed higher revenues for the financial year 2017-2018. The figures were disclosed on Wednesday, June 20, at a press conference held in the Hotel Hermitage in Monaco by Mr Jean-Luc Biamonti, Chairman and CEO of Monte Carlo SBM.

Mr Jean-Luc Biamonti, Chairman and CEO of Monte Carlo SBM

For the period from April 1, 2017, to March 31, 2018, revenues recorded a significant improvement in consolidated net income with a reduction of consolidated net loss, coming from an increase of hotel revenues, a stabilisation of gaming revenues and an increase in rental revenues.

Revenues climbed to €474.6 million from €458.8 million last year, progress marked by the stability of gaming revenue, an increase of over seven percent in hotel revenues and an increase of four percent in rental revenue.

The operating loss of -€27.1 million compared to an operating loss of -€32.8 million during the previous year, an improvement of €5.7 million.

There was a significant improvement in consolidated net income, with a net consolidated loss of -€14.6 million compared to a net consolidated loss of -€36.4 million for the fiscal year 2016/2017, a reduction of €21.8 million, thanks to a strong improvement in the performance of Betclic Everest Group, with a share in net profit of €12.5 million for the fiscal year, compared to a net loss of -€4.2 million last year.

SBM conference 2018

The greater accommodation capacity of Hotel de Paris this year and the good results coming from Hotel Monte Carlo Bay and Méridien Hotel have also sustained the trend.

Mr Biamonti, who is also Chairman of the board directors at Betclic Everest Group, confirmed the younger generation of players’ interest in online bets in a disrupted gambling world where habits are changing.

“Betclic is performing up to 12.5 million euros for this fiscal year with 80 percent of sales revenue coming directly from players’ mobiles,” Mr Biamonti said. “The gaming sector is in complete transformation with a player population growing old and a new generation of players interested in totally different playing activities,” he added.

That’s why SBM Is working on new proposals to attract the next generation of players to Monaco. Creating spectacular events such as “ dinners surréalistes” which have been a great success or the poker tournaments that have interested the new players’ generation who appreciate being pampered and entertained during their stay in the Principality.

On June 23 a “Belle Époque” evening is being held in the Café de Paris for SBM Casino customers on invitation with a special programme and customers being collected at their hotels by cars belonging to the private collection of The Prince of Monaco.

Hôtel de Paris is announcing an opening for the end of 2018. One Monte-Carlo will open on February 22, 2019, with boutiques and apartment rentals. All previous boutique contracts have been renewed and a number of new ones are being welcomed, including Berlutti, Hublot, Gianvitto Rossi, Fendi.

The gardens around Casino Square will be restored and improved.

The Hotel de Paris Grill, Jimmy’s and the new venue Coya are doing very well and La Vigie will open from 12:00 to 24:00 for the summer season.

Twenty-three percent of SBM hotel and restaurant clients are French, 13 percent Russians and East Europeans, with Americans in third place, Italians fourth and British fifth.

SHARE