Monte Carlo’s Societe de Bains de Mer has reported a very good year up until March 31, with gaming up by eight percent over the previous 12 months. Net sales rose 18 percent to 619.8 million euros, including a 239.8 million rise in gaming income. Slot machine turnover rose by 11 percent to 113 million euros while table games revenue rose by five percent to 113.5 million euros.
Net operating profit in all of SBM’s divisions was 22.6 million euros, compared with a loss of 9.6 million euros from April 1, 2018 to March 31, 2019. Gaming profit was 500,000 euros. Overall net profit rose by €23.5 million to €26.1 million. SBM has credited its diversification strategy for its turnaround.
The closing of casinos and almost all of SBM’s hotels on March 15 resulted in a loss of revenue of about 15 million euros.
The company has drawn on financial support from the Government and most of its staff have been on leave and receiving only part of their normal income. However, SBM starts to reopen its landmark attractions from Tuesday, June 2, starting with the Cafe de Paris and the inauguration of the newly-pedestrianised Casino Square. See related story: https://news.mc/2020/05/28/sbm-announces-staggered-reopening-of-restaurants-bars-and-casinos/
PHOTO: Jack Brodie for Monaco Daily News
