The Monte Carlo casino and hotel group SBM (Société des Bains de Mer) has confirmed strong growth for the first half of the 2024/2025 fiscal year, with revenue increasing by 11% to €495.1 million, driven by strong summer activity in the Resort, the opening of the Amazónico restaurant on April 4, 2024, and the reopening of the Café de Paris Monte-Carlo brasserie in November 2023.
This resulted in a rise in operational profit of €93.9 million and a largely positive net result of €119.7 million, underlining the strength of the SBM Group’s financial model.
Stéphane Valeri, Chairman and Deputy of the Société des Bains de Mer, stated, “The 2024 summer season has confirmed the coherence and complementarity of our offer, as well as the overall attractiveness of our Resort.” The hotel business was especially profitable. Catering also performed well, thanks to the excitement produced by Amazonico Monte-Carlo’s first fiscal year in the summer and the Café de Paris’ sustained popularity. This performance in the first half of the year, which is up from the same period the previous year, reinforces our belief that we must continue to implement our development strategy in all sectors: gaming, hotels, restaurants, real estate, and the design of international growth drivers.”
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The €495.1 million income increased by €49.6 million compared to the same period previous year. Hotel sales increased by 16% to €289.8 million, led by the inauguration of the Amazónico Monte-Carlo restaurant on April 4, 2024 and the reopening of the Café de Paris Monte-Carlo brasserie in November 2023, as well as an increase in occupancy rates and average hotel pricing throughout the summer season.
Gaming revenue was unchanged from the previous year, totaling €127.7 million. Despite a rise in the volume of table games and automatic machines, the turnover of automatic machines was somewhat lower due to an adverse risk during the period, which is typical of this type of business.
The business added: “The SBM Group’s activity in the first six months of the new 2024/2025 fiscal year is thus part of a significant growth dynamic compared to the previous year. The SBM Group’s business model is stable and diverse. However, the gaming industry is heavily reliant on chance in the near term. This hazard prevents us from forecasting for the entire fiscal year 2024/2025.“
On November 14, 2024, the first casino under the SBM banner took sail on a Crystal Cruise ship. A whole new trip in which the refinement of gaming meets the splendor of luxury cruises.
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