Monte-Carlo Société des Bains de Mer reported a strong financial year, with shareholders gathering on Friday, September 18, at the Monte-Carlo Bay Hotel & Resort for the group’s Ordinary and Extraordinary General Meetings, where every proposed resolution was approved.
Consolidated revenue for the 2025/2026 financial year reached €861.6 million, up €93.5 million, or 12 percent, on the previous year. Growth was spread across the group’s core activities, with hotel revenue climbing 11 percent to €443.1 million, driven by an 8 percent rise in accommodation activity thanks to strong average price growth, alongside an 11 percent increase in food and beverage revenue, boosted in particular by the opening of the Cédric Grolet Monte-Carlo tea room and a full year’s contribution from the Marlow restaurant.
Gaming revenue rose sharply, up 20 percent to €259.6 million, reflecting higher gaming volumes and a particularly favourable outcome on table games despite strict compliance controls, alongside growth in slot machine activity. Rental income rose 4 percent to €156.5 million, supported by near-full occupancy across the group’s residential portfolio and contractual rent indexation.
Consolidated operating profit came in at €86.6 million, up from €74.5 million the previous year. The gaming division delivered the most significant improvement, with operating profit up €13.8 million, while the hotel and rental divisions also posted solid gains of €3.3 million and €7.1 million respectively.
Financial income for the year came to €26.3 million, down from €35.6 million the previous year, a decline attributed to falling eurozone interest rates reducing returns on short-term financial investments. Net consolidated profit attributable to the Group reached €112.9 million, up from €110.1 million in 2024/2025.
Shareholders approved the group’s statutory and consolidated accounts for the year, along with the proposed allocation of profits. A dividend of €2 per share will be paid out, with the final trading date carrying dividend rights set for October 5, 2026.
The Ordinary General Meeting also renewed Stéphane Valeri’s mandate as Director, extending his term through the meeting that will approve the accounts for the 2031/2032 financial year, and renewed the Board’s authorisation to repurchase company shares, within a limit of 5 percent of share capital, at a maximum price of €170 per share and a total ceiling of €60 million, an authorisation valid for 18 months from September 18, 2026.
At the Extraordinary General Meeting, shareholders approved extending the company’s duration by a further 99 years from the date of the meeting, alongside a series of statutory changes required to align with Law No. 1.573 of April 8, 2025, on the modernisation of corporate law, and the related Sovereign Ordinance of September 18, 2025.
The changes extend existing conflict-of-interest restrictions to cover the Chairman of the Board, the Managing Chairman, the Chief Executive Officer and, where applicable, the Chairman and Chief Executive Officer, barring them from holding an interest in any transaction involving the company without prior Board authorisation later validated by shareholders. Shareholders will also now be able to appoint any individual or legal entity to represent them at general meetings, without that representative needing to be a shareholder themselves, alongside updated rules governing the format and submission of proxy documents.
Looking ahead, the group confirmed that consolidated revenue for the first quarter of the current financial year, covering April to June 2026, reached €271.3 million, up from €244 million in the prior year, with every business segment posting growth. The summer season, covering July and August, saw revenue rise 8 percent year-on-year, with growth again spread across all activities. In hospitality, growth was driven primarily by accommodation, particularly higher average room rates, while in gaming, strong table game performance underpinned the increase compared to the same period last year.
The group said its performance across the first five months of the 2026/2027 financial year reflects a positive growth trajectory consistent with the previous year, while cautioning that gaming revenue remains inherently subject to short-term volatility, meaning no forecast can be given for the financial year as a whole.