The Société des Bains de Mer (SBM) held its Ordinary General Meeting on Friday, September 19 at the Monte-Carlo Bay Hotel & Resort, where shareholders approved all resolutions presented, including the 2024/2025 accounts and the distribution of a dividend of €1.80 per share.
For the year ending March 31, 2025, SBM reported consolidated revenue of €768 million, an increase of 9% compared to the previous year. Growth was driven by a strong rebound in hotel revenues, which rose 16% to nearly €400 million, boosted by the opening of Amazónico Monte-Carlo in April 2024 and the reopening of Café de Paris in late 2023. The rental segment also performed strongly, climbing 11% to €149.9 million thanks to the new commercial spaces at Café de Paris and low vacancy rates. Meanwhile, gaming revenues fell by 3% to €215.5 million due to less favourable odds, despite higher overall play volumes.
Operating profit reached €74.5 million, broadly stable compared with last year, as growth in hotel and rental income offset a decline in gaming results. Net profit attributable to the Group rose to €110.1 million, compared with €103.9 million the year before, helped by strong returns on financial investments.
Shareholders also voted to renew the directorship of Fabrice Larue until 2030 and reauthorised the Board to repurchase up to 5% of the company’s share capital, with a maximum total of €40 million and a ceiling price of €130 per share.
Looking ahead, the Group confirmed a strong start to the new financial year. Revenue for the first quarter of 2025/2026 (April–June) rose to €244 million, up from €218.4 million, with growth across all divisions. Summer trading continued the positive trend, with July and August revenues up 7% year-on-year, notably in hotels and restaurants, while gaming machines offset lower table revenues. Management nonetheless cautioned that the inherently unpredictable nature of gaming prevents reliable forecasts for the full year.
In other developments, SBM confirmed progress on its ambitious Courchevel project. The development was approved in June by 94.5% of co-owners, and the company announced that The Grill, Bar Américain, Jimmy’z, and the new “Monte-Carlo Club 1863” brand will all open within Monte-Carlo One Courchevel.
