Monaco: SBM records 12% rise in Q3 gaming turnover
Gaming turnover for the quarter totalled €48.6m.
Société des Bains de Mer (SBM) Group, operator of Casino de Monte-Carlo and Casino Café de Paris, has reported its Q3 2023/24 earnings.
The total generated by the gambling sector of the business was €48.6m ($52.6m), up 12% from this time last year when gaming turnover totalled €43.6m. Overall, the group made €135.2m in Q3.
Gaming contributed 35.9% of SBM’s turnover. The hospitality sector accounted for 38.5%, while the rental sector accounted for 26%.
Despite growth from last Q3, current turnover levels are still below previous to-date recordings, with SBM Group having generated €53.5m in Q3 2021. Current metrics do, however, reflect a market that has recovered substantially following the decrease in revenue caused by Covid-19 in 2020.
Despite the quarter’s downturn from Q1, the cumulative consolidated Group turnover for the past nine months (1 April – 31 December 2023) is up 4% from the same period last year, at €580.7m. The games sector in particular has made €176.4m in this period, up 1% from the €174.9m reported last year.
We spoke with Monte-Carlo Société des Bains de Mer COO Pascal Camia at ICE London 2023 for The Huddle about the company’s ambitions and the importance of diversifying casino offerings. The interview came shortly after the company announced the departure of its then Director, Jean-Luc Biamonti, who left the company on 24 January 2023.
Camia has since moved to the position of Chief International Development Officer of Casinos, Hotels & Restaurants at Monte-Carlo Société des Bains de Mer, taking on the role in May 2023.
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